Economics curriculum in the Korean colleges puts the major emphasis on microeconomics and macroeconomics at both undergraduate and graduate levels. Microeconomics deals with the efficient allocation of scarce resources, and macroeconomics deals with t...
Economics curriculum in the Korean colleges puts the major emphasis on microeconomics and macroeconomics at both undergraduate and graduate levels. Microeconomics deals with the efficient allocation of scarce resources, and macroeconomics deals with the short-run macroeconomic problems. This feature of the Korean curriculum simply reflects the economics curriculum in Western developed nations.
It is true that microeconomics and macroeconomics have some degree of relevance to the Korean economic reality. However, the major point is whether microeconomics and macroeconomics have such a large importance as the curriculum indicates.
In order to answer the above question we must know that is "the most" important practical economic problems with which the Korean economy is now facing.
It is reasonable to assume it as the developmental problems simply because the Korean economy is a developing one. If it is correct to argue that economic theory should be closely related with economic reality, economics curriculum should give heavy importance on development economics.
The major reason why theory and reality is far apart from each other in Korean curriculum is that we halve transplanted Western economic theory without much revision and extension with reference to the Korean economic reality.
The appropriate future direction is that we should give more emphasis on development economics, and increase realism of economic theory with special reference to our economic situations.
Meanwhile, we may give greater importance on such course as the Korean Economy, and transform the traditional way of teaching into the "issues" approach which deals with the major practical problems with which the Korean economy is being faced.