AY2013/2014, Semester 2
EC3102 Macroeconomic Analysis II
This module is a technical(mathematical) extension of EC2102. It delves into the micro-foundations of the IS-LM relationship, with greater emphasis of market expectations and inclusion of open economy elements, and translating everything into the AD-AS analysis framework. The last part of the module covering economy openess will focus on the role of excange rate regime plays in the economy adjustments resulting on fiscal and monetary policies, and overlaps with the international finance segment of EC3341, so life was definitely easier studying this newly introduced element in the analysis. Well, the usual thing with taking the module under Prof Ho is that, he never fail to surprise you in midterms and exams. I got my 35% midterms back, with a score of 15/35. WTF. Although my friend told me that 15/35 is about the average, I wasn't so sure because Prof. Ho decided not to published the mean and standard deviation of the midterm scores, (probably for moderation?) so I was quite worried because not getting a B for this module means that I will fail the average 4.00 for EC3101 and EC3102 required for EC4101 and EC4102, and it would be a hassle to submit the prerequisite-waiving request. Glad it turned out that I did better than I thought for finals despite forgeting about the derivation of Phillips Curve from AS relation, hence the adjustment mechanism, and thus flunked that 20% of the paper. Maybe this is what NUS students call, "saved by the bell curve". Overall I think it is an interesting module, but requires a lot of step-by-step thinking to get the analysis right. It's nowhere near the straightforwardness and simplicity of EC3101, so studying hard and seeking clarifications foreverything you don't understand is the key to scoring for this module.
Grading Criteria: 15% Tutorial Participation, 35% Midterm Test, 50% Final Exam.
Grade: B+ (I went hyper when I saw it LOL)
EC3312 Game Theory & Applications to Economics
Beware! This module has very daunting preclusion, MA4264. If you have never taken any MA-coded modules and don't know how scary is it, ask the mathematics majors. So think carefully before you bid for it! Personally I enjoyed this module, there's sufficient mathematical rigour as well as application oriented problems. Thankfully the proving questions are limited, and it's not as difficult as its mathematics counterpart. Prof. Sun gets a bit naggy in tutorials but it really helps the weaker students understand the theorems well. His midterm test and final exam were quite easy, usually with one question that requires a little bit of extra thinking to solve/prove. "Practice makes perfect" applies well in this context, because more questions are solvable with enough practice, and for that mathematically-thought-provoking question? Think about it after you completed everything else. Like, everything. The topics covered are Static & Dynamic Games of Complete Information(Pure & mixed strategies) and Static & Dynamic Games of Incomplete Information(Pure strategies only). Sounds little? See it for yourself. Lastly, do note that games of PERFECT information and games of COMPLETE information refer to very different type of games.
Grading Criteria: 5% Tutorial Participation, 10% Assignments, 35% Midterm Test, 50% Final Exam.
Grade: A
EC3341 International Economics I
Another mathematical module! First half of this module is on international trade, so the focus was on output optimization and hence very mathematical. Ricardian Model is an intuitive introduction but 2x2x2 Hecksher-Ohlin Model can give students who are not mathematically inclined a big headache. Simple two-period dynamic optimization will play an important role in understanding the optimal choices. Second half will introduce international finance, which is the monetary side of the market. Most of this segment focus on explanations and graphs with a little bit of mathematics to show the derivation and adjustments of the AA-DD schedules. Dr. Kikuchi always have an application question in his final exam which tests the applicability of the theorems in scenarios modeled on historical data, so always be prepared. Overall, the module is not too difficult, I did well for the group and individual assignments but probably didn't do as well for the graphing questions for final exam. With enough practice, this module is definitely doable.
Grading Criteria: Individual Assignment 20%, Group Assignment 40%, Final Exam 40%.
