Skip to content

Category Archives: Economics

Spring 2010 courses

(Beijing) It’s been a fun ride

My final semester, in full quant gear. It’s time to man up and math up. If I have to get out of school, I’m going out with a bang, not a whimper.

Continued…

Posted in College Life, Economics, Politics.

1 comment

By qui tacet – January 14, 2010
Means-testing and extending the undergraduate Tuition Grant Scheme

(Taipei) Competition is a necessary but sometimes insufficient condition for quality.

Two years ago around this time, shortly after my stint at a DC think-tank and a public policy summer camp, I wrote my first op-ed on higher education subsidies in Singapore, and it got some attention from legislators and published in the state media.

The subsidy, the Tuition Grant Scheme administered by the education ministry, is not means-tested and subsidy amounts depend on the specific university and field of study, and is fairly substantial – as much as 75% of full tuition. It is also tied not to citizenship or residency (as is common elsewhere) but to attendance at certain schools in Singapore, namely the local public universities and the vocational and trade schools (the polytechnics and other diploma providers). I use the term public because all of them also receive operating subsidies via the education ministry. Anyone who attends these schools is eligible for the subsidy – rich or poor, citizen or foreign national – but these schools only. I am primarily concerned with its provision at the undergraduate level though in principle my arguments extend also to the vocational and trade schools.*

Continued…

Posted in Economics, Education, Essays & Writing, Singapore.

Comments Off

By qui tacet – July 22, 2009
Counterfeiting and the Renminbi

(Beijing) Trans: Warning: If we discover counterfeit bills, the police will deal with you!!!

Before going to China, I had considered acquiring RMB from the banks in New York, but decided that the exchange rate would have been poorer since the supply of RMB here would have been very limited. So I brought a stack of US dollars to China with the expectation that I would exchange it there. But when I arrived at Beijing’s terminal 3, I found that the moneychangers there were offering a terrible rate, so I resolved to go out into the city and find a better one.

Continued…

Posted in China Trip, Development, Economics.

1 comment

By qui tacet – January 28, 2009
Game theory and the Beijing subway

(Beijing subway) Lost in an ocean of people…

Despite the frequent exhortations of station attendants to “先下后上” (let passengers get off before you board) and to respect “中华人民传统美德” (traditional Chinese values), taking the Beijing subway at peak hours is like an epic battle.

Continued…

Posted in China Trip, Economics.

Comments Off

By qui tacet – January 5, 2009
Practical Languages

(Yonghegong road, Beijing) Actually, I prefer menus with pictures.

I had a conversation with an entrepreneur friend who told me he had hired a Beida grad to join his AI-development team, and I jested that his Mandarin must be much better than mine to have cross-lingual collaboration, to which he replied that he was also learning Spanish. When I asked him why Spanish, he proceeded to list languages in order of the number of speakers worldwide.

Continued…

Posted in Business, China Trip, Economics.

Comments Off

By qui tacet – December 31, 2008
Getting a PhD in Saving the World

My translation: Caring about the lives of others is to treasure one’s own happiness. (Road sign on Chang’an Avenue near Tiananmen Square, Beijing)

I hate how people assume that I’m going to be an investment banker when I tell them I’m an economics major, so I’ve started to introduce myself as ‘majoring in saving the world’. I considered having that on my business cards: ‘Bachelor of Arts, Saving the World’. I even asked the dean of the college about whether I could do that officially. He asked me “do you think the world can be saved?” I couldn’t give a definite answer, so I guess I’m stuck with my current major.

With the market the way it is, I’ve been looking into grad school options. I attended an info session about the Earth Institute’s PhD program in sustainable development by one of the doctoral students.

Continued…

Posted in Business, College Life, Development, Economics.

6 comments

By qui tacet – November 13, 2008
Globalization and the Korean Economy

No, not that Korean economy. The other one. (Pyongyang railway station)

I’ve received some e-mail (fewer than anticipated) asking whether I am still alive, so let this allay your concerns. Some of what has kept me busy since term started are my several writing commitments. One of which is for the Korea Times, in which my essay on globalization, trade and finance has been published in the Nov 1st edition. You can read it here.

Continued…

Posted in Economics, Essays & Writing, Korea.

4 comments

By qui tacet – October 31, 2008
Return to Switzerland

Part 2/Teil zwei! (St Gallen, Switzerland)

It looks like I get to see the French-speaking side of Switzerland this time:

On behalf of Dr. Hans Blix, it is my great pleasure to thank you for participating in the Students for A Nuclear Weapons-Free World competition. The expert Panel of Judges, chaired by The Hon. Douglas Roche, was composed of people from all regions of the world. They assessed your contribution to be outstanding and to merit one of the 15 prizes. Please accept our wholehearted congratulations!

Continued…

Posted in Economics, Essays & Writing.

3 comments

By qui tacet – June 19, 2008
James Zumwalt on US-Japan relations

Selling the American dream? (Shibuya, Tokyo)

James Zumwalt, Director of the Office of Japanese Affairs at the State Department came to Columbia to give us an update on US-Japan relations, hosted by Robert Immerman-sensei at the Weatherhead Institute. He was speaking on the record, so it wasn’t really all that exciting, but there were a few gems I took away.

