Text: Jesmine Ong
Learn more about Prof Quah’s work from this video.
Every nation faces difficult choices about how to allocate limited resources. From environmental regulations to infrastructure investment, governments must balance competing priorities while considering long-term social and economic impact.
For Prof Euston Quah, Albert Winsemius Chair Professor in Economics at NTU, analysing these trade-offs is central to his research.
“My work focuses on applied economics, particularly cost-benefit analysis and environmental economics,” he explains.
Cost-benefit analysis helps policymakers evaluate whether the benefits of a policy or project outweigh its costs. While the principle may seem simple, applying it to national decisions often requires weighing complex economic and social considerations.
Prof Quah points to the example of air quality standards. When global health guidelines tighten, countries must decide whether to adopt stricter measures.
“Stricter guidelines could mean better air quality for all Singaporeans, which would lead to improved health and productivity,” he says. “But the downside could be higher operating costs for businesses and potential effects on Singapore’s competitiveness.”
Assessing these trade-offs is where economic analysis becomes essential.
Economics that serve society
Supported by the Albert Winsemius Chair Professorship in Economics, Prof Quah’s work connects academic research with real-world policy decisions.
“When advising governments, the foundation must always be sound economics,” he says. “But in practice, data is rarely perfect. Much of the work involves judgment, careful assumptions, and thinking through consequences.”
Prof Quah engaging with students in class.
The professorship also enables him to work closely with policymakers, industry leaders and the next generation of economists.
“It allows me to mentor young scholars and researchers, showing how economics can contribute meaningfully to decision-making.”
For Prof Quah, the goal is clear. “At its core, the professorship reflects a simple idea: that economics should remain relevant to society, grounded in real decisions and real outcomes.”
Learn more about NTU’s Professorships here.