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Economics Learning Outcomes


Economics 231  (Macroeconomics)


Instruction in Macroeconomics supports students’ attainment of the course outcomes listed below.
  1. Students will demonstrate an understanding of the fundamental problem of scarcity, basic supply and demand model including surpluses and shortages, and characteristics of the market system.
  2. Students will demonstrate an understanding of private sector and public sector sources and uses of income, the United States as part of the global economy, and basic calculations of domestic activity including Gross Domestic Product.
  3. Students will demonstrate an understanding of aggregate supply and demand, Classical and Keynesian employment theories, and basic fiscal policy options.
  4. Students will demonstrate an understanding of money and banking, the creation of money, and monetary policy with emphasis on the Federal Reserve System.


Economics 232 (Microeconomics)
Instruction in Microeconomics supports students’ attainment of the course outcomes listed below:

  1. Students will demonstrate an understanding of basic supply and demand model including both surpluses and shortages.
  2. Students will demonstrate an understanding of elasticity of demand and other theories on consumer behavior (income effect, substitution effect and utility theory).
  3. Students will demonstrate an understanding of the costs of production in both short run and long run.
  4. Students will demonstrate an understanding of the four market models, including price/output determination in each structure as well as anti-trust theory related to each structure.