The Building Blocks of an Economy
By Yamini Chinnuswamy Parents are deeply interested in what their children will learn when they enter the school gates and how it will shape their future career, but few would think that the exercises they find on the whiteboard were influenced by the country’s trade policy. The same parents would more likely link trade policy with the price and quality of life essentials such as groceries and medicine. Yet some are starting to question the merits of free trade as they experience slower or more precarious improvements in their lives in a more competitive global economy. Governments too are thinking hard about how best to marshall resources and prepare their workforce to compete with fast emerging economies in rapidly changing markets. These questions make it more important than ever to gain a rigorous understanding of how international trade policy affects the building blocks of the economy, such as education and industry. Researchers from the Singapore Management University (SMU) School of Economics (SoE) are making great strides in this quest through research in econometrics, international trade, macro and microeconomics. As a result of their research contributions, SoE emerged as one of Asia’s top schools in Tilburg University’s ‘Top 100 of Economics Schools Research Ranking’ in 2013. Education and trade – a two way street? Education systems are under an ever brighter spotlight as countries wonder how to equip their new generations for a world where knowledge and innovation are the important competitive advantage. Countries with contrasting education systems, such as Japan, Singapore and the US, are looking at each other for clues. Yet clues may also be found by looking at how existing education systems have been shaped by a country’s own trade pattern and intensity. SoE Associate Professor Chang Pao-Li, along with fellow SoE colleague Associate Professor Huang Fali, studies […]