Principles of Economics

Principles of Economics

1.  Objectives of the Course

To know the foundations of economics concept. To understand economics and the current economy. To understand the role of markets, national income, and other institutions in the economy. To apply the knowledge of economics to every life.
2. Reasons for Course Development/Modification
  To help the students apply the knowledge of economics to the current situation.
1. Course Description
Knowledge about supply-demand equilibrium price theory; production and pricing and product types in the market. Understanding of national income, international trade finance, bank finance and economic development. Ability to analyze economic problems to show initiative and creativity in developing solutions to economic problems
3. Number of hours provided for academic advice and guidance to students
-    The faculty member provides academic advice and guidance to students (individual/group)
      6 hours/week.
-    The faculty member announces the advising schedule by the request of students such as Microsoft Teams System, Googles Classroom and application on electronic devices.

1.1 Learning outcome on ethics
Students must have morality and ethics to get along with others in society and express their ethical behavior for public benefit. Subject teachers have to encourage students to develop their ethics and morality along with subject content as follows:
1.1.1 They are service-minded and are aware of moral and ethical values.
1.1.2 They possess professional and academic ethics.
1.1.3 They are self-disciplined, diligent, tolerant, punctual, and accountable
for themselves and the environment.
1.1.4 They respect the values and the rights of others.
There are also several subjects that encourage students to develop their morality and
ethics, for example, Life and Social Skills, and English for Career. Subject teachers should integrate professional ethics into the subjects. They should also evaluate students’ ethics by observation during classroom activities. Students whose behaviors do not meet the criteria are required to do social service.
1.2 Teaching strategies for developing ethics
A working environment should be established to cultivate students’ discipline focusing on punctuality and proper uniform. Ethics learning should be integrated in every subject to promote social and environmental mindfulness. Student should be encouraged to be involved in academic and professional services to support their community. Also they should be aware of the need for environment conservation. Students who show a high level of commitment to these issues should be promoted as role models.
1.3 Assessment strategies on students’ ethics
Students behaviors and performances are evaluated based on the following criteria:
1.3.1 Punctuality
1.3.2 Discipline and participation
1.3.3 Accountability
1.3.4 Loyalty and Trustworthiness
2.1 Learning outcome on knowledge
2.1.1 Understanding theories and the principals of course content.
2.1.2 Updating technology and academic development in their fields.
2.1.3 Integrating professional knowledge into relevant subjects.
2.2 Teaching strategies for developing knowledge
Many approaches to student-centered learning include Work Integrated Learning and CDIO. The aims are to promote application to real world and cope with rapid changes in technology. Field trips, professional seminars are implemented according to the course contents.
2.3 Assessment strategies for students’ knowledge
          2.3.1 Formative assessment
          2.3.2 Summative assessment
          2.3.3 Assignments
          2.3.4 Presentation
          2.3.5 Portfolio
3.1 Learning outcome for Intellectual skills
          Students should be able to improve themselves and develop their career path by developing reasoning abilities, making rational just decisions, critical thinking and problem solving.
3.1.1 Knowledge application skills and creative thinking skills.
3.1.2 Thinking systematically skills.
3.2 Teaching strategies to develop intellectual skills
          Multiple approaches to student-centered learning include, work integrated learning, STEM education as the focus. These approaches aim to promote students analytical thinking by role playing, simulation and case study.
3.3 Assessment strategies on students’ intellectual skills
          3.3.1 Role plays or simulations.
          3.3.2 Choosing various problem solutions in different contexts.
          3.3.3 Assessment of report presentation in classes.
          3.3.4 Testing knowledge by using quiz or interview.
4.1 Learning outcome for Interpersonal skills and responsibility
Students should be able to:
4.1.1 Establish good relationship with others and show social etiquette.
4.1.2 Be a good team leader and a team player.
4.1.3 Develop team work and problem solving skills.
4.1.4 Provide social service in proper issues.
4.2 Teaching strategies for developing Interpersonal skills and responsibility
Group and collaborative activities, as well as ethnography research and interviews are
the focus.
          4.2.1 Able to work in teams and well co. ordinate well with others.
          4.2.2 Responsibilities for their assignment and duties.
          4.2.3 Adaptable to the situation and work well in a corporate organization.
          4.2.4 Building good relationships.
          4.2.5 Expressed their leadership and followership suitably in some situations.
        4.2.6 Have knowledge about a person’s communication culture and able to be placed appropriately in right time, custom and resolution specific of each culture.
4.3 Evaluation strategies for interpersonal skills and responsibility
          Authentic and performance-based assessments are implemented in the following forms:
          4.3.1 Behavioral observation of presentation performance.
          4.3.2 Behavioral engagement in classroom activities.
5.1 Learning outcome for Numerical, Communication and Information Technology skills
          5.1.1 Select appropriate modes and tools to communicate.
          5.1.2 Research, analyze data, and apply technology to solves problems.
          5.1.3 Use Thai and English to communicate with others appropriately and
5.2 Teaching strategies for developing Numerical, Communication and Information
Technology skills
          Multiple approaches to student-centered learning include, work integrated learning, STEM education as the focus. These approaches aim to promote students analytical thinking.
          5.2.1 Use information technology as a tool for communication
          5.2.2 Use information technology as a tool for finding information
          5.2.3 Use information technology as a tool for presenting
          5.2.4 Use information technology correctly, appropriately in traditions of each society
5.3 Assessment strategies for Numerical, Communication and Information
Technology skills
Evaluation Strategies on numerical, communication and information technology skills.
Authentic and performance-based assessments are implemented to enable students to use information technology for communication, research, presentation, in accordance with cultural and situational awareness.
กิจกรรมที่ ผลการเรียนรู้ * วิธีการประเมินผลนักศึกษา สัปดาห์ที่ประเมิน สัดส่วนของการประเมินผล
1 1, 4 Class participation and attendance 1-16 10%
2 2, 3, 5 Mid-term exam 10 30%
3 2, 3, 5 Final exam 18 30%
4 2, 3, 4, 5 Test Exercises 1-16 10%
5 2, 3, 4, 5 Assignments(Case study, Homework, Test) 1-16 20%
Main Texts and Teaching Materials

Foundation of Economics by Robin Bade and Michael Parkin. 7e Economic Principles: A Contemporary Introduction by William A. McEachern, 9e Essentials of Economics by R.Glenn Hubbard and Anthony Patrick O’Brien, 4e

      - The Exploration of Economics by Sexton, 5e
2. Essential Teaching Resources
 Books, journals, websites and other documents related to Economics
3. Recommended Teaching Resources

Business Week The Economist
1. Evaluation Strategies for Course Effectiveness by Students     

Communication between students and teachers Assessment and evaluation of instructor and course Group discussion between the instructor and the students The observation of the behavior of the students

     5. Participation in the class discussion of the students
2. Teaching Evaluation Strategies

Academic performance of students

     2. Verification of the assessment
3. Teaching Improvement

Workshops for teachers Classroom observation

     3. Student Feedback
4. Verification of Students Achievements in the Course

Exercises and assignments required to submit Participation of the students assigned to the exercises assigned classmates listen and check for accuracy

     3. Verification by the measure of the instructor
5. Course Review and Improvement Plan for Course Effectiveness

Improve teaching plan each year Update course

      3. Improve teaching method every year