Students Should Be Familiar With Microeconomic Concepts And Tools
Microeconomics is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold. Microeconomics has been called “the bottom-up view of the economy”, or “how people deal with money, time, and resources.” Graduates will be able to use money, time, and resources effectively in both their professional and personal lives.
Indicator
Economics MFT - Microeconomics Subscore
The average of the microeconomics subscores of those students who take the economics Major Field Test (MFT). The MFT is an exam created by the Educational Testing Service (ETS) that tests a broad range of economics concepts and provides national comparisons of test results.
Criterion
Average Score On MFT Microeconomics Subscore
The average subscore will be greater than or equal to the national average.
Finding
Microeconomics
The national average was 57.8, while the SHSU average was 54.
Action
Microeconomics
The SHSU average was slightly below the national average. Additional class exercises will be discussed among faculty to cover microeconomics topics in which SHSU students scored below the national average. For example, elasticity concepts, international trade, and production theory will be emphasized through application learning activities. SHSU students exceeded the national averages on questions dealing with supply and demand.
Actions in response to our student performance: 1. the concept of elasticity is considered an important topic for student to demonstrate mastery. We will deepen our coverage by increasing classroom coverage (more lecture time and testing) in both principles and intermediate classes. Coverage of the elasticity concept in other upper division course will receive additional emphasis. 2. Our student’s strong performance in the area of supply and demand is solid result. We plan to continue our extensive coverage of supply and demand coverage. 3. Treatment of production theory will receive additional lecture time, more activity sheets and more testing. Student performance in both principles classes and intermediate classes will be closely monitored. In addition, treatment of production theory (lecture time, activity sheets, testing) in other upper division classes will be increased.
Objective
Students Should Be Familiar With Macroeconomic Concepts And Tools
Macroeconomics is the economics sub-field of study that considers aggregate behavior, and the study of the sum of individual economic decisions. Macroeconomics can be used to analyze how best to influence government policy goals such as economic growth, price stability, full employment and the attainment of a sustainable balance of payments. Graduates will be able to use their skills to influence government policy goals.
Indicator
Economics MFT - Macroeconomics Subscore
The average of the macroeconomics subscores of those students who take the MFT.
Criterion
Average Score On MFT Macroeconomics Subscore
The average subscore will be greater than or equal to the national average.
Finding
Macroeconomics
The national average was 56.2, while the SHSU average was 53.
Action
Macroeconomics
The SHSU average was slightly below the national average. The faculty will employ new applied exercises to improve their coverage of topics in which SHSU students fell below the national average. Such topics include money and financial markets, issues dealing with aggregate demand and aggreate supply, and international finance will be covered. SHSU students exceeded national averages in the area of economic measurement.
Actions in response to our student performance: 1. we will increase class coverage on topics of economic growth and development. Specifically, an additional textbook (Macroeconomics by Charles Jones) that has better coverage of these topics has been adopted. More lecture material focuses on economic growth topics. 2. Enhanced treatment of short-run and long-run dynamics (AD/AS analysis) will been undertaken. A clearer distinction between Classical schools and New Keynesian schools will be made. 3. International economics will receive a a new deeper treatment on open macroeconomics. Development of how the Mundell/Fleming model will be tied to the IS/LM framework.
Objective
Students Should Be Able To Analyze Data
Data analysis is an integral part of the research process. We examine the data using different lenses to answer different questions – to describe a phenomena or event or population, to capture the development of skills and characteristics, or to determine differences based on a proscribed set of variables. We examine, define, conceptualize, and quantify the data in order to answer our questions about who, what, when, where, why, how and how much. Data analysis is a crucial tool that can be used to improve business decisions and help students become better citizens. Graduates will be able to use developed skills to conduct data analysis.
Indicator
Economics MFT - Data Analysis Assessment Indicator
The average of the data analysis assessment indicator of those students who take the MFT.
Criterion
Average Score On MFT Data Analysis Assessment Indicator
The average assessment indicator score will be greater than or equal to the national average.
Finding
Quantitative Analysis
The national average was 55.0, while the SHSU average was 55.
Action
Data Analysis
While the criterion was met for this goal, the subscore data indicate areas of potential improvement. Specifically, the average regression analysis score was over 20% less than the national average. The Business Analysis professors will enhance their coverage of regression analysis through additional lecture material and assignments.
Objective
Students Should Understand How International Issues Affect The Economy
International economics describes and predicts production, trade, and investment across countries. Wages and income rise and fall with international commerce even in large rich developed economies like the US. A firm understanding of how international issues affect individuals, firms, and the government is increasingly necessary in our global economy. Graduates will be able to use international economics in product production, trade, and investments across countries.
Indicator
Economics MFT - International Issues Assessment Indicator
The average of the data analysis assessment indicator of those students who take the MFT.
Criterion
Average Score On MFT International Issues Assessment Indicator
The average assessment indicator score will be greater than or equal to the national average.
Finding
International Issues
The national average was 54.5, while the SHSU average was 49.
Action
International Issues
Of the four goals, this average fell furthest away from the criterion. The subscore data indicate that the international trade average was nearly 20% less than the national average. Further, the average international finance score was roughly 10% less than the national average. There are several possible courses in which these concepts could be strengthened, such as International Economics, Contemporary International Economic Issues, and Intermediate Microeconomics. The instructors in these courses will revise their pedagogy to improve coverage in these areas.