Learning Outcomes

After finishing the Economics major, students should be able to:

  • See the role of economic and other incentives in shaping human behavior in real-world situations.
  • Understand the principles of microeconomics: uncertainty and risk, constrained optimization, production, distribution, consumption, and markets.
  • Understand the principles of macroeconomics: economic growth, unemployment, inflation, money, interest rates, balance of payments, and exchange rates.
  • Comprehend the structure, development, and impact of economic institutions.
  • Appreciate the ethical concerns that should underlie economic policy: efficiency, fairness, equity, and individual freedom.
  • Separate the normative from the positive content in economics propositions and research, including separating arguments based on special pleading from those aimed at serving the interests of humanity.
  • Use statistics in order to analyze and understand a problem.
  • Possess the mathematical skills needed to understand economic problems.
  • Create or design a model in order to understand an economic problem.
  • Generate or gather real-world data concerning economic issues.
  • Write effectively about economics and communicate to readers clearly and fluently.
  • Orally communicate economic ideas well, presenting theories and evidence clearly.