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1. COURSE DESCRIPTION
The course helps learners to grasp the complexities of interpreting modern economic ideas as reflected in contemporary economic policies and institutions. The course shows the strong transformation of mainstream economics, focusing on the second half of the 20th century. Starting from the hypothetical foundation of economic people of classical - neoclassical economics, the module examines how institutional economists such as Thorstein B. Veblen, John K. Galbraith as well as John M. Keynes responded in theory and policy in the first half of the 20th century. How institutional thinking and Keynesian thought were interpreted and integrated into the neoclassical tradition to shape modern economic policy through the late 1970s. The course describes the policy focus of the monetarist and "new neoclassical macroeconomics" schools in their attack on Keynesian thought at the end of the 20th century and the integration of these ideas in the formation of major economic theory and institutions. system until before the crisis . The course presents new challenges to the rational assumption that come from psychology and other new approaches to behavioral economics in understanding the financial crisis of the early 21st century.
2. COURSE CONTENTS
No.
Contents
Time Allocatio
Contribution to CLO
Hour(s) on the class
Essays, exercise,
Assignments...
(3)
Self-study with teacher’s tutorials
(4)
Lecture
(1)
Practice, Seminar…
(2)
1
Chapter 1: Introduction and Subject study framework
2
1
1.5
4.5
CLO1, 2,4,5
2
Chapter 2: The beginnings of modern economics
2
1
1, 5
6.5
CLO 1, 2,3,4,5
3-4
Chapter 3: Overview and key pillars of neoclassical economics
4
2
3
11
CLO 1, 2,3,4,5
5- 6
Chapter 4: Institutional Economics
4
2
3
10
CLO 1, 2,3,4,5
7
Chapter 5: Keynesian Economics
2
1
1.5
6.5
CLO 1, 2,3,4,5
8
Chapter 6: Keynesian Synthesis – Neoclassical
2
1
1.5
6.5
CLO 1, 2,3,4,5,6
9
Chapter 7: The Crusades against Keynesian influence
2
1
1.5
6.5
CLO 1, 2,3,4,5,6,7
10
Chapter 7: The Crusades against Keynesian Influence Midterm Test
2
1
1.5
6.5
CLO 1, 2,3, 4,5,6,7
11
Chapter 8: New Keynesian Economics
2
1
1.5
6.5
CLO 1, 2,3,4,5,6,7
12-13
Chapter 9: Behavioral Economics and its application to the financial market
4
2
3
9
14-15
Chapter 10: Explanation of the Great Recession of 2009 and its impact on macroeconomic theory
4
2
3
9
CLOs 1, 2,3,4,5,6,7
Total (hours)
30
15
22.5
82.5
CLOs 1, 2,3,4,5,6,7
3. COURSE ASSESSMENT
- Score ladder: 10
- Type of assessment
Form
Content
Criteria
CLO
Proportion
Formative
Attendance
The number of attendances and participation in lesson
4,7
10 %
Quiz, midterm test
Essay writing and group presentation or midterm written test
Exam and/or report/presentation
2,4,5,6
30 %
Summative
Final test
Written test (essay) or others
Exam/Major assignment, essays
2,3,4,5,6
60%
Total:
100%
Note: The format of the final test and the industry engagement activities may vary depending on the real situation.
- Evaluation Criteria
- Presentation Report (if any)
- Format: 1 slide and an overall summary of 2-3 A4 pages
- Content: Assigned topic
- Evaluation criteria:
+ Present the issue clearly, reasonably, and feasibly 2 points
+ Execute a logical, straightforward, practical-contacted presentation 5 points
+ Present citations, use valid references 1 point
+ Use understandable, persuasive presentation manner 2 points
- Major assignment, essay (if any)
- Format: Use prescribed of the Journal of International Economics and Management (JIEM)
- Content: Assigned topic
- Evaluation criteria:
+ Clear and logical identification of the problem 3 points
+ Logical, insightful analysis, with practical connection 4 points
+ Using rich references 1 point
+ Clear language, correct quotations 1 point
+ Creativity in presentation 1 point
- Exam (if any)
- Format: Written or computer-based exam
- Content: Researched issues
- The exam can include multiple choices, essays and semi-choice questions (with explanations for true and false) in 45-60 minutes.
Note: Examination format and industry engagement activities may vary flexibly depending upon real situation