The role of teaching approaches in the process of formation of professional skills of economists

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The role of teaching approaches in the process of formation of professional skills of economists

International trade and the process of globalization require many countries and their economies to compete with each other. Economically successful countries will hold competitive and significant advantages over other economies. In this situation the country's economy will be made of various industries that will have different advantages and disadvantages in the global marketplace. The training of a country's specialists is a major factor in determining how well the country's economy will do.

Economics career education is incredibly flexible and can apply to several specialty fields. In today's marketplace a degree in Economics offers vast career opportunities for the so-called "free agent" marketplace.

Working at the state or local government level allows economists to apply their skills in areas such as forecasting, taxation, revenues etc. Economists in state and local government aid in establishing economic development plans for the regional economy. A solid base of knowledge on economic theory and analytical skills will enable them to become experts in economic and social development policies and to critically analyze and reform policies, and working collaboratively with international organizations on developmental issues.

The issues of professional economic education in Ukraine were researched by N. Volkova, P. Gorkunenko, G. Kurdumov, М. Levochko and others; the aspects of professional skills of future economists were investigated by І. Gornostaeva, Т. Stepanova and on international level by J.M. Keynes, P. A. Samuelson and others.

But the study of the scientific and methodological literature shows certain shortage in a complex analysis of the research of the problem of formation of professional qualities of future economists in the conditions of competitive marketplace.

The objective of the article is to disclose basic teaching approaches which form professional competence of future economists.

The first objective in training is to produce graduates who are well-grounded in economic analysis, fulfilling the national subject benchmarks. This is an essential feature of any Economics programme. It is also desirable for students to be exposed to a balance of theoretical and applied material.

As Kim Marie Goldrick and Peter Smith stated in their works, “we want our graduates to be able to think like economists. This is less well-defined, but most would acknowledge that this is part of our aim in designing a programme. We would also want to produce graduates who are reflective learners. This is more challenging in a world in which students become increasingly exam-oriented, and in which many students come to university from educational backgrounds that have not fostered independent study” [6].

Of course, one of the complications here is that there is no unique destination for an Economics graduate, so the curriculum needs to be designed in such a way that it can prepare our students for multiple alternative life paths.

Some of our students may wish to continue their studies in economics, pursuing their studies to postgraduate level, and possibly beyond. Others may have an ambition to become professional economists. Some may wish to enter a career in finance or management. Others may enter a wide variety of other careers connected to economics to varying degrees [9].

The famous economist John Maynard Keynes described the skills that a `master economist' must possess: “he must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher - in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light of the past for the purposes of the future. No part of man's nature or his institutions must lie entirely outside his regard” [5].

This list indicates the skills that Economics students need to gain. They have to communicate quite complex ideas and theories clearly, take on numerical calculations, and interpret various data. They also have to analyse and assess economic problems and solutions, interpret and use diagrams, and use information and communications technology skills.

In developing these skills, it is useful to apply a variety of basic teaching approaches. The variety increases students' motivation and as their skills develop, they will find the subject more comprehensible. They will learn to think as an economist and to use the tools of an economist.

In the past, our attempts at student participation in Economics teaching have involved presentation of theory, after which students are asked questions on the theory or on applications. More recently we have reversed this process. Beginning with participation, we have encouraged students to think of possible structures before presenting the theory and sometimes even begun with examples away from the context of the specific application. By considering structure before theory, students develop an understanding of the selection of variables and identification of relationships. Where possible, consideration of a situation similar in structure but distinct from the ultimate application frees students from preconceived views on the area. This is useful for identifying general principles and issues.

The usual method of teaching Economics at university level traditionally centres on a lecture format, accompanied by visual aids, such as demand and supply charts. This conventional approach may not always engage the attention or interest of students. University Economics teachers should explore other methods of instructional delivery, more active tools that get students involved in learning the basics of the discipline.

Broadening teaching methods in Economics does not mean abandoning the traditional lecture approach. Teachers can, however, enhance lecture material by incorporating more student-centered activities that help keep students' attention. Lecturers can require students to review certain material that is relevant to future lectures. In addition, teachers can assign short quizzes or writing assignments based on lecture material or brief readings that supplement the assigned textbook.

