Download Course Outline - College of Micronesia

College of Micronesia
PO Box 159
Pohnpei, FM 96941
Course Title: Economy of Micronesia
Department & Number: SS212
Course Description: This course introduces students to basic economic structures of the
Freely Associates States with more emphasis on development aspect of the Federated
States of Micronesia’s economy. Lessons are drawn from various reports and government
websites and are weaved into three general themes: Palau Economy, Marshall Islands
Economy, and the Federated States of Micronesia’s economy. Basic developmental
economic and macroeconomic principles are also introduced to help students better their
understanding on the economic cycle, and examine past policies that were employed to
stimulate growth of the island economies.
Course Prepared by: F. Yarofaisug
State: National Campus, Pohnpei
Hours per week
Semester Credits
Lecture
3
x
Laboratory
Workshop
No. of week
16
=
x
__________
x
Total Hours
48
=
3
=
________
Purpose of Course: Degree Requirement
Degree Elective
Certificate
Other
=
________
= ___________
_______X ______
_____X_____
___________
__________
 This course also meets PLO#(s): NA
Prerequisite Courses: ESL EN110; SS150
________________________________________
Signature, Chairperson, Curriculum &
Assessment Committee
_____________
Date Approved
________________________________________
Signature, VPIA, COM-FSM
__________________
Date Approved
SS212 ECONOMY OF MICRONESIA
RECOMMENDED BY CAC: 1/18/12
APPROVED BY VPIA: 1/30/12
A. PROGRAM LEARNING OUTCOMES (PLOs):
The student will be able to:
1. Demonstrate the ability to read, speak and write critically and effectively in English
about Micronesian Studies Program course content.
2. Demonstrate proficiency in the geographical, historical, and cultural literacy of the
Micronesian region.
3. Demonstrate proficient knowledge of the structure and functions of the government
and social, political, and economic issues concerning the Micronesian Studies course
content.
4. Demonstrate the ability to perform research and write papers relevant to Micronesia
using different methods and technologies.
5. Demonstrate an appreciation of the requirements of good citizenship in the FSM.
B. STUDENT LEARNING OUTCOMES (SLOs) –GENERAL:
The student will be able to:
1. Demonstrate knowledge on developmental economic concepts and basic tools that are
important to understanding the economy and how it functions.
2. Describe the economics features of the Federated States of Micronesia, Republic of
Palau, and the Republic of the Marshall Islands
3. Describe FSM’s past macroeconomic performance during the first Compact with the
United States, the policies used to improve economic growth, policy alternatives, and
challenges.
4. Describe the development challenges to the productive sectors of the FSM Economy.
5. Demonstrate the ability to analyze and critic FSM developmental reports and able to
write basic recommendations for sector development.
SLO
1
2
3
4
5
PLO1
ID
ID
ID
ID
I
PLO2
I
I
I
I
I
PLO3
D
D
D
D
D
PLO4
I
I
I
I
I
PLO5
I
D
I
I
I
I = Introduced
D = Demonstrated
M = Mastered
C. STUDENT LEARNING OUTCOMES (SLOs) – SPECIFIC:
The student will be able to:
General SLO 1. Demonstrate knowledge on developmental economic concepts and basic
tools that are Important to understanding the economy and how it functions.
Student Learning Outcomes
Assessment Strategies
1.1 Demonstrate understanding of fundamental economic Test (scored with rubric)
concepts such as GDP, the product market, the
resources (factor) market, economic activities,
SS212 ECONOMY OF MICRONESIA
RECOMMENDED BY CAC: 1/18/12
APPROVED BY VPIA: 1/30/12
economic systems, law of demand and supply,
equilibrium prices, and other macroeconomic principles
that are necessary to develop general understanding of
how the economy function.
1.2 Demonstrate ability to interpret economic data,
construct economic models (graph, charts, and tables)
and explain relationship between variables.
Class practice – not
graded
Test (scored with rubric)
General SLO 2. Describe the economics features of the FSM, Palau, and the Marshall
Islands economies
Student Learning Outcomes
Assessment Strategies
2.1 Describe the general economic features of the FSM
economies
Test (scored with rubric)
2.2 Describe the general economic features of the Republic
of Palau’s economies
2.3 Describe the general economic features of the Republic
of the Marshall Islands ‘economies
General SLO 3. Describe FSM’s past macroeconomic performance during the first
Compact with the United States, the policies used to improve economic growth, policy
alternatives, and challenges.
Student Learning Outcomes
Assessment Strategies
3.1 Demonstrate understanding of the FSM GDP, fiscal
policy as a tool to stimulate growth, the share of the
Test (scored with rubric)
public sector vs. private sector, and economic
performance of the FSM Economy during the Compact
1
3.2 Describe the four state economic performance during
the first compact
3.3 Describe FSM sectoral development during Compact 1
General SLO 4. Describe the challenges to develop the productive sectors of the FSM
Economy.
Student Learning Outcomes
Assessment Strategies
4.1 Describe how the FSM Economic structure is in itself
Test (scored with rubric)
an impediment to development (Upside Down
Economy & and an unique economic structure called
MIRAB-which stands for Migration, Remittance, Aid,
and Bureaucracy).
4.2 Explain how the socio-cultural practices of the FSM
Class work
people and how they can be hindrance to development
Test (scored with rubric)
General SLO 5. Demonstrate the ability to analyze and critic FSM developmental reports
and able to write basic recommendations for sector development.
SS212 ECONOMY OF MICRONESIA
RECOMMENDED BY CAC: 1/18/12
APPROVED BY VPIA: 1/30/12
Student Learning Outcomes
5.1 Demonstrate understanding of past economic
performance of the FSM Economy (Review of the FSM
economic performance during the Compact 1 period)
5.2 Demonstrate understanding of past economic
performance of the FSM State economies (Review of
the FSM economic performance during the Compact 1
period)
5.3 Demonstrate understanding of past the FSM sectoral
development (Review of the FSM economic
performance during compact 1 period)
Assessment Strategies
Test (scored with rubric)
Class discussion
Test (scored with rubric)
Class work
D. COURSE CONTENT
1. Introduction to basic economic principles
2. Economies of the Freely Associates States
3. FSM States Economic Performance during the first Compact
4. Socio-cultural and geographical factors impeding economic growth of the FSM
5. FSM Development & Policy Recommendations
E. METHODS OF INSTRUCTION
Lecture, discussions, Group research, scaffolding & coaching exercise
F. REQUIRED TEXTBOOK(S)/ MATERIALS
O’Connor, D., & Faille, C. Basic Economic Principles: A guide for Students, 2000.
Greenwood Press. (or most recent edition)
G. REFEREMCE MATERIALS
Department of Economic Affairs, Proceedings of the 2nd FSM Economic Summit
Government of the Federated States of Micronesia, 1999 (or most recent report)
Hoyle, K., Business Economics Made Simple, 1980. W. H. Allen London, A Howard &
Wyndham Company (or most recent edition)
Retrieved from http://www.spc.int/prism/country/fm/stats/
Retrieved from http://www.spc.int/prism/country/mh/stats/
Retrieved from http://www.palaugov.net/stats/PalauStats/PhysicalFeatures/phyfeat.htm
H. INSTRUCTIONAL COST
None
I. EVALUATION
None
J. CREDIT BY EXAMINATION
SS212 ECONOMY OF MICRONESIA
RECOMMENDED BY CAC: 1/18/12
APPROVED BY VPIA: 1/30/12
None
SS212 ECONOMY OF MICRONESIA
RECOMMENDED BY CAC: 1/18/12
APPROVED BY VPIA: 1/30/12