Albers School of Business and Economics
Economics Major

Learning Goals

  • Undergraduate Business Foundation

    • Demonstrate critical thinking and analytical skills.
    • Demonstrate competent oral and written communication skills.
    • Demonstrate competent leadership skills.
    • Demonstrate understanding of the body of knowledge encompassed by the UG Business Foundation courses.

    Economics (ECON)

    • Identify, and describe to the lay person, the important institutions and determinants of economic activity at the local, regional, national, and international levels, including the basics of fiscal and monetary policy and how each affects the economy.
    • Explain to the non-economist the fundamental economic problem of scarcity (and tradeoffs);the meaning of a market economy and how markets allocate society's scarce resources; what it means for markets to fail and the role of government in finding solutions for market failure.
    • Analyze the ethical and social justice dimensions of market and policy outcomes.
    • Identify key relationships between important variables.
      • Understand the differences between correlation and cause-and-effect.
      • Apply algebraic, graphical, and statistical tools to analyses of problems and issues in business and public policy.
      • Identify the relationship between assumption and interpretation.
       
    • Think critically, for example, be able to:
      • Summarize low-level articles from professional journals.
      • Articulate the connections between the different sub-disciplines of economics.
      • Automatically compare and contrast different economic theories.
       
    •  Employ their discipline knowledge and skills in service to the community, for example:
      • Present themselves and interact with others in a professional manner.
      • Communicate economic concepts orally.
      • Convey economic ideas in a variety of written forms.