Economics Student Learning Outcomes

Econ 2: Principles of Macroeconomics:

  1. Using employment and national income statistics students will be able to describe and analyze the economy in quantitative terms.
  2. Students will be able to describe the contemporary banking and monetary system, and analyze the role of money, credit, and Federal Reserve monetary policy.
  3. Outline the role of comparative advantage in exchange.  Describe the role of international trade and finance in domestic economic activity.
  4. Students will be able to utilize a simple contemporary economic model such as the aggregate supply/aggregate demand model and describe the interrelationships among prices, income and interest rates as they affect consumption, saving and investment.
  5. Analyze fiscal and monetary policy decisions to counter business cycle swings by using macro-economic models.

 

Econ 4: Principles of Microeconomics:

  1. Define and apply the concept of elasticity.
  2. Define scarcity, and sho how it relates to the concepts of choice and cost.
  3. Outline the role of comparative advantage in exchange.
  4. Identify the key elements of the demand and supply model and use the model to critically analyze real world examples.

Econ 11: International Political Economy:

1. Identify various countries' political  systems and analyze the relationship to the accompanying economic systems.
2. Compare and contrast different countries' political economies.
3. Identify international organizations and understand their role in the global economy and on local economies.
4. Distinguish between political and economic decisions.
5. Utilize game theory to analyze political economic problems.
6. Explain and compare purchasing power parity.
7. Evaluate the effects of tariffs and quotas on trade.
8. Define and enploy the concept of Comparative Advantage.
9. Solve problems within international trade.

Econ 20: The American Economy:

1. Recognize the economic problem of scarcity and discuss how it relates to the concepts of choice and cost.
2. Utilize the demand and supply model and apply the model to critically analyze real world examples.  Use microeconomic models to evaluate how prices are determined in various market structures, such as perfect competition, monopoly, and imperfect competition.
3. Describe and analyze the economy uyhsing national income and employment data.