Knowledge of economic principles

Students will demonstrate mastery of the basic principles economists use to understand/explain/predict economic activity.

These include:

• Economic Methodologies
• Theory of Markets
• Marginal Analysis
• Opportunity Cost
• Comparative Advantage, Specialization and Exchange
• Savings, Productivity and Living Standards
• Resource Allocation
• Fiscal and Monetary Theory and Policy 

Ability to apply economic principles to a broad range of issues

Students will demonstrate understanding of economic issues and how these impact them personally and society as a whole. Students will demonstrate their ability to apply economic reasoning, both qualitative and quantitative, to problems/issues they will face in our society.

• Student will demonstrate the ability to analyze the key factors impacting the profitability of an industry or individual firm.
• Student will demonstrate the ability to analyze the impact of government policies or external factors on the national economy.
• Student will demonstrate the ability to recognize the presence of economic incentives (or disincentives) and forecast their impact on the status quo.

Understanding of alternative perspectives on key economic issues

Students will demonstrate increasing capacity to differentiate between multiple perspectives and apply moral reasoning skills to a number of key issues, such as: the relationship between labor and capital, the proper role of government in economy, and the impact of international trade on developing countries.

Ability to communicate (speak, write, listen) effectively

The student will demonstrate the ability to think logically, to clearly articulate a position, and to present solutions.