DESCRIPTION OF SUBJECT

1.

Name of
Course/Module

MALAYSIAN ECONOMY AND POLICY

2.

Course Code

KEB3103

3.

Name(s) of academic
staff

Dr Shankaran Nambiar

4.

Rationale for the

inclusion of the
course/module in the
programme

The rationale to include this course in the academic programme is because

this course is the core and major course in the academic programme. The
course has linkages and minor to the other course offers in the following
semester. Students must pass this course.

5.

Semester and Year

offered

Semester 4 Year 2

Total Student
Learning Time (SLT)

Face to Face

6.

L = Lecture
T = Tutorial
P = Practical
O = Others

Total Guided and Independent Learning

35

78

120 hours

7.

Credit Value

8.

Prerequisite (if any)

9.

Objectives

Principles of Microeconomics and Principles of Macroeconomics

The objective of the course is to enable students :1. To develop knowledge and understanding of key macroeconomic
concepts relevant to the global context and macroeconomic
environment in which businesses operate
2. To develop an awareness and understanding of the omnipresent
forces active in the macroeconomic environment.
3. To develop competence in the construction of a coherent analysis,
evaluation and argument, exploring macroeconomic policy and its
implications for business/ enterprise activity.
4. The significance of the national regional and international institutional
framework within which businesses operate;
5. Aspects of the microeconomic environment of business particularly in
relation to business growth and strategy.

10.

Learning Outcomes

Upon successful completion of this course, the student will be able to:1. Demonstrate knowledge and understanding of macroeconomic goals
and policy on national and regional scale, ethical issues relating to
these areas and issues of sustainability.
2. Retrieve macroeconomic data from directed (primary and secondary)
sources and from independent investigations - commenting upon its
credibility and suitability for purpose.
3. Analyze and evaluate macroeconomic policy in relation to the
achievement of economic goals and subsequent impact upon
business/ enterprise activity.
4. Structure and present a logical argument - exploring macroeconomic
policy options and develop supporting rationale for the implementation
of a particular package of policy measures.
1

11.

Transferable Skills :
Skills and how they
are developed and
assessed, Project
and practical
experience and
Internship

5. Present information logically and succinctly, use appropriate

macroeconomic terminology, including a high degree of aptness for the
intended audience.
6. Demonstrate autonomy, self-appraisal and reflection in completing
work.
7. Plan and manage their learning to ensure adherence to agreed
submission dates. Gain self awareness.
8. Demonstrate skills of debate, negotiation and evaluation in the
construction of a critical appraisal of economic policy.
The transferable skills mentioned in the learning and skills outcomes above
shall be assessed and the mode of assessment of the learning and skills
outcomes are shown as follows :CATEGORY
LEARNING
OUTCOMES
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation

SKILLS
OUTCOMES
Knowledge
Argument
Practical
Research
Creativity
Self-Appraisal
Communication &
Presentation

LEARNING
OUTCOMES
YES
NO

SKILLS
OUTCOMES
YES
NO

X
X
X
X
X
X
-

X
X

Problem Solving
& Contribution

Interactive and
Group Skills

X
X
X
X

Note : Yes denotes that the course contributes to the development of the
learning and skills outcomes and this aspect is assessed. No indicates that
the course contributes to the development of the outcomes but not
assessed. (-) indicates that the course does not contributes to the
development of the outcomes and not assessed.
The transferable skills mentioned in the learning and skills outcomes above
shall be assessed and the mode of assessment of the learning and skills
outcomes are shown as follows :CATEGORY
LEARNING
OUTCOMES
Knowledge
Comprehension
Application
Analysis
12.

Teaching-learning
and assessment
strategy

1.
2.

SKILLS
OUTCOMES
Knowledge
Argument
Practical
Research

LEARNING
OUTCOMES
YES
NO
X
X
X
X

SKILLS
OUTCOMES
YES
NO
X
X
X
X

Lecture
Workshops/Tutorial/Seminar
2

13.

