Learning Objectives for the B.A. in Economics
(Revised 2005-2006)
- To understand the economic problem of allocating limited resources among competing uses in a global economy.
- To understand the behavior of consumers and producers in product markets and the concept of the efficient allocation of resources.
- To understand the concept of market failure and the role of government in addressing these inefficiencies.
- To understand the role of government in the economy in the context of business activity, income distribution, poverty and economic growth.
- To understand how different market structures affect resource allocation.
- To understand theory used to analyze macroeconomic (aggregate) variables.
- To understand how public policy affects macroeconomic variables.
- To critically evaluate and compare alternative schools of thought and their macroeconomic policy outcomes.
- To understand the factors which contribute to economic growth.
- To understand the interaction between goods, factors and financial markets.
- To understand how to access, use and interpret economic data.
- To understand how to access existing economic literature and analyze economic problems using theory and quantitative methods.
- To understand how to apply theory to analyze and write about economic events and issues coherently.
- To understand statistical methods for estimation and evaluation.
- To understand and apply various mathematical methods used in economic theory.
