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GEH1002/GEK1018
ECONOMIC ISSUES IN DEV WORLD
2018/2019, Semester 1
Arts & Social Sciences (Economics)
Modular Credits: GEH1002 ( 4 ) / GEK1018 ( 4 )
Class Size: 139
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Announcement 2
Files ECONOMIC ISSUES IN DEV WORLD
Learning Outcomes
This module aims to highlight the major economic problems that characterize the present
day developing countries with special reference to ASEAN and East Asian nations. While
the problems and issues are brought out in a nontechnical fashion, the relevant policies
are discussed with the help of appropriate empirical evidences so as to allow the students
to gauge the extent of success achieved by various policies.
The course is likely to impart useful knowledge and information on the prime development
issues that concern the developing world today. After the successful completion of the
module, students should be able to identify the main problems that are currently faced in
the developing countries and would be able to make some policy suggestions in dealing
with these problems. They will also gain some useful experience on the economic
development of Singapore.
Expected Learning Outcomes
As many of you come from the different faculties (and with diverse backgrounds such as of
different nationalities) and do not have any economics background, this module is
developed and taught with the following objectives in mind:
At the end of the course, you should:
1. acquire knowledge and a broad awareness of the various economic issues faced by
the developing countries, in particular countries in this region,
2. understand how policies are implemented in developing countries to meet specified
goals and objectives,
3. apply the knowledge gained and make suggestions in dealing with the issues faced
by the developing countries or their country of origin,
4. cultivate a deeper interest in current world affairs, such as the financial crisis and
international trade, and
5. analyze how the knowledge gained can help prepare you for the marketplace upon
graduation.
In the learning process during the semester, you also have the opportunity to:
1. develop your analytical and critical thinking skills,
2. develop your reasoning and argumentation skills,
3. demonstrate resourcefulness,
4. demonstrate good organizational skills,
5. demonstrate good rsearch and essay writing skills,
6. learn how to be receptive to other ideas and critique from fellow students,
7. experience and develop good presentation and public speaking skills, including the
use of application tools such as powerpoint and media such as the personal
computer and overhead projector, and
8. demonstrate teamwork.
Means of Accomplishing Learning Outcomes
For this semester, the learning outcomes are accomplished mainly through:
1. the weekly lecture sessions,
2. lecture participation via quizzes,
3. the use of videos,
4. tutorial participation and,
5. group essay assignments and presentations.
The teaching of this module incorporates the elements of “blended education”. These
include the use of videos, to help enhance your knowledge on the topics discussed and,
quizzes are given to assess your understanding of the topic before and after the lectures.
The quizzes are developed using the IVLE quiz facility, using the multiplechoice format.
1. Lecture Participation (via quizzes)
Lecture participation starts from Week 3 onwards. You are encouraged to bring your own
devices (PC or smartphone) to assess the MCQ quizzes before the lecture starts and, at
the end of the lecture session. The idea is to help you to assess your familiarity with the
topic before the lecture starts and reaffirm your understanding after the discussion of the
topic ends.
2. Videos viewing
Many videos are taken from credible organizations from their websites or others. Students
from the previous semesters highlighted the benefits that they gained from watching the
videos, which enhanced their knowledge and appreciation of the topic discussed during the
lectures.
3. Group Assignment and Presentation
You will be working in groups of 35 students on an essay assignment. This exercise allows
you to get a good grasp of the current issues that the developing world faces, become
aware of the various government policy implementations, sharpen your skills in articulating
your stance on the question topic, analyze if best practices can be adopted, reflect your
organizational skills and, be very concise in your presentation.
You are strongly encouraged to be resourceful when looking for information, such as from
journal articles, books, publications and websites. You need to give references to all
relevant materials in the bibliography section and to highlight realworld examples
(particularly examples from the countries you are drawing insight from).
The assignments also allow you to experience working as a team, cooperating and learning
from one another even though all of you hail from different faculties.
