Students Should Understand The Impact Of The Increasing Integration Of The Global Economy
The increasing integration of the U.S. economy with the rest of the world affects the well-being of consumers and business firms here and abroad. To assess these effects requires an understanding of conditions leading to economic development and the distribution of gains from international trade and investment. Students should understand the impact of globalization on economic decision making.
Indicator
Correct Response Rate On Embedded Questions Concerning: The Integration Of The Global Economy
Questions about globalization of the U.S. economy and its consequences will be embedded in the final exams of ECO 335, 374, 468, 480.
Criterion
Correct Response Rate On Embedded Questions Concerning: The Global Economy
At least 70% of the students will respond correctly to embedded questions concerning the integration of the global economy in ECO 335, 374, 468, 480.
Finding
Economics 480 Results
58 out of 62 students correctly identified core topics regarding global integration. Specifically, 30 of 31 students correctly answered an embedded question regarding Customs Union while 28 of 31 students correctly answered an embedded question regarding Trade Diversion.
Action
Increase Number Of Indicators
Global integration encompasses a variety of issues. Only two indicators were used to identify student competence in Global Integration. There is a need to develop additional indicators for this objective.
Objective
Students Should Understand The Financial And Economic Aspects Of Conducting Business Internationally
Multinational firms confront the challenges of operating in markets with different legal environments, currency systems, and institutions regulating trade and investment. Students should understand how these differences will affect the economic and financial decisions of the firm.
Indicator
Correct Response Rate On Embedded Questions Concerning: Financial And Economic Aspects Of Doing Business Internationally
Questions embedded in the final exams of FIN 471, ECO 468, and 480 will be used to assess students understanding of the financial and economic aspects of doing business globally.
Criterion
Correct Response Rate On Embedded Questions Concerning: The Financial And Economic Aspects Of Conducting Business Internationally
At least 70% of the students will respond correctly to embedded questions concerning the financial and economics impact of doing business globally. The questions will be embedded in the final exams of ECO 468, 480, and FIN 471.
Finding
Multinational Corporations
Students in ECO 480 (International Economics) learned about many aspects of international business. 81% of students correctly answered a question regarding transfer pricing embedded in the comprehensive final exam.
Finding
Foreign Exchange
Multinational corporations must be aware of the financial impact of foreign exchange. Six questions were embedded in the final exam of international trade. Overall, students demonstrated a clear understanding of the effects of foreign exchange rates and currency effects on business. Specifically, 97% correctly answered a question concerning currency appreciation and depreciation. 58% correctly identified the interest rate arbitrage problem. 84% correctly answered material regarding absolute purchasing power. Finally, 48% demonstrated knowledge of hedging problem.
Action
Identify Ways To Improve Student Understanding Of The Hedging Problem
Faculty scheduled to teach the international economics course sequence will be informed of the need to emphasize the effects of hedging in international business.
Objective
Students Should Understand The Management And Marketing Challenges Of International Business
Operating internationally presents special challenges to managers and marketers in planning and organizing work systems, product distribution channels, and product promotional campaigns. International Business majors should understand these challenges and have knowledge of how they might be overcome.
Indicator
Correct Response Rate On Embedded Questions Concerning: The Management And Marketing Challenges Of International Business
Questions embedded in final exams of MGT 471 and MKT 471 will be used to determine the ability of students to understand the management and marketing challenges of doing business globally.
Criterion
Response Rate On Embedded Questions Concerning: The Management And Marketing Challenges Of International Business
At least 70% of the students will respond correctly to embedded questions on the final exams in MGT, MKT 471 concerning the management and marketing challenges of doing business globally.
Finding
Global Marketing - Findings
Thirty-eight items were used in a comprehensive exam in MKT 471. Students averaged 78.1%. This meets the target performance level of 70%.
Action
MKT 471 Results
Beginning fall 2011, a faculty-led major assessment team will review how assessment for this objective can be targeted to international business majors.