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Comparative Study of Korean and Chinese University Students’ Economics and Business Literacy

East Asian Journal of Business Economics / East Asian Journal of Business Economics, (E)2288-2766
2022, v.10 no.1, pp.95-108
https://doi.org/10.20498/eajbe.2022.10.1.95
Byoung-Il CHOI

Abstract

Purpose – This study attempts a multifaceted analysis utilizing the Chinese test takers’ results of the Economy & Business Aptitude Test. Since Chinese students study socialist theories of economics along with market-based ones, comparing Chinese university students’ basic knowledge of economics and business and its application to those of Korean test takers is also very meaningful from the perspective of economics education research. Research design, data, and methodology – This study investigates the results on the test of economy and business understanding between Korea and China. For comparison of the result, we conducted MK-TEST for two universities in China. Result – This study finds that the average correct answer rate of Korea is higher than one of China according to the overall results. The average difference rate is about 15% between Korea and China. More concretely, the correct answer rate of business area is higher than one of economy area, identifying them by subject area. Conclusion – According to the results, this study can infer that there are no or little differences in the ability of examinee to solve applied questions between Korea and China and the differences of the scope and emphasis point in an academic curriculum between both countries might bring these kinds of results. Finally, Chinese students shows higher correct answer rate to the questions about the economy issues and policies related to China than one of Korea examinee.

keywords
Comparison of Korean and Chinese Economics and Business Literacy, University Students’ Economics, Business Literacy

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East Asian Journal of Business Economics