Department of Economics at the National University of Singapore: A Hub for Economic Excellence

Department Overview

The Department of Economics at the National University of Singapore (NUS) is a renowned center of academic excellence in economic research, teaching, and outreach. Established in 1964, the department has consistently ranked among the top economics departments in Asia and weltweit.

With a distinguished faculty of internationally acclaimed economists, the department offers undergraduate, graduate, and postgraduate programs that provide students with a comprehensive understanding of economic principles, analytical tools, and empirical methods.

Key Facts:

• Ranked 5th in Asia and 33rd globally by the QS World University Rankings 2023
• Home to over 100 faculty members and 2,000 students
• Over $10 million in annual research funding
• 100% of faculty hold PhD degrees from top universities

Research and Impact

The Department of Economics at NUS is known for its cutting-edge research in various fields of economics, including:

• Behavioral Economics
• Development Economics
• Econometrics
• Energy Economics
• Finance
• Health Economics
• International Trade
• Macroeconomics
• Microeconomics
• Public Economics

The department's research contributions have made significant impacts on economic policy and decision-making, both in Singapore and internationally. Faculty members have published in top academic journals, received prestigious research grants, and advised governments and international organizations on economic issues.

Teaching and Programs

NUS Economics offers a wide range of teaching programs tailored to the needs of diverse students:

• Bachelor of Science in Economics (Honours)
• Master of Science in Economics
• Master of Science in Applied Economics
• Master of Arts in Economics
• PhD in Economics

The department's teaching approach emphasizes critical thinking, analytical reasoning, and the application of economic principles to real-world problems. Students benefit from small class sizes, interactive lectures, and hands-on research projects.

Outreach and Engagement

The Department of Economics at NUS actively engages with the community through outreach programs and partnerships. These initiatives include:

• Public lectures and seminars
• Consultations with businesses and government agencies
• Economic education programs for secondary school students
• Collaboration with industry partners on research projects

Stories of Success

Story 1: The Role of Behavioral Economics in Public Policy

NUS Economics faculty member Professor Sendhil Mullainathan has conducted groundbreaking research on the role of cognitive biases and psychological factors in economic decision-making. His findings have been used to inform public policies aimed at improving financial literacy, health outcomes, and educational attainment.

Story 2: Economic Growth and Inequality in Asia

Professor Lawrence Loh and his team have conducted extensive research on economic growth and inequality in Asia. Their work has provided valuable insights for policymakers in the region, helping to shape policies that promote inclusive and sustainable economic development.

Story 3: The Impact of Climate Change on the Singapore Economy

Professor Douglas Southgate and his colleagues have analyzed the potential economic impacts of climate change on Singapore. Their research has informed government policies and mitigation strategies to address the challenges posed by climate change.

What We Learn

• Economics is a dynamic field that offers tools and insights for understanding and addressing societal issues.
• Research in economics has a real-world impact on policymaking and decision-making.
• Students in economics programs at NUS benefit from a world-class faculty, cutting-edge research, and a strong emphasis on real-world applications.

Tips and Tricks for Success

• Develop strong analytical and problem-solving skills. Economics is all about using data and logic to make informed decisions.
• Stay up-to-date on economic research. The field of economics is constantly evolving, so it's important to keep up with the latest research and developments.
• Network with economists and professionals in the field. Attending conferences, joining professional organizations, and connecting with economists on social media can help you expand your knowledge and career opportunities.

Common Mistakes to Avoid

• Overlooking the importance of mathematics. Economics is not just a social science. A strong foundation in mathematics is essential for understanding economic models and empirical methods.
• Memorizing formulas without understanding their meaning. Concepts in economics are interconnected. It's more important to understand how and why formulas work than to simply memorize them.
• Ignoring real-world applications. Economics is not just an academic discipline. It's a tool for solving real-world problems. Make an effort to connect what you learn in class to issues you see in the news and society.

Step-by-Step Approach to Success in Economics

1. Develop a strong foundation in mathematics. Take courses in calculus, linear algebra, and probability and statistics.
2. Master basic economic principles. Take introductory courses in microeconomics and macroeconomics.
3. Choose a specialization. Explore different fields of economics and identify an area that interests you.
4. Take advanced courses and conduct research. Pursue graduate studies or independent research to deepen your knowledge and skills.
5. Network and connect with professionals. Attend conferences, join professional organizations, and connect with economists on social media.

Tables

Table 1: Top 10 Economics Departments in Asia (2023 QS World University Rankings)

Table 2: Research Funding at NUS Economics (2021-2022)

Table 3: Graduate Employability of NUS Economics Alumni