Course Learning Objectives - Undergraduate

• ECON 001A - Principles of Economics: Macroeconomics

  • Master macroeconomic theory related to three broad areas:

    1. Comparative Advantage
    2. Macroeconomic Measures
    3. Macroeconomic Models.

     

    Specific Learning Objectives include:

    1. Comparative Advantage (specialization and the gains from trade; globalization)
    2. Macroeconomic Measures (real versus nominal calculations; components and concept of GDP; components and concept of unemployment figures; calculation of inflation)
    3. Macroeconomic Models (circular flow; monetary and fiscal policy; the market for loanable funds & interest rate determination; the demand and supply of money & price level determination)

     

    PLO 2

• ECON 002A - Principles of Macroeconomics Online Lab

  • Master macroeconomic theory related to three broad areas:

    1. Comparative Advantage
    2. Macroeconomic Measures
    3. Macroeconomic Models.

     

    Specific Learning Objectives include:

    1. Comparative Advantage (specialization and the gains from trade; globalization)
    2. Macroeconomic Measures (real versus nominal calculations; components and concept of GDP; components and concept of unemployment figures; calculation of inflation)
    3. Macroeconomic Models (circular flow; monetary and fiscal policy; the market for loanable funds & interest rate determination; the demand and supply of money & price level determination)

     

    PLO 2

• ECON 001B - Principles of Economics: Microeconomics

  • Master microeconomic theory related to three broad areas:

    1. Incentives
    2. Opportunity Cost
    3. Supply and Demand.

     

    Specific learning objectives include:

    1. Incentives Matter (law of demand; law of supply; rational decision makers weight marginal costs versus marginal benefits; the power of self-interest)
    2. Opportunity Costs (sunk costs; production possibilities; the free-lunch fallacy; tradeoffs in consumption and production; gains from interpersonal & international trade; comparative advantage)
    3. Supply and Demand (understanding the S&D model as a representation of individual choices in exchange based on individual preferences, knowledge and circumstances; ability to examine current events using S&D tools; movement versus shift; welfare analysis)

     

    PLO 1

• ECON 002B - Principles of Microeconomics Online Lab

  • Master microeconomic theory related to three broad areas:

    1. Incentives
    2. Opportunity Cost
    3. Supply and Demand.

     

    Specific learning objectives include:

    1. Incentives Matter (law of demand; law of supply; rational decision makers weight marginal costs versus marginal benefits; the power of self-interest)
    2. Opportunity Costs (sunk costs; production possibilities; the free-lunch fallacy; tradeoffs in consumption and production; gains from interpersonal & international trade; comparative advantage)
    3. Supply and Demand (understanding the S&D model as a representation of individual choices in exchange based on individual preferences, knowledge and circumstances; ability to examine current events using S&D tools; movement versus shift; welfare analysis)

     

    PLO 1

• ECON 003 - Economic Statistics
  • 1. Distinguish between different types of data
    2. Learn how to graph data
    3. Understand basic probability rules and random variables
    4. Understand basic discrete and continuous distributions
    5. Understand distinction between population parameters and descriptive statistics
    6. Understand binomial and normal distributions
    7. Learn how to apply sampling distributions
    8. Understand classical statistical inference regarding confidence intervals and hypothesis testing.

     

    PLO 3

• ECON 100W - Writing Workshop: Economic Reports
  • 1. Understand and apply critical thinking techniques and analysis to economic problems
    2. Analyze problems from an economic discipline, upholding high intellectual standards
    3. Plan, organize, execute, and control a writing assignment
    4. Write concisely, using words efficiently and economically to convey ideas
    5. Write and edit for specific audiences, especially those found in business.

     

    PLO 5

• ECON 101 - Microeconomic Analysis
  • 1. Mastery of economic tools that are the foundation for economic analysis in all other courses. The tools do not change – memorize them.
    2. Ability to apply the tools de novo to a myriad of situations (e.g., social, political, international, business, family and environmental to name a few) to gain understanding of systemic changes. The applications always change – think about application techniques but do not memorize application answers;
    3. Systematic problem-solving skills. Microeconomics is inherently a problem-solving discipline. This course makes explicit the connection between microeconomic theory and step-by-step problem-solving skills developed by the instructor. Memorize and practice these problem-solving skills.