Now let us consider some teaching approaches which to our mind will motivate the process of learning.

The first teaching approach we would like to consider is developing students' oral communication, which increases their confidence, makes it more likely that they will ask when they do not understand something, helps them to formulate ideas and arguments, and enables them to learn from each other. Question-and- answer sessions are a simple and effective way of promoting oral skills that can be used throughout the course study. They are a good way of checking students' ability to recall key points at the beginning and the end of a class, and they can be used during the class to evaluate understanding. They also allow differentiating more searching questions to more able students and more straightforward questions to less able students. Class discussions can help to develop oral communication skills, but they have to be carefully planned to avoid the discussions drifting and to ensure that all students are involved. To achieve this, students can be given briefing sheets with discussion points and, on occasion, can be divided into smaller groups, with representatives from each group reporting back findings to the class. Role playing and simulations can be used to develop not only oral skills but also data interpretation and writing skills. Students often respond very positively to such activities. They enable students to understand the factors influencing economic decisions, provide variety in classroom activities, and again generate opportunities for differentiation. Presentation is another way of advancing their oral and writing skills. Students can be asked to research a topic individually, in pairs or in groups, and then to present their findings to the class. Presentations can also enable students to make use of visual and ICT equipment.

The second teaching approach we would like to consider is written communication. To answer examination questions relevantly and correctly, it is important not only that students understand the concepts they are discussing but also that they have good language skills and feel confident in using Economics terms. There is a variety of ways of seeking to develop students' ability to write Economics answers in a clear and relevant way. Encouraging them to read widely, including extracts from textbooks and articles in Economics magazines and newspapers, should expose them to good writing and a variety of writing styles. When they come across an Economics term, they can add it to their vocabulary with an appropriate definition. The definitions should be checked regularly. An accurate vocabulary and clear notes can be used by students to inform their answers. Most students are likely to need advice on note taking [8].

Worksheets are particularly useful in developing understanding of the subject. At the start of the course these can concentrate on short-answer questions assessing knowledge, understanding and application. If students have limited English-language skills, early worksheets can require students to select the appropriate words to use to fill in gaps. As the course progresses, these worksheets can become more demanding, requiring longer answers and assessing not only knowledge, understanding and application, but also analysis, judgement and decision making. Partway through the course students can be introduced to past examination questions. In providing guidance to students on how they answer questions, it is important to emphasise that they should pay particular attention to the directive words in questions.

Note-taking is another important written communication skill and the one which should be seen as a part of active learning. An ability to take good-quality notes from a variety of sources including lessons, books and television programmes will help a student progress through the course. Notes serve a number of purposes, including identifying key points, analysing data and providing information for class work, homework and revision purposes. Many students waste time and effort writing down everything a teacher says and every word from a section of a textbook to very little purpose. In practice a teacher likely to have to help students develop their note-taking skills. Some advice may include recording the source of the notes and the date, taking notes for a specific purpose, considering what information is needed, writing concisely, using own words where possible, using headings and subheadings, lettering and numbering schemes, highlighting important issues, using abbreviations for common words and for Economics terms.

The third teaching approach is numeracy competence. At this level the key numerical skills are calculating percentages, calculating percentage changes, calculating averages, interpreting index numbers, interpreting statistical tables, distinguishing between changes in growth rates and absolute changes.

Students have very different levels of mathematical competence. Even some of those with reasonable levels of numeracy may find numerical work rather off-putting. It is important to try to put them at their ease and to make them confident in undertaking numerical calculations. Confidence is the key to numerical competence, and this is gained through practice. Some of the calculations that students will have to carry out are the ones they are likely to be already familiar with.

Interpreting data is a skill which enables economists to evaluate economic theories, to examine economic trends and to assess the effects of economic policies. Its importance is reflected in examinations. It is tested in multiple-choice papers, in coursework and in structured questions papers. In such papers the data may come in a variety of forms, including newspaper articles, extracts from books and reports, statistical data and diagrams.

When answering questions based on given data, there are a number of key points of advice for students. It is recommended to check the date and source of the data, read through the questions first, check the data carefully, take note of any general heading, headings of a table, footnotes and axes of diagrams. For instance, check whether statistical data is given in real or nominal figures.

