Economics Course Outcomes

ECON 1000: Introduction to Economics

This course for non-Business majors provides students with basic general knowledge of economics and the ability to apply key economic principles to everyday events. We cover basic concepts from both microeconomics and macroeconomics views of the economy. We discuss an overview of economic systems as they relate to individuals and governments choices, as well as supply and demand, producer choice, and market structures. We analyze the wider economy by briefly looking at concepts such as gross domestic product, unemployment, inflation, economic growth, and the impact of government policies on the overall economy.

Student Learning Outcomes

Students successfully completing any section of ECON 1000 will be able to:

1. Define economics and differentiate between Microeconomics and Macroeconomics;
2. Explain how economies organize using the basic concepts of economic systems;
3. Apply the laws of supply and demand and market equilibrium;
4. Analyze producer choice and distinguish market structures  encountered by firms;
5. Explain the concepts of gross domestic product, unemployment, inflation and economic growth;
6. Define fiscal and monetary policies and indicate how these policies affect the overall economy; and
7. Identify the causes of prosperity, growth, and economic changes over time.

ECON 2030: Principles of Microeconomics

This course studies microeconomics principles with emphasis on comparative advantage, market system, consumer theory, resource allocation, and industrial organization.

Student Learning Outcomes

Students successfully completing any section of ECON 2030 will be able to:

1. Describe comparative advantage and the functioning of the market system;
2. Apply the concept of marginal analysis to consumer and producer theories;
3. Critique the structure of various types of industry for the purpose of choosing the level of production that maximizes profit and analyze the effects on market efficiency; and
4. Communicate effectively orally or in writing to demonstrate and analyze complex microeconomic theories and policies in the context of contemporary economic events.

ECON 2040: Principles of Macroeconomics

This course studies macroeconomic principles with emphasis on the market system, national economy, international trade and fiscal and monetary policy.

Student Learning Outcomes

Students successfully completing any section of ECON 2040 will be able to:

1. Describe comparative advantage and the functioning of the market system and international trade;
2. Measure and interpret macroeconomic indicators, such as GDP, inflation rates, and unemployment rates;
3. Explain the determinants of business cycles and long-run economic growth;
4. Analyze the effects of fiscal and monetary policies on the economy; and
5. Communicate effectively orally and in writing to demonstrate and analyze complex macroeconomic theories and policies in the context of contemporary economic events.