     

    PLO 1

• ECON 102 - Macroeconomic Analysis
  • 1. Understand the relationship between economics and public policy, as illuminated by public-choice theory.
    2. Identify the macroeconomic aggregates that measure the price level, employment, and output and explain both their strengths and weaknesses.
    3. Display a good grasp of what we know and what we do not know about economic growth.
    4. Display a good grasp of what we know and what we do not know about sustained inflation.
    5. Display a good grasp of what we know and what we do not know about the business cycle.

     

    PLO 2

• ECON 103 - Introduction to Econometrics
  • 1. Understand necessary assumptions of the linear regression model
    2. Understand basic hypothesis tests of the linear regression model
    3. Understand basic problems encountered using linear regression model
    4. Understand alternative linear regression models
    5. Learn how to estimate regression models using a regression statistical package
    6. Learn how to write empirical reports.

     

    PLO 3

• ECON 104 - Mathematical Methods for Economics
  • 1. Use the language of mathematics to examine microeconomic and macroeconomic theory
    2. To be competent with the following mathematical tools: sets and functions; continuity, derivatives and optimization of functions of one variable; matrices, determinants and inverse matrices
    3. Partial derivatives, unconstrained and constrained optimization of functions of several variables; mathematical tools used in game theory such as Bayes rule.
       

    
    PLO 3

• ECON 106 - Managerial Economics
  • 1. Define and use economic terminology
    2. Learn how managers/firms solve their respective optimization problems
    3. Learn various microeconomic models of market structure;
    4. Analyze microeconomic models to learn how markets function
    5. Apply microeconomic theory and management practice to business decisions in a firm
    6. Learn to estimate and forecast demand using econometric methods.

     

    PLO 4

• ECON 107 - Introduction to Environmental Economics and Policy
  • 1. Analysis of basic economic and political factors related to the environmental crisis. Surveys policy approaches to the problem: regulation, taxes, subsidies, cost benefit analysis.

     

    PLO 4

• ECON 108 - Cost-Benefit Analysis
  • 1. Understand the justification for and the process of doing CBA
    2. Use the tools of CBA (e.g. welfare economic analysis, present value calculations)
    3. Find and comprehend CBA reports; 4) search scholarly literature, locate defensible estimates such as elasticities and discount rates
    4. Produce valuation estimates using various methods.

     

    PLO 3

• ECON 109 - Analysis of Economic Issues for Teachers

  • PLO 1

• ECON 112 - Economic Development
  • 1. List several economic development indicators (like GDP, GINI coefficient, etc.), describe trends in one or more developing economies, and evaluate their pros and cons in terms of measuring the human condition.
    2. List, describe (graphically, mathematically, and verbally) and critique several growth models, including the Solow Growth Model, and the evolution of their development within the economic discipline.
    3. Articulate and evaluate those factors that contribute to or inhibit economic growth (population, culture, capital, technology, human capital, and institutions);
    4. Analyze and assess the behavior of governments and the impact of policy viz-a-viz development using economic models;
    5. Determine and anticipate the impact of incentives on development.

     

    PLO 4

• ECON 113A - Economic History of the U.S.
  • 1. Identify the general features and possible causes of the Agricultural and Industrial Revolutions and explain how those two transformations relate to the economic development of the United States;
    2. Be familiar with the contours and pattern of North American economic history, from before European contact until the mid-twentieth century;
    3. Appreciate how economic theory enriches our understanding of historical particulars, with emphasis on the impacts of war, chattel slavery, migration, and trade, both regional and international.

