Course-Specific Learning Goals

Econ 101  Introduction to Economics-Micro

      Students should be able to explain important microeconomic concepts like opportunity cost, production possibilities, efficiency and equity and the supply-demand model.  Students should be able to explain how markets usually lead to efficient outcomes, and circumstances when they may not.  Students should be able to explain the impact of government intervention in markets, including taxes, subsidies and price controls.

Econ 102  Introduction to Economics-Macro

     Students should be able to define and interpret major economic aggregates (like GDP, unemployment, inflation and interest rates), and to explain what makes them change over time.  Students should develop a basic knowledge of the relationship among economic aggregates.  Students should be able to explain monetary and fiscal policies and the role of the financial system in contributing to short-run stability and long-run growth. 

Econ 231 Statistical Methods

     Students will master the application of modern statistical methods including descriptive statistics, elementary probability theory, and inferential statistics with emphasis on hypothesis testing.  Emphasis is placed on not only parameters but their statistical significance as well.  Students will be prepared to think analytically and quantitiatively on various real world problems and come to a mathematical solution.

Econ 322  Introduction to Economics

     Students will master techniques associated with linear regression models including assumptions underlying Ordinary Least Squares, the estimation and testing of models, and the violations and corrections for asumption violations.  Students will be able to develop models on their own for evaluating economic and business problems as well as models in other areas requiring statistical model evaluations.  These techniques can be used in advanced courses or to evaluate advance empirical projects.

Econ 323  Intermediate Microeconomic Theory

      Students should develop a deeper understanding of microeconomic principles.  Speciifically, they should be able to explain consumer and firm behavior and show how prices act to coordinate preferences and objectives.  They should be able to explain the theory of consumer choice and how changes in relative prices and income affect optimal choices.  They should also be able to explain the behavior of firms in different markets, from those with many firms to those with only one. Finally, students should be able to discuss measures of societal welfare and analyze the impact of taxes, subsidies and monopoly on society's welfare using these measures.

Econ 324  Intermediate Macroeconomic Theory

      Students should develop a deeper understanding of macroeconomics principles.  Specifically, they should be able to explain and use alternative models of the determination of the level and fluctuations of economic aggregates in the short run as well as living standards and growth rates in the long run.  Students should also be able to explain the relationship among selected economic aggregates and the likely impacts of monetary and fiscal policies on these aggegates in both the short run and long run. 

Econ 406  Seminar in Economics

     For their capstone experience in the major, students should be able to use their prior knowledge of economic theory and statistical analysis to carry out a research project in which they develop a research topic, gather the relevant data, estimate and test a model, and write up their research methodology and findings.