Continued…

Posted in Economics, Japan.

Comments Off

By qui tacet – April 16, 2008
Going to St Gallen

I’m going to Switzerland.

On behalf of the International Students’ Committee (ISC), we would like to cordially thank you for your excellent contribution to this year’s St. Gallen Wings of Excellence Award. We are very delighted about the challenge you have undertaken when working on the topic “Global Capitalism – Local Values”. In the past few weeks the jury has thoroughly evaluated the around 1,000 entries in order to choose those 200 students who will be invited to the 38th St. Gallen Symposium.

Continued…

Posted in Business, College Life, Development, Economics.

2 comments

By qui tacet – March 6, 2008
Yenmillionaire, not

So it’s confirmed, I’m going to Tokyo, and they have posted the full text of the essay online if you care to read it. Although they liked my essay, they didn’t like it enough:

Continued…

Posted in Anime, Economics, Essays & Writing, Japan, Japan - Tokyo Trip.

2 comments

By qui tacet – December 14, 2007
Gundam and Economics

My love of anime, combined with my interest in Japanese business, has finally paid off, and I might have the opportunity to visit Tokyo in January.

We would like to express our gratitude to you for submitting your essay to the JFTC Essay Competition 2007. After a strict screening of all the essays, we have selected your essay, “Gundamnomics: Transforming Corporate Japan for the Challenges of Global Capitalism” as a candidate for an award. The final result is scheduled to be announced on Friday, December 14, and the winners will be notified directly. The Awarding Ceremony and our New Year’s Reception will be held from 16:30 to 19:00 on January 9, 2008 at Hotel New Otani, Tokyo, Japan.

Continued…

Posted in Anime, Economics, Essays & Writing, Japan, Japan - Tokyo Trip.

4 comments

By qui tacet – December 2, 2007
The Political Economy of Gundam 00

I wish I were a gundam meister.

The new Sunrise adaptation of Gundam Wing – Gundam 00 (pronounced double-oh) – is my most awaited series each week. It isn’t just the high-definition animation quality or the giant space robots that make it so wonderful, but its presentation of current affairs and contemporary issues through the lens of science fiction. I examine Gundam 00 through the lens of international relations theory.

Continued…

Posted in Anime, Economics.

3 comments

By qui tacet – November 25, 2007
Rüdiger Frank at Weatherhead

Rüdiger Frank from the University of Vienna came to Weatherhead to talk about North Korea’s transition to a market economy. Frank was a visiting scholar at Columbia from 2002-03 and I read a few of his papers written during that time in preparation for my term paper. Charles Armstrong introduced him as the ‘last product of East Germany’s Korea Studies program’, as he was an exchange student at Kim Il Sung daehakgyo in 1991, just after the reunification of Germany – which I suppose is when the exchanges ended. He talked a bit about his life as an exchange student, apparently it was mostly “drinking a lot of johnny walker mixed with coke” and getting on the nerves of the authorities. Also, he says NK beer tastes better than Hite, but that isn’t saying much. He also had hilarious stories about life under communism in East Germany and how the waiters were really rude because their jobs were secure and how people fed pigs subsidized bread because it was cheaper than feed. He is a powerpoint genius and I wish he was still teaching at Columbia!

Continued…

Posted in Economics, Korea.

2 comments

By qui tacet – November 10, 2007
My first ISBN number

Is 978-2-940401-00-0. Which means I now have a Chicago-style journal citation in addition to a newspaper citation to my name.

Posted in Economics, Essays & Writing.

3 comments

By qui tacet – November 4, 2007
AMB Kim Hyun-Chong at WEAI

I attended Ambassador Kim Hyun-Chong’s (ROK perm rep to the UN, previously trade minister) talk today at Weatherhead. Charles Armstrong (director of Korean studies at the institute) was hosting, and his predecessor Samuel Kim made an appearance. It wasn’t very well publicized outside of the grad student circles (I wish I had more grad school friends), so it was held in the institute 9th floor lounge, with about 20-30 people attending, mostly graduate students and external visitors. Amb. Kim is a Columbia alum (law school) and great speaker, although a little less diplomatic than I expected – he’s funny in a sardonic way and doesn’t smile that much, and he had some strong words on the topic.

Continued…

Posted in Economics, Korea.

Comments Off

By qui tacet – October 26, 2007
Published in ST

Although my op-ed has finally been published in the Straits Times review section as a joint submission, I can’t help but feel a little upset that they rejected my original piece but took this one when the only differences are that 1) it is less critical of the state and 2) more conversational.

Continued…

Posted in Economics, Education, Essays & Writing, Politics, Singapore.

1 comment

By qui tacet – October 9, 2007
Escaping the Resource Curse book launch

While I stopped over in the city I attended the book launch of Macartan Humphreys‘ Managing the Resource Curse at the Earth Institute in Columbia. Here’s what happened:

Continued…

Posted in Development, Economics.