     

    PLO 4

• ECON 113B - Economic History of Europe
  • 1. Understand the general features and possible causes of the agricultural, commercial, and industrial development of Europe from antiquity to 1914;
    2. Appreciate how economic theory enriches our understanding of historical events, with particular emphasis on the origin and development of markets, money, and economic integration, the rise of the nation-state and the evolution of government policies, and the great transformation wrought by the Industrial Revolution.

     

    PLO 4

• ECON 121 - Industrial Organization
  • 1. To develop an understanding of the evolution of antitrust laws and the regulatory state;
    2. To understand models of static and dynamic competition;
    3. To master models of oligopoly and game theory that are used in industrial organization;
    4. To understand public choice models of the behavior of regulators; 5) To analyze antitrust laws and other regulations using an economic framework; 6) To relate concepts of spatial organization from urban economics to the field of industrial organization

     

    PLO 4

• ECON 132 - Public Finance
  • 1. Learn the theory and practice of public finance;
    2. Develop analytical skills and understanding from earlier economics courses by studying public finance topics;
    3. Develop analytical and research experience and scholarly writing and presentation skills.

     

    PLO 4

• ECON 133 - Public Choice

  • Economic analysis applied to non-market decision making. Topics may include: voting, special interests, rent-seeking, legislative decision-making, bureaucracy, collective action problems, judicial decision-making, political business cycles, and comparative political institutions.

    Prerequisite: ECON 001B

• ECON 135 - Money and Banking
  • 1. Explain money's vital function and how it interacts with banking and the financial system;
    2. Explain how the interaction of the demand and stock of money determine the price level;
    3. Explain seigniorage and the role it has played in the history and evolution of government involvement in the monetary and financial system;
    4. Explain the complicated relationships between money, interest rates, and fiscal policy;
    5. Have some familiarity with the various factors that play a role in financial crises.

     

    PLO 4

• ECON 136 - International Economics
  • 1. Explain the pattern of trade;
    2. Understand conflicts and cooperation in international trade;
    3. Examine the social welfare impacts of trade policies;
    4. Have awareness of trade issues (e.g., “currency manipulation”)

     

    PLO 4

• ECON 137A - Fundamentals of Corporate Finance
  • 1. Describe and summarize the NPV value criterion for firm investment;
    2. Apply NPV, and other financial decision-making analysis such as IRR, Profitability Index, and Pay-Back Period to firm investment;
    3. Identify and interpret securities valuation to include fundamental analysis of a company and technical analysis of the underlying security;
    4. Describe and be able to contrast the various forms of the efficient market hypothesis and demonstrate how they exemplify information efficiency;
    5. Define and discuss the structuring of optimal portfolio strategies in relation to firm portfolio of goods and services.

     

    PLO 4

• ECON 137B - Topics in Corporate Finance
  • 1. Describe and summarize the NPV value criterion for firm investment;
    2. Apply NPV, and other financial decision-making analysis such as IRR, Profitability Index, and Pay-Back Period to firm investment;
    3. Identify and interpret securities valuation to include fundamental analysis of a company and technical analysis of the underlying security;
    4. Describe and be able to contrast the various forms of the efficient market hypothesis and demonstrate how they exemplify information efficiency;
    5. Define and discuss the structuring of optimal portfolio strategies in relation to firm portfolio of goods and services.

     

    PLO 4

• ECON 138 - Business and Economic Forecasting
  • 1. Learn and produce forecasts of economic models;
    2. Understand how to evaluate a forecast;
    3. Learn simple time-series methods;
    4. Learn ARIMA models;
    5. Understand how to produce forecast using a statistical package.

     

    PLO 3

• ECON 139 - Principles of Investments
  • 1. Fundamental market movements;
    2. Initial Public Offering, how they work and who does what;
    3. Corporate Governance and key roles of: Management, The board of directors, The independent registered certified public accountants, The Securities and Exchange Commission (SEC), The Financial Accounting Standards Board;
    4. Basic 1933/34 SEC Act reporting including: S-1, S-3, Form 10Q, Form 10k, Form 8K, Form 4 and Form 5 reporting, Proxy reporting, The recently signed Dodd-Frank Bill;
    5. Time Value of money and how it applies to investments and life;
    6. The cash-flow statement, income statements and balance sheet;
    7. Fundamental vs Technical analysis;
    8. Rates of return and understanding stock market indices;
    9. Risk, return and the capital asset pricing model.
       