Grade: A-
EC3384 Resource & Energy Economics I
The least mathematical economics module that I have taken. It was quite worrying at first because writing essays is definitely not one of my strength. However, this module is among the most interesting economics modules that I have taken in NUS. The breadth of the module covers a wide range of resources, including: energy resources(coal, gas, petroleum, hydropower, nuclear etc.), recyclables, water, land, food, forestry and fishery, with significant depth in the energy market. I did my research project on fisheries individually because of the small class size of my tutorial. Fisheries was ranked 4th among my topic choices, but I was allocated it and it turns out to be a very complex yet intriguing market that bridges into other topics like water, food and hydropower, and other fields like education, native culture, poverty and conservation tradeoffs in legislations and public policies. There's also an optional GIS project that requires us to self-learn QGIS software, and map out feasible nuclear plant sites in Vietnam. Got A for both projects, but I probably didn't do as well in final exam. Read the table headings for the forestry data analysis question wrongly LOL. Stupid careless mistakes that I make all the time, but I have learn that humans were never meant to be perfect haha.
Grading Criteria: 10% Tutorial Participation, 20% Midterm Test, 30% Individual Project, 40% Final Exam.
Grade: A-
GEK1510/PC1323 Great Ideas in Contemporary Physics
This module really is an eye-opener, and is probably one of the most interesting GEM if you actually understand the physics and occasional philosophy that the lecturer is rambling about haha. This module is the harder version of GEK1508, with equal breadth but more difficult assessments. Tutorials are mathematical, but it's all basic algebra manipulation and interpreting the results. Good news is that like most GEMs, this module practices open-book examination, so even if you can't help but fall asleep, just learn to recognize the type of question and start flipping your notes. This also means that bel-curve is a lot steeper than you would have imagined. The module non-mathematically covers special and general relativity, quantum physics, particle and forces, cosmology(black holes!) and superstring. Superstring is mindblowing, and really left me clueless half the time, but overall it's a pretty good module for GEM if you have some interest in contemporary physics and thinks that GEK1508 is too expensive for bidding!
Grading Criteria: 20% Assignments, 80% Continuous Assessment(3 Tests in w4, w8 and w12 with weightage of 20%, 20% and 40% respectively).
Grade: B+
QF3101 Investment Instruments: Theory & Computation
This module is intended quantitative finance majors who specialize in computations of financial mathematics. Unline MA-coded modules, there is less focus on mathematical rigour in this module. The module introduces programming using Visual Basics for Applications(VBA), a computing software commonly used in the finance sector because it is designed by Microsoft to run on host applications like Microsoft Words and Excel, allowing automated Word reports to be generated from Excel data. Also, it introduces various similar but differentiated financial derivatives that are commonly used in real-time trading. There is also a computing assignment in this module that utilizes the data on Chicago Mercantile Exchange(CME) to construct LIBOR term structures, making this module the most application oriented module I ever took in NUS. The final exam is really a race against time and performing under stress. Blanked out the typical arbitrage questions, and lost my above-average advantage from the midterm test and computing assignment. Overall, it's still quite an interesting module because you will never cease to be amaze by the fact that derivative trading is all about making an informed gamble on volatility of prices, and how much the informed traders have earned by betting against the bullish market right before the it collapsed in 2008.
Grading Criteria: 3% Tutorial Participation, 12% Midetern Test, 25% Computing Assignment, 60% Final Exam.
Grade: B
Ending Note
On the whole, it was pretty enriching and fulfilling semester, juggling 6 modules, EMCC, EHDP and DU. After last semester, I didn't think that this semester's modules will be as interesting, but I was wrong. The modules this semester were far more enriching because of the wide coverage or significant depth that they provide. CAP 3.70 is slightly below my expectations but pretty satisfactory considering the fact that I got B+ for EC3102, redeeming myself from the horrendous C+ of EC2102. Grade distribution was exactly the same as last semester's A, A-, A-, B+, B+, B with my mathematics module in the last place AGAIN. Nevertheless, I still don't regret going for (financial) mathematics as my second major, and I am happy to have finally submitted my official application for it. I am also quite adapted to studying 6 modules, even with exams on the same day now, so I hope with more hard work next semester, I can hit a semester average of 4.5 and above. Never stop improving, and one day we stand at the heights we never imagined.
