# Course Learning Objectives

Course | Course Learning Objectives | Program Learning Objective |
---|---|---|

ECON 001APrinciples of Economics: Macroeconomics |
Master macroeconomic theory related to three broad areas: Comparative Advantage, Macroeconomic Measures, and Macroeconomic Models. Specific Learning Objectives include: Comparative Advantage (specialization and the gains from trade; globalization); Macroeconomic Measures (real versus nominal calculations; components and concept of GDP; components and concept of unemployment figures; calculation of inflation); 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) | 2 |

ECON 001BPrinciples of Economics: Microeconomics |
Master microeconomic theory related to three broad areas: Incentives, Opportunity Cost, and Supply and Demand. Specific learning objectives include: Incentives Matter (law of demand; law of supply; rational decision makers weight marginal costs versus marginal benefits; the power of self-interest); Opportunity Costs (sunk costs; production possibilities; the free-lunch fallacy; tradeoffs in consumption and production; gains from interpersonal & international trade; comparative advantage); 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) | 1 |

ECON 002APrinciples of Macroeconomics Online Lab |
(same CLOs as Econ 1A) | 2 |

ECON 002BPrinciples of Microeconomics Online Lab |
(same CLOs as Econ 1B) | 1 |

ECON 003Economic 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; 4) Understand distinction between population parameters and descriptive statistics; 5) Understand binomial and normal distributions; 6) Learn how to apply sampling distributions; 7) Understand classical statistical inference regarding confidence intervals and hypothesis testing. | 3 |

ECON 100WWriting 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. | 5 |

ECON 101Microeconomic 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. | 1 |

ECON 102Macroeconomic 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. | 2 |

ECON 103Introduction 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. | 3 |

ECON 104Mathematical 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. | 3 |

ECON 106Managerial 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. | 4 |

ECON 107Introduction 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. | 4 |

ECON 108Topics in 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; 5) produce valuation estimates using various methods. | 3 |

ECON 109Analysis of Economic Issues for Teachers |
1 | |

ECON 112Economic Development |
1) To develop an understanding of the evolution of growth models; 2) To display a good grasp of those factors that contribute to or inhibit economic growth (population, culture, capital, technology, human capital, and institutions; 3) To understand public choice models of the behavior of governments; 4) To understand the role of incentives in development; 5) To understand the relationship between economics and public policy, as it pertains to economic growth. | 4 |

ECON 113AEconomic History of the U.S. and Canada |
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. | 4 |

ECON 113BEconomic 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. | 4 |

ECON 121Industrial 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 | 4 |

ECON 132Public 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. | 4 |

ECON 135Money 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. | 4 |

ECON 136International 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”) | 4 |

ECON 137AFundamentals 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. | 4 |

ECON 137BTopics 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. | 4 |

ECON 138Business 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. | 3 |

ECON 139Principles 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. | 4 |

ECON 141Law 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 | 4 |

ECON 151Labor 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. | 4 |

ECON 158Economics 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. | 4 |

ECON 160Public 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 | 4 |

ECON 165Regional 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. | 4 |

ECON 166Urban 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. | 4 |

ECON 190AHistory 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. | 4 |

ECON 195Computer Applications in Economics |
4 | |

ECON 200Seminar in Law and Economics |
4 | |

ECON 201Seminar in Microeconomic Analysis |
1 | |

ECON 202Seminar in Macroeconomic Analysis |
2 | |

ECON 203Seminar in Econometric Methods |
3 | |

ECON 204Seminar in Mathematical Economics |
3 | |

ECON 205AEconomic Decision Making (Quantitative Economic Analysis for Public Decision-Making) |
3 | |

ECON 205BWorkshop in Policy Analysis |
5 | |

ECON 206Managerial Economics |
4 | |

ECON 212Seminar in Economic Development and Institutions |
4 | |

ECON 221Industrial Organization |
4 | |

ECON 232Seminar in Public Finance |
4 | |

ECON 235Seminar in Monetary Theory and Policy |
2 | |

ECON 236Seminar in International Trade and Finance |
4 | |

ECON 250Seminar in Labor Economics |
4 |