For a program in economics to be considered as "High Quality", it should provide students with the foundation of knowledge necessary to interpret the economic events happenning around them.
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
Intermediate Macroeconomics Final Exam
Intermediate Macroeconomics is a course required of all economics majors. Performance on the final exam is an indicator of how well students understand the key concepts of macroeconomics.
Criterion
Average Score On Selected Questions From Intermediate Macroeconomics Exam
The average subscore on the selected questions will be at least 70%.
Indicator
Macroeconomic Assessment Questions
Areas where student performance was short of our department goals tend to be related to operations of a monetary system/policy (questions 1, 10, 11, and 12). The average of these four areas was 56.5%. Attention will be required to address this area.
Areas addressing fiscal policy (questions 2, 6, 7 and 8) averaged 73.8%. These averages exceeded our departmental objectives.
Objective
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
Microeconomics Principles Assessment
A set of 10 questions was administered to students in 5 different sections of ECON 2302 (Principles of Economics).
Criterion
Average Score On Microeconomics Principles Assessment
The average score on the Microeconomics Principles Assessment should at least 70%.
Finding
Elasticity Concept Assessment
Questions covering elasticity concepts indicates weaknesses in student understanding/Mastery of the concept. student performance did not reach our standard of 70%. Also students did not reach our standard on the concept of dervived demand.
Action
Fall 2015 Plans
In the fall 2015 faculty meeting, copies of all microeconomics questions that we have used in assessment since 2008 will be available for review and discussion. The department members will assemble a body of questions to draw from that focuses on shortcomings, weaknesses and strengths of our current curriculum approach. New approaches and modifications will be implemented. The weakness area dealing with elasticity indicates added resources are required to enhance our students’ quantitative skills. This will require added class time devoted to this concept. Some instructors have committed to additional assignments on this concept. In addition, more activities will assigned in the quantitative classes (Business Analysis). Faculty members are commitment to preparing students with stronger skill sets. This is consistent the university’s list of skill sets outline by our university president (see “Attributes of SHSU Graduates”). Assessment indicators will be reviewed in 2015-2016 period.
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 - Data Analysis Assessment Indicator
The average of the data analysis assessment indicator of those students who take ECON 3357 and ECON 4357.
Criterion
Average Score On Data Analysis Assessment
The average assessment score will be greater than 70%.
Action
Fall 2015 Plans
In the fall 2015 faculty meeting, copies of all microeconomics questions that we have used in assessment since 2008 will be available for review and discussion. The department members will assemble a body of questions to draw from that focuses on shortcomings, weaknesses and strengths of our current curriculum approach. New approaches and modifications will be implemented. The weakness area dealing with elasticity indicates added resources are required to enhance our students’ quantitative skills. This will require added class time devoted to this concept. Some instructors have committed to additional assignments on this concept. In addition, more activities will assigned in the quantitative classes (Business Analysis). Faculty members are commitment to preparing students with stronger skill sets. This is consistent the university’s list of skill sets outline by our university president (see “Attributes of SHSU Graduates”). Assessment indicators will be reviewed in 2015-2016 period.
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
International Issues Assessment Indicator
Economics students in ECON 4340 (International Economics) were asked, on their final exam, questions covering five key areas of international economics. These areas are as follows: 1) Determining the pattern of comparative advantage 2) How welfare changes through trade 3) Effects of a tariff on trade 4) Consequences of global economic integration 5) Trade implications of changes in international monetary exchange rates
Criterion
Average Score On International Issues Assessment
The average assessment score will be at least 70%.