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  • Academic Learning Compact: Economics (CLAS)

    This major teaches you the skills used to understand how households, firms and governments make economic decisions and the implications of those decisions for resource allocation, pricing, the distribution of income and macroeconomic variables.

    Additional information is available from the description of this major.

    Before Graduating You Must

    • Take the Economics Field Test conducted by the ETS. This test will be 10% of your grade in ECO 3203.The goal of the Department of Economics is that each student's average score exceeds the national average of 154; however, a score of 154 is not a graduation requirement.
    • Students who want to graduate magna cum laude or summa cum laude must propose and defend an honors thesis before the department's undergraduate committee.
    • Complete requirements for the baccalaureate degree, as determined by faculty.

    Skills You Will Acquire in the Major (SLOs)

    1. Demonstrate understanding of the implications of utility maximization for the behavior and choices of households and how households respond to incentives.
    2. Demonstrate understanding of the implications of profit maximization for the behavior and choices of firms in the short run, the long run and a variety of market structures.
    3. Demonstrate the meaning and implications of economic efficiency.
    4. Demonstrate how the implications of decisions made by households, firms, the government and the foreign sector affect a country's macroeconomic variables like output, interest rates, inflation, exchange rates and the trade balance.
    5. Demonstrate how economists use statistics to learn about economic behavior.
    6. Critically evaluate and compare alternative policies using complex criteria.
    7. Interpret, understand and communicate quantitative concepts.
    8. Articulate ideas clearly and effectively in speech and in writing, in an accepted manner of presentation.

    Table Key: I = Introduced; R = Reinforced; A = Assessed

    Courses Content Critical Thinking Communication
    SLO 1 SLO 2 SLO 3 SLO 4 SLO 5 SLO 6 SLO 7 SLO 8
    ECO 2013       I, R, A I, R I, R, A I, R, A  
    ECO 2023 I, R, A I, R, A I, R, A     I, R, A I, R, A  
    ECO 3101 R, A R, A R, A         I, R, A
    ECO 3203       R, A R, A R, A R, A I, R, A
    ECO
    Electives (x 4)    		 R, A R, A R, A R, A R, A R, A R, A R, A
    ETS Field Test A A A A A      

    Assessment Types:
    Embedded questions in exams and papers, and the ETS Field Test.

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alc: economics