Economics (BA/BSBA)

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

1. Students should understand macroeconomic theory.

  • 1.1 Students will describe the relationship between money, interest rates, output and prices.
  • 1.2 Students will identify inflation and its causes.
  • 1.3 Students will identify the basic sources of growth in productivity and living standards.
  • 1.4 Students will identify the causes of business cycles, unemployment and inflation.
  • 1.5 Students will identify the economic linkages between countries and the impact of these linkages on national economic performance.
  • 1.6 Students will identify the major measures of national economic performance: national income accounting, price indexes, unemployment.
  • 1.7 Students will describe the fole of the Fed and the commercial banking industry in determining the supply of money and credit in the economy.
  • 1.8 Students will describe monetary and fiscal policy and the problems which occur in their use.

2. Students should understand microeconomic theory.

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

3. Students should be able to conduct original research and effectively report on the research both in writing and orally.

  • 3.1 Students will formulate an original research question.
  • 3.2 Students will choose an appropriate method to address the research question.
  • 3.3 Students will interpret the results of the method as they pertain to the research question.
  • 3.4 Students will effectively describe the research question, methods and results in writing.
  • 3.5 Students will effectively describe the research question, methods and results orally.