Division of Academic Affairs
Annual Assessment Report
For Undergraduate & Graduate Degree Programs
AY 2008-2009
nnual
Name of Program: Economics Department
College:
CoAS
Prepared by: Robert Rider
Date: 5/26/09
Department Chair/Program Coordinator
Email Address:
[email protected]
Extension: 4140
PART A (Required by May 21, 2009 – last day of Spring semester)
1)
Please describe the student learning outcomes you focused on for assessment this year,
the assessment activities you used to measure student learning in these areas, and the
results of your assessments. Please also comment on the significance of your results.
See attached document.
2)
How did your program utilize any resources provided for assessment this year? Please
attach a budget with specifics.
The chair received a stipend of $500 to partially cover the labor costs.
3)
As a result of your assessment findings, what changes at either the course- or programlevel are being made and/or proposed in order to improve student learning? Please
articulate how your assessment findings suggest the need for any proposed changes.
See attached document.
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5/24/08
Annual Report on Assessment of Degree Programs, AY 2008-09
PART B
4)
Planning for Assessment in 2009-2010
(Required by May 21, 2009)
Please identify one or two student learning outcomes that your program will focus on for
assessment next year.
Apply existing economic knowledge:
 Understand and effectively employ relevant analytical and logical skills to solve
Problems
 Reason systematically and understand the use of models
 Reason quantitatively
What specific assessment activities will you conduct next year in order to measure
program student learning in these areas
A test will be designed and administered in ECON 471 at the beginning of the course to assess
the students’ retention of learning from ECON 301 and 303. (ECON 471 requires both ECON
301 and 303.)
6)
What new or additional resources/support might your program need in order to
conduct these assessment activities next year? (Please provide specific information
regarding your needs and related costs)
A small stipend would be helpful.
Academic Programs/DB
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Annual Report on Assessment of Degree Programs, AY 2008-09
Economics Department Assessment for 2008-9
The Economics Department has a set of courses (five) that is the “core” of our upper division
curriculum. These represent foundational courses for the major. Two of these five courses are
Intermediate Microeconomic Theory I and II, ECON 301 and 303, respectively. Our department
is unique in how we split the intermediate microeconomics. We have never assessed the
effectiveness of these courses. This year we initiated that assessment. We plan to continue the
assessment next year.
Our assessment for 2008-9 was designed to determine how well these courses align with the
department’s curriculum, both for the major generally and as prerequisites for certain upper
division electives. First, we identified the economics subjects that are covered in the two courses.
Second, we identified the mathematical concepts and skills used in the two courses. (See
Assessment_301.doc and Assessment_303.doc.) Third, we surveyed the faculty to ascertain how
well the courses align with the expectations of the faculty. (See Department_survey.doc for our
survey.)
The following is a summary of our findings:
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Academic Programs/DB
Generally, the courses are appropriately aligned for the major.
Generally, the courses are appropriately aligned as prerequisites.
There are a few economics subject areas that need more emphasis or coverage:
o Intertemporal consumption will again be added to ECON 301. This was removed
because the current text (Perloff) does not cover the intertemporal consumption
model. This can serve as another example for income and substitution effects, and
to illustrate the complexity of the savings function.
o There is a need for more coverage of externalities. This may be shifted from
ECON 301 to ECON 303. This will enable more coverage of public goods in
ECON 301. ECON 301 would then be able to cover vertical summation of linear
demand functions. (Both courses extensively cover (algebraically and
geometrically) horizontal summation of linear equations (residual supply,
aggregate demand, and aggregate supply).)
o There is a need for an introduction of game theory since game theory is used in
numerous courses throughout the curriculum. This used to be covered in ECON
301 but there has not been enough time to cover game theory in that course.
Pedagogically it is probably best that it be covered in ECON 303 as part of the
lectures on oligopoly.
o There was some concern that factor markets were not being adequately covered.
ECON 301 uses the labor leisure choice model as an application of income and
substitution effects, which enables lectures on labor supply. In that course, the
complexity of labor supply is emphasized. In addition, the labor market is
discussed as an example of price controls in the review of supply and demand in
ECON 301. But this may not be enough.
o There was also some concern raised about the lack of coverage of efficiency in
production.
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Annual Report on Assessment of Degree Programs, AY 2008-09
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Academic Programs/DB
Generally, the mathematics used is appropriate for the major and the prerequisites. Both
courses emphasize solving simultaneous equations, summation of linear equations, and
basic geometry used in welfare economic analysis. These were the mathematical skills
that the faculty identified to be of particular importance for their courses requiring these
prerequisites.
It was noted that our division of intermediate microeconomic theory enables some
advanced theory to be developed within the courses as opposed to developing advanced
theory in a separate course. (The latter is often the way other programs divide
intermediate microeconomic theory.) There is a greater integration of intermediate and
advanced level of teaching. This may be better pedagogically for the students.
Our division of intermediate microeconomic theory does create challenges:
o The separation of subjects between the two courses can be arbitrary. For example,
when lecturing on efficiency, it is more standard to cover both exchange
efficiency and production efficiency together. It is standard to cover public goods
and externalities together rather than in separate courses.
o There may be some redundancies and duplication of subjects across the two
courses. ECON 303 covers residual supply (e.g. trade) and ECON 301 covers
constrained residual supply for the case of minimum wage in the section on
general equilibrium.
o Some learning synergies may not be exploited. The mathematics of cost
minimization and utility maximization are quite similar. (Rider does point out to
students the similarities but this may not be sufficient for students unfamiliar with
ECON 303.)
ECON 301 and 303 are designed as junior level courses. Students taking them in their
junior year will be better prepared for the senior level courses (400 level) which are the
most challenging courses in our curriculum. Yet many students enroll in ECON 301 and
303 in their senior year because of their reputation as difficult courses. These students
may not be adequately prepared for the 400 level electives. In addition, senior students
not passing 301 or 303 may face delays in graduating on time. Departmental advising has
not corrected this problem.
New course descriptions to reflect the suggested changes. (Suggested changes in italics.)
o Intermediate Microeconomic Theory I: Examines the economic decisions made
by individuals as consumers. Subject matter includes consumer choice, demand
theory, labor leisure choice, intertemporal choice, choice under risk, welfare
economics, general equilibrium analysis, and public goods. Enrollment
requirement: MATH 132 or 160, ECON 201 and 202.
o Intermediate Microeconomic Theory II: Examines the economic decisions
made by business firms. Subject matter includes production and cost theory,
theory of the firm, market structures, game theory, externalities and factor market
analysis. Enrollment requirement: MATH 132 or 160, ECON 201 and 202.
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