Assessment : 2012 - 2013 : Educational Programs :
Economics BBA
1 Goal 4 Objectives 4 Indicators 4 Criteria 4 Findings 4 Actions
|
GOAL: Outstanding Program In Economics
|
|
|
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
|
|
|
|
|
|
Utilizing an embedded question methodology, we drew a sample of questions that match with the themes of “what economics majors should know”. Our criteria for an acceptable response is set at 70% correct; below that correct response rate is not acceptable.
|
| Criterion |
|
|
Minimum Score On Sample Questions
|
|
|
|
|
|
Our criteria for an acceptable response is set at 70% correct; below that correct response rate is not acceptable.
|
| Finding |
|
|
Resulsts From Embedded Questions Asked In ECON 3357 & ECON 4357 Spring 2013
|
|
|
|
|
How markets work? 52.7% correct response rate
Elasticity concepts? 29% correct response rate
|
Actions for Objective:
| Action |
|
|
Pedagological Changes Concerning Elasticity
|
|
|
|
|
Student's are exposed to the concept of elasticity in several economics classes. Somehow they are not carrying their knowledge over from one class to the next. A collective effort needs to be made to highlight the importance of elasticity as a concept. One way to do this is to add more questions on the topic to exams and homeworks.
|
|
GOAL: Outstanding Program In Economics
|
|
|
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
|
|
|
Sample Question Approach-Macroeconomics
|
|
|
|
|
|
Utilizing an embedded question methodology, we drew a sample of questions that match with the themes of “what economics majors should know about macroeconomics”.
|
| Criterion |
|
|
|
|
|
Our criteria for an acceptable response is set at 70% correct; below that correct response rate is not acceptable.
|
| Finding |
|
|
Resulsts From Embedded Questions Asked In ECON 4357 Spring 2013
|
|
|
|
|
Macroeconomic concepts/topics 77.5%
Nature and workings of economic institutions 83.5%
International issues/events 73.5%
|
Actions for Objective:
| Action |
|
|
Macroeconomics Themes That All Economics Majors Should Know
|
|
|
|
|
Although our students performed well in this area, one reason may be that the questions dealt with topics which could be memorized rather than analyzed. We need to ask more analytical questions.
|
|
GOAL: Outstanding Program In Economics
|
|
|
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
|
|
|
Data Analysis Indicators From Embedded Questions In ECON 4357
|
|
|
|
|
|
Questions were embedded in ECON 4357 (managerial economics).
|
| Criterion |
|
|
70% Or Better Response Rate On Embedded Questions
|
|
|
|
|
|
Our criteria for an acceptable response is set at 70% correct; below that correct response rate is not acceptable.
|
| Finding |
|
|
ECON 4357 Response Rate On Data Analysis Type Questions
|
|
|
|
|
Data Analysis 53.5% correct response rate
|
Actions for Objective:
| Action |
|
|
Improvements In Student Quantitative Skill Set
|
|
|
|
|
A 52.5% correct response rate is unacceptable. Suggestions for making improvements in this area include:
- Changing the economics electives to mandate an additional quantitative analysis course in either forecasting or econometrics.
- Requiring quantitative analysis projects in certain courses
- Produce more online support materials dealing with quantitative skills used by economics majors. Although we have developed some of these materials already, their use has been limited. We want to increase student awareness and use of these materials.
|
|
GOAL: Outstanding Program In Economics
|
|
|
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
|
|
|
Embedded Questions Dealing With International/Global Issues In ECON 4357
|
|
|
|
|
|
Questions dealing with international/global issues were embeded in Spring 2013 ECON 4357 (managerial economcs). Managerial economics is considered the capstone course in the Economics BBA curriculum.
|
| Criterion |
|
|
70% Or Better Response Rate On Embedded Questions Dealing With International/Global Issues
|
|
|
|
|
|
70% or better correct response rate is considered to be acceptable. Anything below 70% is considered to be unacceptable.
|
| Finding |
|
|
Results For Embeded Questions Dealing With International Issues In ECON 4357
|
|
|
|
|
International issues/events correct response rate 73.5%
|
Actions for Objective:
| Action |
|
|
Students Perfomance On International/Gloabal Issues Is Acceptable
|
|
|
|
|
In general, we blieve that our students' knowledge of international/global economic issues is acceptable. We are not convinced that any changes are currently necessary.
|
|
Previous Cycle's "Plan for Continuous Improvement"
|
|
The Economics MFT exam was proctored for the first time in the history of the economics department in spring 2012. These initial results have identified areas in which the faculty need to focus their attention. The MFT exam will then proctored again in spring 2014, thus allowing for measurement of progress towards our goals.
|
|
Update on Previous Cycle's "Plan for Continuous Improvement"
|
|
The MFT exam will be administered in the Spring 2014 semester to our graduating seniors.
|
|
Plan for Continuous Improvement
|
|
The assessment data above indicates that our students are weakest in data analysis and analytical reasoning. The faculty will discuss ideas on how to improve our students capability in this regard. We will consider changes to the curriculum as well as expanding/enhancing support materials.
|