They should also check carefully whether figures are showing absolute changes or percentage changes, go back and check the marks allocated to each question as this will give an indication of the time which should be devoted to each one.

Problem-solving is another important approach. A good economist is one who can analyse the causes of a problem - for example, unemployment, pollution or world poverty - examine the consequences and make reasoned judgements about possible solutions. Economics students need to consider different viewpoints and to base their decisions on economic analysis. Many students initially base their judgements on their own experience only and think in terms of one right answer to a problem, expecting the teacher to provide that `answer'. They should be encouraged to distinguish between evidence and opinion, and to appreciate that the real world is a complex and ever-changing place, that economic theory is subject to limitations, and that there is often no `right answer'.

Diagrams play a vital role in Economics. They are used, for example, to illustrate changes in economic variables over time, to analyse changes in variables, and to assess the nature of economic relationships.

Students need to be able to plot and draw diagrams, particularly demand and supply diagrams, and to interpret a range of diagrams. They should be required to use and comment on diagrams from the start of the course. This will increase their confidence and the accuracy of their work. Interpreting and using diagrams Students should be familiar with a range of diagrams, including graphs showing the relationships between variables, pictograms, pie charts, bar charts, time series graphs and cartograms.

Students need to recognise whether the graphs show a positive or a negative relationship. They should check what the axes represent, the scales, and whether the value of one variable rises or falls in response to a change in the other variable. Care has to be taken in interpreting graphs. A graph illustrates a possible relationship but does not itself prove or explain that relationship.

Pictograms use pictures or symbols to show data. A key has to be provided with a pictogram, indicating the quantity represented by each picture. Pictograms have the advantage that they can present data in a simple and clear manner and so can be useful in coursework. However, it may not be possible for a symbol to represent a low value since they may involve the use of too many pictures or symbols in some diagrams.

Pie charts are often used in Economics. The name is derived from the fact that these circular diagrams are divided into slices. These are designed to be easy to interpret. They usually show the percentage values of the components of a total; for instance, the percentage contribution of particular taxes to total tax revenue.

Bar charts consist of one or more bars (columns), in which the length of the bar indicates the magnitude of the data. They are used to show a comparison of the size of the quantities of similar items. The bars can be drawn vertically or horizontally. They can also be drawn with or without a gap between them. Bar charts are quite often used in multiple-choice papers.

Another approach is a time series graph. This is the name given to a series of figures recorded over time. The series may be plotted at daily, weekly, monthly, yearly or another interval of time, and the horizontal axis (the x axis) is always chosen as the time axis. Students should be taught how to read a trend from a time series graph.

Cartogram is a way of presenting geographical data. It involves drawing a map to show, for example, unemployment percentage by area. Shading can be used, with a key or figures placed on the map. It involves more preparation than some diagrams since a map has to be drawn or reproduced and divided into the desired regions. Nevertheless, it can be a clear and attractive way to display information and can be used in coursework.

Information and communications technology is becoming increasingly important for students of all subjects. Encouraging students to develop their ICT skills will enhance their learning in Economics in a number of ways. These include increasing their access to information, enabling them to undertake investigations, and improving the presentation of their work. Students can also undertake learning activities and assess and model economic performance and decisions by using relevant websites.

Thereby, theoretical analysis of modern approaches to the process of training future economists shows that present day situation does not completely agree with modern demands of professional education. A considerable problem is imperfection of scientific and methodological providing in training future economists.

That includes renovation of content as well as procedural components of education process. In order to solve this problem we have to thoroughly work out state standards of the European level on the basis of competence accumulation, innovative education and information technologies and objective assessment. The prospects of further research will include study of pedagogical conditions which facilitate the increase of the professional level of future economists.

teaching competence professional

Literature

teaching competence professional

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5.John Maynard Keynes. Essays in Biography, The Collected Writings of John Maynard Keynes, vol. X, Royal Economic Society, Macmillan Press Ltd. - 1972. - 460p.

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8.Susan Grant. Teaching and Assessing Skills in Economics. Cambridge University Press. - 2005. - 87 p.

9.http://www.economicsnetwork.ac.uk/handbook/ugresearch/.

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