Synopsis

3.
Student Presentations/Role Play
4.
Research Discussion Groups/Case Studies
5.
Practical/Laboratory
6.
Total Guided
7.
Independent Learning
The course will develop awareness and understanding of the
macroeconomic environment. Further, skills of analysis and evaluation will
be enhanced by exploring macroeconomic data and considering the
implications for business organizations. A recurrent theme is the
relationship between macroeconomic goals, policy and business activity. In
concurrence, the use of macroeconomic data is investigated and exploited
to identify opportunities for competitive advantage in business
organizations.
The course shall also considers the influence on businesses of the national
and global market environment in which they operate and at the role of
government and international institutions in affecting that environment. Part
of that process is to consider what firms can gain from trading
internationally and how exchange rates affect trade and financial flows.
Another is to consider how the conditions in which that trade takes place
are affected by the ground rules of the World Trade Organization on the one
hand and trading within regional; blocs like the European Union on the
other. As a next stage, the types of strategy that a business can adopt in
order to benefit from the global economy are reviewed. In particular the
significance of multinational company activities and their relationship to
their host countries is examined. Finally, the way governments intervene in
markets and attempt to influence business behavior is tackled.

Lecture, Tutorial, Workshop and Seminar.

Assessment Methods
and Types

Summative and Formative

Continuous Assessment
Final Exam

18.

Please refer to the document below.

Mapping of the
course/module to the
Programme Learning
Outcomes

Please refer to the document below.

Content outline of the course/module and the SLT per topic

Course topics and contact hours

BUSINESS ENVIRONMENT IN MALAYSIA

(Hrs) Tutorial

17.

Mapping of the
course/module to the
Programme Aims

Lecture
(Hrs)

16.

50%
50%

Others
(Hrs)

15.

Mode of Delivery
Lecture, Tutorial,
Workshop, Seminar,
etc.

(Hrs) Practical

14.

Constituent elements of the business

environment
Opportunity cost
Allocation of resources - critique of economic
systems
The business organization and its aims
The external business environment
Classifying industries
The economists approach to business

ECONOMIC POLICY IN MALAYSIA AND THE

WORLD

Fiscal
policy
economic
welfare,
macroeconomic stabilization and debt
financing
Monetary policy - money creation, controlling
the money supply, monetary policy in an
open market.
Aggregate demand and output - the ISLM
model in the open economy
Analysis of contemporary Malaysia, ASEAN,
EU, USA and other trading block economic
policy
Managing the economy
Objectives of economy policy in an
International context
The rudiments of fiscal, monetary, supplyside and industrial policies

REGIONAL ECONOMIC DEVELOPMENT

Regional policy - analysis of contemporary

regional policy - especial reference to
Malaysia
Structural funding in Malaysia

Business/Economic Trading Blocs the EU

and the Single Market
Perspectives for the enlarged EU, NAFTA,
ASEAN, APEC

GLOBALISATION AND THE GLOBAL

CONTEXT OF BUSINESS
Recent history
Causes and drivers
Consequences for the way international trade
is conducted

INTERNATIONAL POLITICAL ECONOMY AND

THE POLITICS OF GLOBAL WELFARE
Role of the World Trade Organization

TOTAL CONTACT HOURS (14 WEEKS)

35

78

TOTAL CREDIT HOURS (14 WEEKS)

Main reference supporting the course

2.50

0.50

19.

