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Learning Goals and Outcomes

 

 

LEARNING GOALS

STUDENT LEARNING OUTCOMES

K N O W L E D G E

A. THEORY: Mastery of basic economic theory

A1. Students explain, graph and manipulate key economics models including any of the following:  supply and demand, theory of the firm, comparative advantage, game theory, externalities, public goods, consumer theory, compensating wage differentials.

B.  INSTITUTIONAL CONTEXT:  Familiarity with institutions that shape economic behavior

B1. Students produce written or oral reports that consider the economics and institutional arrangements of specific regions, countries, organizations, localities, industries or firms.

S K I L L S

C. DATA ANALYSIS: Familiarity with data methods, tools and sources

C1. Students generate and interpret summary statistics and regression models.

C2. Students perform primary research on data they retrieve from original surveys, or official and industry sources.

C3. Students manage data in Spreadsheets and Statistical software packages.

D. CRITICAL THINKING:  Ability to apply, evaluate and critique economic models

D1. Students evaluate public policy and other economic issues using economic models and data analysis and identifying underlying assumptions of the models and limitations of the data.

D2. Students distinguish between positive and normative claims.

E. COMMUNICATION

E1. Students effectively communicate economic ideas in writing and in oral presentations.

RESPONSIBILITY

F. ECONOMIC CITIZENSHIP

F1. Students formulate informed opinions on policy issues and recognize the validity of opposing viewpoints.

General Education Core Curriculum Classes -Learning Objectives, Goals and Competencies

Economics 105: Introductory Macroeconomics

Student Learning Outcome

UNM/HED Area IV Core Competency

Explain the chain of events that occur when equilibrium is disturbed, with particular emphasis on the allocative and rationing roles of price. Apply that model to predict the economic impact of real-world events.

(1) Identify, describe and explain human behaviors and how they are influenced by social structures, institutions, and processes within the contexts of complex and diverse communities.

Describe the policy implications, risks and consequences that must be weighed in the formulation of economic policy. Identify differential effects of policy in the short and long run.

(4) Apply the knowledge base of the social and behavioral sciences to identify, describe, explain and critically evaluate relevant issues, ethical dilemmas, and arguments.

Identify the causes of prosperity, growth, and economic change over time and explain the mechanisms through which these causes operate in the economy.

(4) Apply the knowledge base of the social and behavioral sciences to identify, describe, explain and critically evaluate relevant issues, ethical dilemmas, and arguments.

Describe how macroeconomic policy choices affect the distribution of income, employment, consumption and other measures of well-being.

(2) Articulate how beliefs, assumptions and values are influenced by factors such as politics, geography, economics, culture, biology, history and social institutions.

Economics 106: Introductory Microeconomics

Student Learning Outcome

Core Competency

Describe how voluntary market interactions and trade, in the face of scarcity, benefit both parties to a transaction.

(3) Describe ongoing reciprocal interactions among self, society and the environment.

Explain the chain of events that occur when equilibrium is disturbed, with particular emphasis on the allocative and rationing roles of price. Apply that model to predict the economic impact of real-world events.

(1) Identify, describe and explain human behaviors and how they are influenced by social structures, institutions, and processes within the contexts of complex and diverse communities.

Use graphical analysis and/or logic to demonstrate the economic "rule" that marginal decision-making leads to an efficient outcome for profit-maximizing economic agents.

(1) Identify, describe and explain human behaviors and how they are influenced by social structures, institutions, and processes within the contexts of complex and diverse communities.

Use microeconomic models to describe wage inequality, environmental protection and other policy issues.

(2) Articulate how beliefs, assumptions and values are influenced by factors such as politics, geography, economics, culture, biology, history and social institutions.

 State the conditions under which a market will not produce an efficient result, and describe how these "market failures" affect economic outcomes.

(4) Apply the knowledge base of the social and behavioral sciences to identify, describe, explain and critically evaluate relevant issues, ethical dilemmas, and arguments.