Abstract
The research group of Economic Education in the Institute of Asia-Pacific Studies at Waseda University translated the Test of Understanding of College Economics (TUCE, Fourth Edition; TUCE-4) into Japanese, and administered the test in Japan to determine the present status and problems of economics literacy among Japanese college students. TUCE was originally developed by Professor William Walstad (University of Nebraska), Professor Michael Watts (Purdue University), and Associate Professor Ken Rebeck (Saint Clouds University). In New Zealand it was also administered by Dr. Steven Lim at the University of Waikata to his college students taking macroeconomics and microeconomics as post-test. The original test contains 30 questions in a multiple-choice format, but Dr Lim deleted 5 questions from macroeconomics and 2 questions from microeconomics as unsuitable for his students. In New Zealand 63 students took macroeconomics test and 71 students microeconomics test. The Japanese research group administered the TUCE-4 to 448 Japanese college students (6 universities) as field-test in the 2006 spring semester. From the test results, both Japanese students and New Zealand students appear to have an incomplete knowledge of the economic terms, concepts and principles found in college economic courses, and the questions on the micro and the macro TUCE-4 seemed quite difficult for them. To improve their economics literacy, economics education at the high school level, as well as at the university/college level, should be scrutinized carefully and strengthened.