Growth of World Trade

Comparative and Competitive Advantage
Arguments for free trade protectionism &
fair trade
Competition policy, business behavior and
regulation of business

International Monetary Fund and World Bank

Introduction to international political economy
The political economy of international
relations
Trade, money and the trading system
The international monetary system
Economic development and global
governance
The state and the multinationals
The state and economic development
The intergovernmental panel on climate
change
The cooling world
Ominous changes in the worlds weather

Additional references supporting the course

Other additional information

0.00

0.00

1. Griffiths, A. and Wall, S. (2006). Applied

Economics. Financial Times Prentice Hall
2. Sloman, J. (2006). The Economic
Environment of Business, FT Prentice
Hall.
3. Brooks, I., Weatherston, J., and
Wilkinson G. (2006). The International
Business Environment, FT Prentice Hall.
4. Begg D., & Ward D., (2006), Economics
for Business, McGraw Hill.
5. Dicken P., (2006), Global Shift, Sage.
6. Cleaver T., (2006), Understanding the
New World Economy, Routledge
1. Brooks, I. and Weatherston, J. (2007).
The Business Environment Prentice Hall
2. Burda, M. and Wyplosz, C. (2006).
MacroeconomicsOxfordUniversity Press
3. Cook, M. and Farquharson, C. (2006).
Business Economics and Strategy,
Pitman.
Related Magazines, Internet Sites, Newspapers,
Video, Movie, CD-Rom, Others
5

20. Mapping of the course/module to the Programme Aim

PROGRAMME AIM
It aims to produce competent economists and policy makers who have the
knowledge and skills to apply economic concepts and principles to an increasingly
complex economic, social and political environment. The course ultimately
challenges students to develop a holistic approach to development problems and to
come up with sustainable and viable policy recommendations and solutions.

CO1

CO2

COURSE LEARNING OUTCOMES

CO3
CO4
CO5
CO6
CO7

CO8

COURSE LEARNING OUTCOMES

1. Demonstrate knowledge and understanding of macroeconomic goals and policy on national and regional scale, ethical issues relating to these areas
and issues of sustainability.
2. Retrieve macroeconomic data from directed (primary and secondary) sources and from independent investigations - commenting upon its credibility and
suitability for purpose.
3. Analyze and evaluate macroeconomic policy in relation to the achievement of economic goals and subsequent impact upon business/ enterprise activity.
4. Structure and present a logical argument - exploring macroeconomic policy options and develop supporting rationale for the implementation of a
particular package of policy measures.
5. Present information logically and succinctly, use appropriate macroeconomic terminology, including a high degree of aptness for the intended audience.
6. Demonstrate autonomy, self-appraisal and reflection in completing work.
7. Plan and manage their learning to ensure adherence to agreed submission dates. Gain self awareness.
8. Demonstrate skills of debate, negotiation and evaluation in the construction of a critical appraisal of economic policy.

21. Mapping of the course/module to the Programme Learning Outcomes

COURSE OUTCOMES
1. 1. Demonstrate knowledge and understanding of macroeconomic goals and policy on national and
regional scale, ethical issues relating to these areas and issues of sustainability.
2. 2. Retrieve macroeconomic data from directed (primary and secondary) sources and from
independent investigations - commenting upon its credibility and suitability for purpose.
3. 3. Analyze and evaluate macroeconomic policy in relation to the achievement of economic goals
and subsequent impact upon business/ enterprise activity.
4. 4. Structure and present a logical argument - exploring macroeconomic policy options and develop
supporting rationale for the implementation of a particular package of policy measures.
5. 5. Present information logically and succinctly, use appropriate macroeconomic terminology,
including a high degree of aptness for the intended audience.
6.6. Demonstrate autonomy, self-appraisal and reflection in completing work.
7.7. Plan and manage their learning to ensure adherence to agreed submission dates. Gain self
awareness.
8.8. Demonstrate skills of debate, negotiation and evaluation in the construction of a critical appraisal
of economic policy.
PROGRAMME OUTCOMES

PROGRAMME OUTCOMES
PO1
PO2
PO3
PO4
X

X
X
X

X
X

X
X

X
X

1. apply economics theories and critically evaluate the scope and limitations of economic principles to development challenges.
2. demonstrate aptitude for scientific research and the ability to develop critical and problem solving skills when formulating economic
policies.
3. develop business and entrepreneurial skills by utilizing knowledge in economic concepts and principles.
4. develop not only economic skills but also interpersonal and intercultural communication skills which are so needed in a dynamic and
multicultural organisations.