Comments Off

By qui tacet – June 11, 2007
White Castle in Harlem

So after the grueling literature exam, I went to see Spiderman 3 with the 6th floor kids to destress. For some reason they chose to see the film in the Apollo theater in Harlem. It always amazes me how much the environment changes only ten or so blocks away.

Continued…

Posted in College Life, Development, Economics.

Comments Off

By qui tacet – May 4, 2007
Trapped, or What I Learned From a Princess

ALADDIN: Well, it’s not much, (he pulls back the curtain and exposes the palace) but it’s got a great view. Palace looks pretty amazing, huh?
JASMINE: Oh, it’s wonderful.
ALADDIN: I wonder what it would be like to live there, to have servants and valets…
JASMINE: Oh, sure. People who tell you where to go and how to dress.
ALADDIN: It’s better than here. Always scraping for food and ducking the guards.
JASMINE: You’re not free to make your own choices.
ALADDIN: Sometimes you feel so–
JASMINE: You’re just–
BOTH: (in unison) –trapped.

The following is a work of fiction. Any resemblance to real persons, living or dead, is purely coincidental.

Big Sis: “So what do you like about her?”
Lil Bro: “Everything. It’s hard to explain.”
Big Sis: “If you can’t even explain it to me, how are you going to explain it to her?”

Perhaps the reasons for my affection can be explicated by turning to my twin philosophies, economics and liberty. Economics considers it perfectly rational to love someone who maximizes my utility across the indifference curves of life. ‘Why’ is thus merely a complex cost-benefit analysis of tradeoffs and compensating differentials. But economics says nothing about what that someone is loved for. To economists, de gustibus non est disputandum – tastes are usually exogenous to the models and taken as a given. If economics has no answers here, neither does libertarianism which has its highest expression in Rand’s novels, who writes of D’Anconia’s love for Dagny in Atlas Shrugged: “He will always be attracted to the woman who reflects his deepest vision of himself.” However, Rand’s description of that vision is her own, and to give the standard libertarian answer derived from John Stuart Mill about individual conceptions of our visions is to say nothing about what mine should be.

Continued…

Posted in Bildungsroman, College Life, Economics, Essays & Writing, Politics.

8 comments

By qui tacet – April 8, 2007
I love the Economist

I was amused to find this 1991 WaPo article, James Fallows’ The Economics of the Colonial Cringe: Pseudonomics and the Sneer on the Face of The Economist, circulating on Young Republic, considering how most of its membership has been thoroughly saturated with Oxbridge-bound post-colonial angst/awe and required subscriptions to the Economist since middle school for debate club.

Continued…

Posted in Economics, Education.

Comments Off

By qui tacet – March 18, 2007
Culture of Enterprise international student essay contest

So I won the Intercollegiate Studies Institute’s Culture of Enterprise essay contest, which I heard about from a friend at the Institute for Humane Studies after I won one of their essay contests. The topic was “Can Character and Communities Survive in an Age of Globalization?”, and while it sounds a lot like a moral standards or social capital issue I wrote about cultural factors in economic growth, which is closer to my arc of competence. My title “The Culture of Success: Cultural Foundations for Competitiveness in the Global Economy” was a little tribute to my dream (well, at least one of my dreams) employer at 80 broad street. There should be a proper press release with all the winning entries posted up soon on the ISI website.

Continued…

Posted in Economics, Essays & Writing, Politics.

1 comment

By qui tacet – March 7, 2007
Dealing with Rejection

The past month or so has been an unbroken string of disappointments, most of all with myself. I constantly wonder whether I am learning from my mistakes.

Continued…

Posted in Bildungsroman, College Life, Economics, Essays & Writing.

3 comments

By qui tacet – February 21, 2007
Markets in love and irrational traders

I think the optimal strategy in the market for love is emotional volatility arbitrage. Much like LTCM’s strategy of convergence trades, the aim of emotional volatility arbitrage is to reduce the risk of destabilizing shocks in one’s life. If happiness in life is a function of expectations, then to expect too much is to invite disappointment and be unhappy. In view of the inevitable regression to the mean in life, we should have low expectations that are almost always pleasantly exceeded, rather than high expectations that always lead to disappointment.

Continued…

Posted in Bildungsroman, College Life, Economics.

11 comments

By qui tacet – November 23, 2006
A World Connected essay contest

I won third place, and the essay can be found here. I don’t think I did that great a job personally, certaintly not as much effort as the libertarian-paternalism essay, so I wonder what were the differentiating factors that made my essay better than the others.

I am presently trying to sort out how I can facilitate payment of my award since I do not yet possess an SSN. My present course of action is to secure a campus job immediately – I had been delaying this since I was waiting for an opening for a research assistant position in the economics department (in line with my strengths and interests) instead of say, card-swiping at the dining hall… but in view of the circumstances I may have to take up something menial. Hopefully I can minimize the difficulty of finding a job by accepting one with minimal remuneration, and also minimize the workload. The policy of only awarding SSN to foreign students who have secured employment creates perverse incentives: incentivizing working at the least, and not the greatest, of one’s ability. This is clearly not an optimal outcome.

Posted in Economics, Education, Essays & Writing.

2 comments

By qui tacet – September 20, 2006