|
Level
|
Score
|
Criteria
|
Economic Knowledge
|
|
Excellent
|
3
|
- Demonstrates in-depth understanding of the key economic factors in the economic issues under study with clearly explained details that are particular to the situation.
- Appropriately applies theories and methodologies in analyzing the economic issues under study with adjustments in assumptions that reflecting the particular situation.
|
|
Acceptable
|
2
|
- Correctly identifies the various driving forces or factors in the economic issues under study.
- Utilizes the correct or most relevant economic theories or methodologies in economic analyses.
|
|
Weak
|
1
|
- Most economic forces or factors are identified correctly, but minor misunderstandings exist on some of the concepts.
- The basic analyses of the economic issue are plausible with some minor mistakes in reasoning or minor errors in conclusions.
|
|
Deficient
|
0
|
- Exhibits major misunderstanding of key economic factors or forces in the economic issue under study.
- Key conclusions are incorrect due to misuse of economic theories, erroneous reasoning or both.
|
Analytical Skills
|
|
Excellent
|
3
|
- Demonstrates logical, coherent and clear economic reasoning in analyzing economic phenomena and predicting possible economic outcomes.
- Clearly distinguishes: assumptions vs. conclusions, normative vs. positive statements, causes vs. consequences.
- Provides logical, coherent and clear economic reasoning when debating alternative explanations for an economic issue under study.
- Creates clearly labeled illustrations of diagrams which effectively facilitate the analysis of economic problems.
|
|
Acceptable
|
2
|
- Provides plausible explanations to an economic issue using some logical reasoning with some degree of coherence and clarity.
- In formulating an economic argument, can largely distinguish: assumptions vs. conclusions, normative vs. positive statements, causes vs. consequences.
- Provides reasonably plausible arguments when debating alternative explanations for an economic issue under study.
- Creates some illustrations or diagrams that are helpful to communicate the analysis of economic problems.
|
|
Weak
|
1
|
- Provides some explanations to an economic issue with weak logical reasoning and low degrees of coherence and clarity.
- In formulating an economic argument, occasionally mixes up: assumptions vs. conclusions, normative vs. positive statements, causes vs. consequences.
- Dismisses alternative explanations for an economic issue under study without clear analyses or reasoning.
- The provided illustrations or diagrams are not clearly labeled, only loosely connected to the analysis performed or with insufficient explanations.
|
|
Deficient
|
0
|
- Lacks logical reasoning in explaining or analyzing an economic issue under study.
- In formulating an economic argument, constantly mixes up: assumptions vs. conclusions, normative vs. positive statements, causes vs. consequences.
- Dismisses alternative explanations for an economic issue under study with illogical argument or based on misunderstandings.
- The provided illustrations or diagrams are labeled wrong, unrelated or unhelpful to the analysis performed or without necessary explanations.
|
Quantitative Analytical Skills
|
|
Excellent
|
3
|
- Collects sufficient and relevant data that can provide insight in the economic issues under study and generate meaningful statistical conclusions.
- When analyzing collected data, correctly chooses the relevant statistics and econometric models, with necessary modifications.
- Accurately interprets the statistical results from the quantitative analysis.
|
|
Acceptable
|
2
|
- Data Collected are relevant for the analysis of the economic issues under study and has potential to provide some statistical insights.
- Provides the relevant statistics and apply econometric models that are commonly used in analyzing the economic issues under study.
- Correctly interprets most of the statistical results from the quantitative analyses performed.
|
|
Weak
|
1
|
- Data collected are loosely related to the analysis of the economic issues under study and have limited potential to provide statistical insights.
- The statistics provided and the econometric models applied has weak relationships to the economic issues under study.
- Interpretations of the statistical results are exaggerated or contain minor mistakes.
|
|
Deficient
|
0
|
- Data Collected are unrelated to the analysis of the economic issues under study and cannot provide statistical insights.
- The statistics provided and the econometric models applied are not suitable to analyzing the economic issues under study.
- Interpretations of the statistical results are incorrect.
|
Critical Thinking Skills
|
|
Excellent
|
3
|
- Clearly distinguishes various alternative or related explanations of the economic issue under study with a detailed comparison of their differences and similarities.
- Accurately describes the advantages and shortcomings of alternative or related explanations of the economic issue under study.
- Clearly explains the potential flaws in one’s own arguments or explanations for the economic issue under study.
|
|
Acceptable
|
2
|
- Compares alternative or related explanations of the economic issue under study with some clarity.
- Offers reasonably clear descriptions for the advantages and shortcomings of alternative or related explanations of the economic issue under study.
- Explains limitations in one’s own arguments or explanations for the economic issue under study with some clarity.
|
|
Weak
|
1
|
- Compares alternative or related explanations of the economic issue under study without clarity.
- Offers vague descriptions for the advantages and shortcomings of alternative or related explanations of the economic issue under study.
- Vaguely explains or fails to realize minor limitations in one’s own arguments or explanations for the economic issue under study.
|
|
Deficient
|
0
|
- Fails to distinguish alternative or related explanations of the economic issue under study.
- Fails to recognize the advantages and shortcomings of alternative or related explanations of the economic issue under study.
- Fails to recognize the major limitations in one’s own arguments or explanations for the economic issue under study.
|
Self-development Skills
|
|
Excellent
|
3
|
- The expositions of concepts or theories not taught in the Economics curriculum are clear, precise and intuitive.
- Formulates new concepts, measures or theories in explaining new economic phenomenon, which can facilitate logical understanding and analyses.
- Correctly invents new methodology or modifies existing methodology in analyzing new or unique economic phenomenon.
|
|
Acceptable
|
2
|
- The expositions of concepts or theories not taught in the Economics curriculum are reasonably clear.
- Formulates new concepts, measures or theories in explaining new economic phenomenon, providing some insights into it.
- Attempts to invent new methodology or modify existing methodology in analyzing new or unique economic phenomenon.
|
|
Weak
|
1
|
- The expositions of concepts or theories not taught in the Economics curriculum are reasonably understandable but not very clear.
- Newly formulated concepts, measures or theories are not very well defined or explained or can only provide limited insights.
- Makes limited attempts to modify existing methodology in analyzing new or unique economic phenomenon.
|
|
Deficient
|
0
|
- The expositions of concepts or theories not taught in the Economics curriculum are not explained clearly.
- Formulates no new concepts, measures or theories in explaining apparently unique new economic phenomenon where existing economic tools are not suitable to explain.
- Makes no attempts to modify existing methodology in analyzing new or unique economic phenomenon, which leads to erroneous predictions.
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