This module is a technical(mathematical) extension of EC2102. It delves into the micro-foundations of the IS-LM relationship, with greater emphasis of market expectations and inclusion of open economy elements, and translating everything into the AD-AS analysis framework. The last part of the module covering economy openess will focus on the role of excange rate regime plays in the economy adjustments resulting on fiscal and monetary policies, and overlaps with the international finance segment of EC3341, so life was definitely easier studying this newly introduced element in the analysis. Well, the usual thing with taking the module under Prof Ho is that, he never fail to surprise you in midterms and exams. I got my 35% midterms back, with a score of 15/35. WTF. Although my friend told me that 15/35 is about the average, I wasn't so sure because Prof. Ho decided not to published the mean and standard deviation of the midterm scores, (probably for moderation?) so I was quite worried because not getting a B for this module means that I will fail the average 4.00 for EC3101 and EC3102 required for EC4101 and EC4102, and it would be a hassle to submit the prerequisite-waiving request. Glad it turned out that I did better than I thought for finals despite forgeting about the derivation of Phillips Curve from AS relation, hence the adjustment mechanism, and thus flunked that 20% of the paper. Maybe this is what NUS students call, "saved by the bell curve". Overall I think it is an interesting module, but requires a lot of step-by-step thinking to get the analysis right. It's nowhere near the straightforwardness and simplicity of EC3101, so studying hard and seeking clarifications foreverything you don't understand is the key to scoring for this module.
Grading Criteria: 15% Tutorial Participation, 35% Midterm Test, 50% Final Exam.
Grade: B+ (I went hyper when I saw it LOL)
EC3312 Game Theory & Applications to Economics
Beware! This module has very daunting preclusion, MA4264. If you have never taken any MA-coded modules and don't know how scary is it, ask the mathematics majors. So think carefully before you bid for it! Personally I enjoyed this module, there's sufficient mathematical rigour as well as application oriented problems. Thankfully the proving questions are limited, and it's not as difficult as its mathematics counterpart. Prof. Sun gets a bit naggy in tutorials but it really helps the weaker students understand the theorems well. His midterm test and final exam were quite easy, usually with one question that requires a little bit of extra thinking to solve/prove. "Practice makes perfect" applies well in this context, because more questions are solvable with enough practice, and for that mathematically-thought-provoking question? Think about it after you completed everything else. Like, everything. The topics covered are Static & Dynamic Games of Complete Information(Pure & mixed strategies) and Static & Dynamic Games of Incomplete Information(Pure strategies only). Sounds little? See it for yourself. Lastly, do note that games of PERFECT information and games of COMPLETE information refer to very different type of games.
Grading Criteria: 5% Tutorial Participation, 10% Assignments, 35% Midterm Test, 50% Final Exam.
Grade: A
EC3341 International Economics I
Another mathematical module! First half of this module is on international trade, so the focus was on output optimization and hence very mathematical. Ricardian Model is an intuitive introduction but 2x2x2 Hecksher-Ohlin Model can give students who are not mathematically inclined a big headache. Simple two-period dynamic optimization will play an important role in understanding the optimal choices. Second half will introduce international finance, which is the monetary side of the market. Most of this segment focus on explanations and graphs with a little bit of mathematics to show the derivation and adjustments of the AA-DD schedules. Dr. Kikuchi always have an application question in his final exam which tests the applicability of the theorems in scenarios modeled on historical data, so always be prepared. Overall, the module is not too difficult, I did well for the group and individual assignments but probably didn't do as well for the graphing questions for final exam. With enough practice, this module is definitely doable.
Grading Criteria: Individual Assignment 20%, Group Assignment 40%, Final Exam 40%.
