Students demonstrate five basic kinds of understanding:
- The ability to think abstractly
- Awareness of the assumptions behind different paradigms
- Knowledge of trade-offs faced by economic policymakers
- How price signals lead to resource allocation in a market economy
- The links between the fate of the US economy and global flows of goods and labor
In addition, students will demonstrate:
- basic economic literacy including data interpretation.
- proficiency appling graphical tools and models of microeonomic analysis.
- proficiency appling graphical tools and models of macroeonomic analysis.
- the ability to think logically and critically about economic issues in the hisorical context of economic thought.
- the ability to conduct economic research