Economics Learning Outcomes

Graduates who successfully complete a Economics major  are assessed in three ways during the course of their program: 1) a 2.0 GPA or higher in their major required courses; 2) meeting expectations in their Capstone project; and 3) successful performance on presentations in their Senior Capstone course.

Learning Outcomes

Foundations of Economics

Graduates demonstrate a foundational understanding of microeconomic and macroeconomic principles.

  • Identify and apply fundamental theories in both microeconomics and macroeconomics.
  • Differentiate between consumer and producer choices.
  • Analyze various market structures and their implications.
  • Describe the functions of key macroeconomic institutions.
  • Evaluate the shortcomings of fundamental economic performance measures.
  • Apply economic concepts to interpret articles in the news media.
  • Relevant courses: EC101 Principles of Macroeconomics and EC103 Principles of Microeconomics.

Quantitative Analysis Skills

Graduates develop proficiency in statistical and mathematical tools essential for economic analysis.

  • Understand algebra, elementary statistical theory, pre-calculus, and differential calculus.
  • Apply quantitative tools to theoretical and empirical questions in economics.
  • Utilize statistical methods for economic analysis.
  • Relevant courses: EC391 Introduction to Econometrics and MA130/150.

Advanced Macroeconomic and Microeconomic Analysis

Graduates develop an understanding of macroeconomic and microeconomics concepts to follow higher level standard models.

Advanced Macroeconomic Analysis

Graduates have a deep understanding of macroeconomic concepts and models.

  • Analyze higher-level standard macroeconomic models.
  • Predict the responses of the macroeconomy to external shocks, fiscal, and monetary policies.
  • Identify underlying assumptions in macroeconomic models.
  • Compare and contrast different macroeconomic models.
  • Relevant courses: EC311 Macroeconomic Theory.

Advanced Microeconomic Analysis

Graduates apply advanced microeconomic models to real-world scenarios.

  • Analyze economic behavior using microeconomic models.
  • Evaluate predictions against real-world descriptive statistics.
  • Interpret graphs and tables of quantitative information.
  • Explore causes and effects of economic phenomena.
  • Relevant courses: EC312 Microeconomic Theory.

Economics Electives

Public Economics and Policy

Graduates assess the economic impact of environmental issues.

  • Evaluate the costs and benefits of environmental policies.
  • Analyze market-based approaches to environmental conservation.
  • Understand the economics of natural resource management.
  • Relevant courses: EC351 Environmental Economics.

Graduates understand the role of government in the economy and the rationale for public intervention.

  • Analyze different forms of taxation and their impact on economic behavior and welfare.
  • Evaluate the efficiency and equity implications of public goods provision.
  • Examine theories of public expenditure and budgetary policies.
  • Relevant courses: EC303 Public Economics

Graduates explore health care market structures and policies.

  • Understand the different models of health care delivery and financing.
  • Evaluate the role of private and public health insurance in health care access.
  • Examine the impact of market forces on health care quality, cost, and access.
  • Assess the efficiency and equity implications of health care policies.
  • Understand the role of government interventions in addressing health care market failures.
  • Relevant courses: JS325 Economics of Healthcare

Social Economics and Labor

Graduates understood human capital’s role in labor market.

  • Analyze wage determination and factors influencing wage differentials.
  • Examine different theories of human capital accumulation and their application to wage determination.
  • Examine the role of mobility in labor markets, including the impact of immigration.
  • Evaluate the impact of discrimination, gender wage gaps, and other forms of inequality in labor markets.
  • Examine the role of unions and collective bargaining in shaping labor market conditions.
  • Relevant courses: EC331 Economics of Labor Markets

Graduates examine family, gender, and economic decisions.

  • Understand the role of family structures, such as marriage and parenthood, in economic outcomes.
  • Evaluate the economic implications of family policies, such as childcare subsidies and family leave.
  • Evaluate the effectiveness of policies aimed at reducing gender disparities in the workplace.
  • Relevant courses: EC332 Family and Gender in the Economy

Macroeconomics and Monetary Economics

Graduates analyze economic interactions among countries.

  • Evaluate theories of international trade.
  • Analyze the impact of globalization on economies.
  • Understand international economic institutions.
  • Relevant courses: EC317 International Economics.

Graduates explore economic growth and development theories.

  • Analyze factors influencing economic development in different regions.
  • Evaluate the effectiveness of development policies.
  • Explore issues related to poverty, inequality, and sustainable development.
  • Relevant courses: EC321 Economics of Development and Poverty.

Graduates understand the functions of money and the role of central banks.

  • Analyze the relationship between interest rates, inflation, and monetary policy tools.
  • Explain the mechanisms of money creation and the banking system.
  • Evaluate the role of financial markets and financial intermediaries.
  • Relevant courses: EC335 Money and Banking.

Econometrics and Data Analysis

Graduates develop skills in econometric modeling and data analysis.

  • Apply econometric techniques to economic data.
  • Interpret results from regression analysis.
  • Understand issues of causality and correlation.
  • Relevant courses: EC391 Introduction to Econometrics.

Research and Analytical Skills

Graduates demonstrate the ability to conduct independent economic research.

  • Explore research topics within the field of economics.
  • Formulate research questions and hypotheses.
  • Select appropriate economic approaches and methodologies.
  • Conduct rigorous quantitative analysis using various methodologies.
  • Present research findings in written and oral formats.
  • Relevant courses: EC410 and EC411 Economics Senior Seminar (two-semester sequence).