Economics (BA) - Regional Economic Development

Shown here are the general learning goals of the program broken down into specific student learning outcomes (SLOs). These SLOs represent what a student should be able to do as a result of successfully completing this program. Student performance on these outcomes are routinely assessed by program faculty as a way of informing programmatic improvement efforts.

Goal Outcome

Students should understand macroeconomic theory.

  • Students will identify inflation and its causes.
  • Students will identify the basic sources of growth in productivity and living standards.
  • Students will identify the causes of business cycles, unemployment and inflation.
  • Students will identify the economic linkages between countries and the impact of these linkages on national economic performance.
  • Students will identify the major measures of national economic performance: national income accounting, price indexes, unemployment.

Students should understand microeconomic theory.

  • Students will identify how the concepts of comparative advantage and specialization lead to gains from trade.
  • Students will identify price elasticity of supply and demand and the relation between the price elasticity of demand and total revenue.
  • Students will identify the behavior of the firm as it relates to production, price, cost and profit.
  • Students will identify the concepts of scarcity and opportunity cost as they relate to the fundamental economic program.
  • Students will identify the determinants of supply and demand and use the supply and demand model to determine changes in prices and output.
  • Students will identify the welfare effects of alternative market structures.
  • Students will identify the welfare effects of various market failures.