KOLEJ PROFESIONAL MARA

DIPLOMA IN BUSINESS STUDIES

COURSE NAME : MACROECONOMICS

COURSE CODE : ECO 2023
ACADEMIC SESSION : 1 2023/2024
TYPE OF ASSESSMENT : WRITTEN ASSIGNMENT
DATE OUT : WEEK 7 (30/5/2023)
DATE IN : WEEK 9 (16/6/2023)
DURATION : 3 WEEKS

CLO 2: Apply appropriate suggestions on theories and concepts to the current issues in
macroeconomic. (C3, PLO2)

INSTRUCTION TO CANDIDATES:

1. This written assignment contributes 10% to your continuous assessment.

2. This is group work. You are required to form a group, consisting of four (4) members.

3. Include graphs and relevant data in your written assignment. Acknowledge your
sources.

4. Consult your respective lecturer on the topic given. Week 7 is allocated as your
consultation week.

5. Avoid plagiarism.

6. Submit the hardcopy of this written assignment with a cover page and a list of references
on 16 /6/2023 (Week 9) before 1.00 pm.

7. Font: Tahoma 11
Spacing: 1.5
Footer: page number (center, Tahoma 10)

8. Each group needs to answer all questions as below:

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 MALAYSIA STANDARD CLASSIFICATION OF OCCUPATIONS (MASCO)

In 2020, The Ministry of Human Resources was given a responsibility to develop the Malaysia
Standard Classification of Occupations (MASCO). MASCO is a national benchmark for the classification
of occupations in the employment structure of the country. MASCO has been developed in accordance
with International Standard Classification of Occupations (ISCO) with changes and modifications to
meet the needs of the country.

The publication of MASCO 2020 carried new challenges to the Ministry as the Malaysian
economy and employment structure has changed significantly when the country undergoes Industrial
Revolution 4.0 (IR 4.0) and future jobs. MASCO lists down the descriptions and tasks as well as the
code for each position listed. It contains ten categories of major groups, namely:

Major Group 1: Managers

Major Group 2: Professionals
Major Group 3: Technicians and Associate Professionals
Major Group 4: Clerical Support Workers
Major Group 5: Service and Sales Workers
Major Group 6: Skilled Agricultural, Forestry, Livestock and Fishery Workers
Major Group 7: Craft and Related Trades Workers
Major Group 8: Plant and Machine Operators and Assemblers
Major Group 9: Elementary Occupations
Major Group 0: Armed Forces

Source: MASCO 2020, Ministry of Human Resoiurces.

https://www.mohr.gov.my/pdf/masco/MASCO_2020_BI_Edaran.pdf

Scenario

Today’s world and time are fast moving. In this fast pace, the various changes in the
employment landscape brings with it both opportunities and challenges to Malaysia’s industrial
sectors that has shown a transition from labour-intensive jobs to jobs that require
technological skills. The Industrial Revolution 4.0 (IR 4.0), future jobs and green jobs are
among the agents of transformations in the employment system. These transformations

CONFIDENTIAL 1/2023&2024/ASSIGNMENT/ECO2023
encompass the discovery of various new technologies such as automation, Internet of Things
(IoT), analytics and big data, simulations, and robotic applications that drive the development
of the modern world economy. The impact of this transformation sparks changes in the way
we work, choices of fields of specialisation, as well as methods to handle various industry
related tasks and skills.

The statement and infographic in the above figure are cited from a publication made
by Ministry of Human Resources in classifying the occupations in the employment structure of
the economy. Since the world has been hit by Covid-19 pandemic, nearly half of the global
workforce was at risk of losing livelihoods due to unemployment problem. In fact, the
pandemic accelerated existing trends in remote work, e-commerce, and automation, with up
to 25 percent more workers than previously estimated potentially needing to switch
occupations.

Question 1

MASCO is developed as references for students in developing their career pathway.

(i) As a student, how big do you think this standard could help you to determine your
career in future especially after the Covid-19 pandemic?

(ii) Would you upgrade your skills and competencies according to the current demand in
the job market?
(10 marks)

Question 2

The COVID-19 pandemic has proven that digitalisation and automation is a necessity to
ensure business sustainability, parallel with the needs of Industrial Revolution 4.0 (IR 4.0) in
the employment system. Discuss five (5) socioeconomic impacts of pandemic COVID-19 and
IR 4.0 on the labour force in Malaysia.
(10 marks)

Question 3

By conducting research, demonstrate the phases of business cycle in the economy according
to the crisis that has happened in Malaysia. Explain your answer by choosing one (1) of the
crises below as example:

(i) Asian Financial Crisis 1997 or;

(ii) Global Financial Crisis 2008 or;
(iii) Covid-19 Pandemic.

(10 marks)

“END OF QUESTIONS”

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