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Learning Goals and Outcomes

Student Learning Outcomes (SLOs) for the Economics Core Courses

The Economics Department offers two core classes – Introductory Macroeconomics and Introductory Microeconomics. Along with acquiring content knowledge, students in each course will practice critical thinking skills, communication skills, quantitative reasoning, and economic citizenry. 

ECON 105: Introductory Macroeconomics

  1. Students will be able to explain the concepts of opportunity cost, trade-offs, and the benefits of exchange.
  2. Students will be able to demonstrate knowledge of the laws of supply and demand and equilibrium; and apply the supply and demand model to analyze responses of markets to external events.
  3. Students will be able to explain the concepts of gross domestic product, inflation and unemployment, and how they are measured.
  4. Students will be able to explain the circular flow model and use the concepts of aggregate demand and aggregate supply to analyze the response of the economy to disturbances.
  5. Students will be able to describe the determinants of the demand for money, the supply of money and interest rates and the role of financial institutions in the economy.
  6. Students will be able to define fiscal and monetary policies and how these affect the economy.
  7. Students will be able to identify the causes of prosperity, growth, and economic change over time and explain the mechanisms through which these causes operate in the economy.

ECON 106: Introductory Microeconomics

  1. Students will be able to explain the concepts of opportunity cost, trade-offs, and the benefits of exchange.
  2. Students will be able to demonstrate knowledge of the laws of supply and demand and equilibrium; and apply the supply and demand model to analyze responses of markets to external events.
  3. By the end of the course, students will be able to apply supply and demand analysis to examine the impact of government regulation.
  4. By the end of the course, students will be able to explain and calculate price elasticity of demand and other elasticities.
  5. By the end of the course, students will be able to demonstrate an understanding of producer choice, including cost and break-even analysis.
  6. By the end of the course, students will be able to compare and contrast common market structures, including perfect competition and monopoly.
  7. By the end of the course, students will be able to apply microeconomic principles and models to define and address market failures; and to describe issues such as wage inequality, environmental protection or other policy matters.

 Student Learning Goals and Outcomes for the BA in Economics 

The BA in Economics includes a set of three core classes (Intermediate Microeconomic Theory, Intermediate Macroeconomic Theory, and Introductory Statistics and Econometrics.) beyond the introductory courses. These courses provide the foundational skills that our majors require in terms of the theoretical and empirical aspects of the discipline.

Outside of these core courses, students must also complete eighteen hours of upper level electives (fifteen credit hours of 300-level electives and at least one 400-level elective course). Electives are varied and offered on a rotating basis. See the “Information of Undergraduates” link to see the recommended sequence of courses depending on your specific interests!

 A. Theory

A.1. Students will be able to explain, graph, and analyze key economics models.

B. Institutional Context

B.1. Students will be able to analyze the economics and institutional arrangements of specific regions, countries, organizations, localities, industries or firms.

C. Data Analysis

C.1. Students will be able to generate and interpret summary statistics and regression models.
C.2. Students will be able to identify data sources, describe appropriate empirical tools, and perform research on data they retrieve from original surveys, or official and industry sources.

D. Critical Thinking 

D.1. Students will be able to evaluate economic issues and public policy by using economic models or data analysis while identifying underlying assumptions of the model(s) and limitations

E. Communication

E.1. Students will be able to effectively communicate economic ideas.

F. Economic Citizenship

F.1. Students will be able to formulate informed opinions on policy issues and recognize the validity of opposing viewpoints.

Check out the links below to learn more about how our department is working to continuously improve learning. If you have any questions about assessment please contact Cristina Reiser at creiser@unm.edu

Economics BA Assessment Plan (updated 2017)

Undergraduate Outcomes Assessment Annual Report 2015 - 2016