Syllabus
While the module attempts to cover a wide range of topics, special attention is taken to
avoid sacrificing the depth of each topic discussed. The following is the syllabus with some
topics taught over two weeks. Some of the objectives of each topic taught are highlighted.
1. Economic Growth Indicators
Why is economic growth so important?
Is economic freedom essential for economic growth and development?
How is economic growth related to income distribution and quality of life?
2. Twin Hazards of Economic Growth: Deprivation and Poverty
Why is there controversy in achieving economic growth?
What are the manifestations of poverty?
How is income distributed within and among countries?
What are some development strategies to be implemented to reduce poverty
substantially?
3. Millennium Development Goals (MDGs) and Sustainable Development Goals
(SDGs)
What are the main objectives of implementing the MDGs and SDGs by the United
Nations?
How were the objectives of the MDGs achieved?
4. Is the Free Market Approach the only Practical Road to Economic Development?
What are Amartya Sen’s views on the role of the State and the Market?
Does the experience of developing countries support the widelyheld view that the
“Washington
Consensus” offers the only practicable road to economic development?
What are the functions of government according to Adam Smith? How does his
views differ
from the World Bank’s endorsement of a ‘marketfriendly’ role of government?
Are the Santiago Consensus and the Beijing Consensus alternatives to the
Washington
Consensus?
5. Singapore’s Interventionist Approach
Should governments intervene in economic activities?
When is privatization economically warranted? When can it be detrimental?
How does Singapore combine the invisible hand of the market with the visible hand
of the
state to achieve the required economic development?
How is good governance crucial in economic development?
6. Population Growth; India, China and Singapore scenarios
What is the world population growth rate?
Will economic growth continue forever? Are there limits to growth?
Discuss the population explosion situations in China and India.
What is “Sustainable Development”?
What are the implications of having a falling birth rate and an ageing population for
the
Singapore economy? Will such a scenario hinder Singapore’s growth in the future?
7. Capital Market Liberalization and Financial Crises (Mexican Financial Crisis,
Asian Financial
Crisis, USA Sub-Prime Mortgage Crisis)
- What are the forces driving financial deregulation?
- Did the Asian model fail because of international financial markets? Had it gone
too far?
- How would you improve upon the Asian model to withstand future financial crisis
such as the
2008 global financial meltdown, due to the USA Sub-Prime Mortgage Crisis?
8. Economic Growth and International Trade
What are the obstacles to a successful trade liberalization process? What are the
challenges
faced?
What are some of the recent policy debates in international trade? (such as
dumping,
environmental protection, income inequality)
Will bilaterism and regionalism become a stumbling block for the WTO?
Will regional groupings fragment the world economy and run counter to the
globalization of
trade?
9. Global Environment and the Developing World
What is the impact of global pollution on the developing world?
Must prevention of global warming end economic growth?
What are the policy options available for the Less Developed Countries’ (LDCs)
governments?
Is environmental protection too expensive for poor countries?
Why is international action essential to deal effectively with environmental issues
such as
ozone layer and global warming?
10. Economic Growth and Democracy
What is the net effect of democracy on economic growth?
Do you think the autocratic regime of China can survive in the face of continued
economic
growth?
Why should the advanced western countries not try to impose their own political
systems upon
the poor countries?
Assessment
Assessments (Tentative)
Component Weight (%)
Individual Assessments:
Tutorial Attendance and Participation 10
Lecture Participation (quizzes) 10
MidTerm Test (MCQ) (Close Book) 20
Final Examination (Open Book) 40
Group Assessments:
Essay Writing and Presentation 20
TOTAL 100
Preclusions
GEM1018K, GEK1018
Workload
2-1-0-2-5
Schedule
12 TOPIC 10 GROUP
(0509/11) Economic Growth and Democracy ASSIGNMENT
TOPIC 5
13 WRAPUP
(1216/11) TUTORIAL
READING WEEK
(1723/11)
FINAL EXAMINATION
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