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SO31202 BASIC ECONOMICS

Supplementary Subject Learning Area of Social Studies
Level M.4 Semester 2 80 periods : 2 credits

The learning area of this course is aimed at grasping the topnotch idea of economic terminology,
concepts, and theories. Use basic economic numeracy and interpret economic data. Use the tools of
economic analysis. Express economic ideas logically and clearly in a written form. Evolve an understanding
of microeconomic and macroeconomic theories and concepts and their real-world application. Expand an
appreciation of the impact on individuals and societies of economic interactions between nations. Establish
an awareness of development issues facing nations as they undergo the process of change and develop
their thinking skills towards the 21st century.

The teaching procedures introduced in this course focus on knowledge and understanding, decision
making, analysis process. Proposing method is a combination of teaching through art, cooperative and
experiential learning, and project method. It is based on a research that has remarkable results regarding
the didactic methodology. The students will be able to understanding of economic terminology, principles
and theories, basic economic numeracy and literacy and their ability to handle simple data including graphs
and diagrams, ability to use the tools of economic analysis in particular situations, how to identify and
discriminate between differing sources of information and how to distinguish between facts and value
judgments in economic issues, ability to use economic skills (with reference to individuals, groups and
organisations) to understand better the world in which they live, understanding of the economies of
developed and developing nations and of the relationships between them; and to develop their
appreciation of these relationships from the perspective of both developed and developing nations.

The course also enables students to instill the desirable characteristics, including Intellectually
curious, mathematical aptitude, knowledge of social sciences, good at understanding complex systems, self-
driven, good time management, admitting you don't understand, creativity, solid reading, writing,
communication and analysis skills, performing under pressure, understanding other perspective, a strong
sense of ethics, integrity and being healthy and well-balanced.

Learning Outcomes
1. Understand economic theory, terminology, and principles.
2. Apply the tools of economic analysis
3. Distinguish between facts and value judgements in economic issues
4. Understand the ability to use, basic economic numeracy and literacy
5. Learn and take a greater part in decision-making processes in everyday life
6. Use examples from a variety of economies
7. Recognise and have an excellent foundation for advanced study in economics.
8. Evaluate economic information and data.
9. Distinguish between economic analysis and unreasoned statements.
10. Recognise the uncertainties of the outcomes of economic decisions and events.
11. Communicate economic thinking in a logical manner.
12. Grasp and have a bigger idea what are happening around in terms of economy.

Total 12 Learning Outcomes

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