ASSESSMENT OF THE ECONOMICS MAJOR

ASSESSMENT OF THE ECONOMICS MAJOR

I. Goal:

The Economics Major will produce graduates who understand the core principles of economic reasoning including the functioning of economic institutions and the decisions of policy makers and other economic agents within a society.

II. Specific Objectives

Economic majors will be able to:

1. Apply and explain economic reasoning drawn from microeconomics and macroeconomics, as appropriate, to problems in several sub-fields of economics—for example, international trade and finance, labor economics, economics of national defense as well as the core microeconomics and macroeconomics courses.

2. Use appropriate simple, statistical models to interpret data and test empirical economic questions.

3. Describe and explain the functions of important American and international economic institutions, for example, the Federal Reserve System, anti-trust laws, the World Trade Organization.

4. Locate appropriate reference material, evaluate and critique popular media and understand professional economics literature.

5. Write a well-constructed research paper analyzing an economic issue/problem.

III. Assessment Methods Currently Under Discussion

Portfolio Method (begin collecting materials FALL 2001.)

Exit Interviews of graduating midshipmen (could first conduct SPRING 2001.)

External Examination (next visiting committee SPRING 2006.)

Alumni Survey (utilize yard-wide initiative.)

Awards Committee Focus Group (feedback in SPRING 2001.)