Economics Learning Outcomes

Outcome 1: Working Knowledge—Graduates should have a working knowledge both of the basic principles and of the core theory of economics and should be familiar with the methodology and tools of economic analysis.

1.1 Working knowledge of the basic principles of microeconomics.

1.2 Working knowledge of the basic principles of macroeconomics.

1.3 Working knowledge of the basic principles of International Economics.

1.4 Work with statistical indicators Work with statistical indicators (e.g. price indices, unemployment rates, GDP).

Outcome 2: Economic Activity—Graduates should understand the role of economic activity in the human experience and in the functioning of societies.

2.1 Understand the application of microeconomic theory to individuals and firms/agencies.

2.2 Understand the application of macroeconomic theory to governments.

2.3 Understand the application of international economic theory to international issues.

Outcome 3: Basic Understanding—Graduates should have a basic understanding of government and of how government policies affect economic activity and income distribution, whether these policies are explicitly economic or not.

3.1 Understand the role & impact of government spending, taxation, and regulatory policies on economic activity and income distribution.

Outcome 4: Analytical Ability—Graduates should possess analytical ability that can be brought to bear on practical economic problems faced by various actors in a market economy, such as households, firms, governments, and non-profit organizations.

4.1 Apply economic theory to practical economic problems encountered by individuals and households.

4.2 Apply economic theory to practical economic problems encountered by firms.

4.3 Apply economic theory to practical economic problems encountered by governments.

Outcome 5: Economic Research— Graduates should have a basic understanding of how to conduct and present economic research.

5.1 Possess a basic understanding of statistical technique.

5.2 Possess a basic understanding of how to conduct and present economic research.

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