Grade: A-
EC3384 Resource & Energy Economics I
The least mathematical economics module that I have taken. It was quite worrying at first because writing essays is definitely not one of my strength. However, this module is among the most interesting economics modules that I have taken in NUS. The breadth of the module covers a wide range of resources, including: energy resources(coal, gas, petroleum, hydropower, nuclear etc.), recyclables, water, land, food, forestry and fishery, with significant depth in the energy market. I did my research project on fisheries individually because of the small class size of my tutorial. Fisheries was ranked 4th among my topic choices, but I was allocated it and it turns out to be a very complex yet intriguing market that bridges into other topics like water, food and hydropower, and other fields like education, native culture, poverty and conservation tradeoffs in legislations and public policies. There's also an optional GIS project that requires us to self-learn QGIS software, and map out feasible nuclear plant sites in Vietnam. Got A for both projects, but I probably didn't do as well in final exam. Read the table headings for the forestry data analysis question wrongly LOL. Stupid careless mistakes that I make all the time, but I have learn that humans were never meant to be perfect haha.
Grading Criteria: 10% Tutorial Participation, 20% Midterm Test, 30% Individual Project, 40% Final Exam.
Grade: A-
GEK1510/PC1323 Great Ideas in Contemporary Physics
This module really is an eye-opener, and is probably one of the most interesting GEM if you actually understand the physics and occasional philosophy that the lecturer is rambling about haha. This module is the harder version of GEK1508, with equal breadth but more difficult assessments. Tutorials are mathematical, but it's all basic algebra manipulation and interpreting the results. Good news is that like most GEMs, this module practices open-book examination, so even if you can't help but fall asleep, just learn to recognize the type of question and start flipping your notes. This also means that bel-curve is a lot steeper than you would have imagined. The module non-mathematically covers special and general relativity, quantum physics, particle and forces, cosmology(black holes!) and superstring. Superstring is mindblowing, and really left me clueless half the time, but overall it's a pretty good module for GEM if you have some interest in contemporary physics and thinks that GEK1508 is too expensive for bidding!
Grading Criteria: 20% Assignments, 80% Continuous Assessment(3 Tests in w4, w8 and w12 with weightage of 20%, 20% and 40% respectively).
Grade: B+
QF3101 Investment Instruments: Theory & Computation
This module is intended quantitative finance majors who specialize in computations of financial mathematics. Unline MA-coded modules, there is less focus on mathematical rigour in this module. The module introduces programming using Visual Basics for Applications(VBA), a computing software commonly used in the finance sector because it is designed by Microsoft to run on host applications like Microsoft Words and Excel, allowing automated Word reports to be generated from Excel data. Also, it introduces various similar but differentiated financial derivatives that are commonly used in real-time trading. There is also a computing assignment in this module that utilizes the data on Chicago Mercantile Exchange(CME) to construct LIBOR term structures, making this module the most application oriented module I ever took in NUS. The final exam is really a race against time and performing under stress. Blanked out the typical arbitrage questions, and lost my above-average advantage from the midterm test and computing assignment. Overall, it's still quite an interesting module because you will never cease to be amaze by the fact that derivative trading is all about making an informed gamble on volatility of prices, and how much the informed traders have earned by betting against the bullish market right before the it collapsed in 2008.
Grading Criteria: 3% Tutorial Participation, 12% Midetern Test, 25% Computing Assignment, 60% Final Exam.
Grade: B
Ending Note
On the whole, it was pretty enriching and fulfilling semester, juggling 6 modules, EMCC, EHDP and DU. After last semester, I didn't think that this semester's modules will be as interesting, but I was wrong. The modules this semester were far more enriching because of the wide coverage or significant depth that they provide. CAP 3.70 is slightly below my expectations but pretty satisfactory considering the fact that I got B+ for EC3102, redeeming myself from the horrendous C+ of EC2102. Grade distribution was exactly the same as last semester's A, A-, A-, B+, B+, B with my mathematics module in the last place AGAIN. Nevertheless, I still don't regret going for (financial) mathematics as my second major, and I am happy to have finally submitted my official application for it. I am also quite adapted to studying 6 modules, even with exams on the same day now, so I hope with more hard work next semester, I can hit a semester average of 4.5 and above. Never stop improving, and one day we stand at the heights we never imagined.