In this chapter, the authors outline a plan for implementing CBL in economics education and highlight some of the key tools and resources that can be used to enhance the learning experience. They provide access to data analysis tools for the students that can provide access to data analysis tools such as statistical software packages and online databases. This can enable them to analyze economic data more effectively and develop their data analysis skills. There is the platform to study all types of data analysis tools that may be useful to both educators and students for learning the economics. The chapter emphasizes the importance of conducting a needs assessment, developing digital resources, establishing the necessary technology infrastructure, providing faculty training, and implementing the CBL strategy across all economics courses. The chapter also highlights some of the tools and resources that can be used to support CBL in economics education, including Microsoft Excel, statistical software packages, geographic information systems, and business intelligence (BI) software.
TopDefine the Problem
The problem identified for the influence of data analysis tools in teaching and learning economics is the lack of practical application and hands-on experience for students. Traditional economics education often focuses on theoretical concepts and models but does not provide students with the skills and tools necessary to analyze and interpret real-world economic data. As a result, students may struggle to understand how economic concepts apply to real-world situations and may have difficulty finding employment in industries that require data analysis skills.
The lack of practical application in economics education can also lead to a lack of interest among students. Economics can be a complex and abstract subject, and without practical examples and hands-on experience, students may struggle to see the relevance and value of the subject.
The use of data analysis tools in economics education can help to address these issues by providing students with practical examples and hands-on experience with real-world economic data. By using these tools, students can see how economic concepts and theories apply to real-world situations and can develop the data analysis skills necessary for employment in a variety of industries (Kaplan et al., 2016). Additionally, the use of data analysis tools can make economics education more engaging and interesting for students, increasing their motivation and interest in the subject.
Literature Review
According to a study that was published in the Journal of Economic Education, using a data analysis tool in a microeconomics course helped students better comprehend economic principles and their capacity to apply those principles in practical settings (Bratt et al., 2020; Kolb & Kolb, 2005; Velegol et al., 2015). The study also discovered that using the data analysis tool helped students develop their capacity for critical thought and problem-solving (Daniel, 2015; Proitz et al., 2017; Schouten, 2017).
Another study published in the Journal of Economic Education examined the impact of a data analysis tool on students' performance in a macroeconomics course [8]. The study found that students who used the data analysis tool performed better on exams and assignments than students who did not use the tool [3].
Data analysis tools in economics education published in the Journal of Economic Surveys found that the use of these tools can help to bridge the gap between theory and practice, and can enhance students' understanding of economic concepts and their ability to analyze and interpret economic data [10].