Tuesday, January 20, 2009

Statistical Data: Malaysia vs. UK

I often receive comments & requests from friends and some students to blog more on Malaysian economy, which I normally incline to do so.

Here’s the reason:

(1) Teaching A-Levels. Currently I’m specialising in A-Levels Economics. Therefore I ought to provide my students with more information from abroad especially in UK, US & major Western European economies. Also I will begin to blog a lot on Development Economics since I will be teaching Unit 5B next term. As such my focus will be mostly on African regions & in comparisons to China & India. I will also provide some useful information for students from other group which will be taking up 5A: Labour Economics.

(2) Statistical data in Malaysia is not easily available. Even if they do provide, very often it’s in a book form & you’ll have to pay to get access to those information. Secondly, the information available in Malaysia’s Statistic Department is too little to contain value of research. You’ll understand if you click on the 4 links below. Remember to see how they present those information by clicking on each indicators

http://www.statistics.gov.uk/instantfigures.asp (UK)- please click on 'More'
http://www.statistics.gov.uk/glance/ (UK)


http://www.statistics.gov.my/eng/index.php?option=com_content&view=category&id=38&Itemid=11 (Malaysia)

http://www.statistics.gov.my/eng/index.php?option=com_content&view=article&id=242&Itemid=14 (Malaysia)-where everything needs to be paid

(3) News ‘not economic’ enough. As I have mentioned, the Westerners are very ‘economic society’. They tend to explain businesses, investment & economies by the way that even people like doctor, lawyer, students or butcher can understand. Each and every economic event is explained thoroughly e.g. chain effects etc. In other word, having public’s understanding in mind when writing. This makes it so interesting. Furthermore, they often use simple (but explained) economic terms from textbooks to ‘educate’ the society especially students letting them know that what they learn in textbook is applicable in the real world. Click on the link below:

http://news.bbc.co.uk/2/hi/business/7764736.stm (UK)-in response to recent rate cut


http://biz.thestar.com.my/news/story.asp?file=/2009/1/23/business/3096907&sec=business (Malaysia)-where I think only economists or businessmen can understand

All in all, there is still much for us to learn from the more developed economies. Being a developing countries, it is crucially important to have all these information available to the public especially professors & other academicians. Having an easy access to information, will definitely encourage R&D activities from the supply side arguments. This may increase the productive capacity of Malaysian economy

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