     

    PLO 4

• ECON 141 - Law and Economics
  • 1. To be able to display, by means of class room discussion and exam questions, good grasps of the Pareto and Kaldor-Hicks approaches to efficiency;
    2. The Coase theorem;
    3. Positive & negative externalities;
    4. Market failure;
    5. Government failure;
    6. Crimes versus torts

     

    PLO 4

• ECON 151 - Labor Economics
  • 1. Develop the economic way of thinking as it applies to wage determination;
    2. Apply core economic theory and reasoning to topics of practical interest regarding the behavior of governments, firms, households and other institutional and social groups;
    3. Use the economic tools of marginal benefit, marginal cost analysis to explain how employers and employees behave under different institutional conditions;
    4. Use the framework economics to explain and evaluate the short run and long run impact of labor market regulations such as minimum wage laws, unions and occupational licensing;
    5. Establish a framework for evaluating the presence, extent, and effects of minority discrimination at the industry and firm level.
• ECON 155 - Principles of Austrian Economics

  • Examines the discipline of Austrian economics and differentiates from other economic disciplines. Uses the Austrian approach to analyze and understand the consequences of various policy prescriptions.

    Prerequisite: Econ 001A and Econ 001B

• ECON 158 - Economics of Entrepreneurship
  • 1. Students will understand the ways in which various public policies affect entrepreneurship;
    2. How to apply economic reasoning as it relates to various aspects of entrepreneurship.

     

    PLO 4

• ECON 160 - Public Regulation of Business
  • 1. To develop an understanding of the evolution of the regulatory state;
    2. To understand models of static and dynamic competition;
    3. To understand public choice models of the behavior of regulators;
    4. To analyze regulations using an economic framework;
    5. To relate concepts from cost benefit analysis to the regulatory economics

     

    PLO 4

• ECON 165 - Regional Economics
  • 1. Develop an understanding of the structure of a region in terms of its trade pattern using a variety of metrics, like the Location Quotient;
    2. Develop an understanding of the interdependence of municipalities in a metropolitan area in terms of fiscal stability, traffic congestion, and jobs-housing balance;
    3. Develop a capacity to acquire and use publicly available data, such as data from the American Community Survey;
    4. Develop a capacity to use statistical and geographic tools (such as GIS software) to undertake spatial analysis on a regional basis.

     

    PLO 4

• ECON 166 - Urban Economics
  • 1. Develop an understanding of location theory as applied to households and firms;
    2. Develop an understanding of the structure of urban areas, urban form, and how prices of land and housing are determined in an urban area;
    3. Develop and understanding of the role of scale economies in urban analysis;
    4. Develop an understand of the role of externalities in urban analysis;
    5. Develop an understanding of the spatial aspects of competition;
    6. Develop an understanding of fiscal issues of cities.

     

    PLO 4

• ECON 190 - History of Economic Thought
  • 1. Understand the evolution of economic thought and, specifically, changing perspectives on the role of markets and the state in the economy;
    2. How and why those views have changed over time.

     

    PLO 4

• ECON 193 - New Institutional Economics

  • Introduces recent approaches to the study of institutions in economics and other social sciences. Examines how formal and informal institutions, including laws, contracts, norms and conventions, affect economic and political outcomes from a global perspective.

    Prerequisite: ECON 001B

    Notes: Offered summer and winter sessions and occasionally during the academic year.

• ECON 195 - Computational Methods for Economics

  • Covers the use of software which has the greatest applicability in economics and related social sciences; i.e., spreadsheets, databases, and programs for statistical analysis of data and numerical computation. Examples of software programs that may be covered include Excel, Gretl, Matlab/Octave, Netlogo, R, and STATA.

    Prerequisite: ECON 1A, ECON 1B and a semester of statistics.

    PLO 4