Indiana University South Bend is committed “to excellence in teaching, learning, research, and creative activity; to strong liberal arts and science programs and professional discipline; …to the economic development of its region and state, IU South Bend meets the changing educational and research needs of the community and serves as a vibrant cultural resource.”  The School of Business and Economics (SBE) mission states that the School “… shall offer high quality educational programs that provide functional knowledge, skills, and capabilities to a diverse student body and enable them to succeed in a dynamic business environment.”
The faculty of economics shares with the University and the School of Business and Economics the fundamental mission of providing the highest quality education to our students.
In support of this mission, the faculty of economics provides courses and teaching instruction that meet the following goals.

Program Goals

Learning Objectives/Outcomes

1. Develop the ability to explain core economic terms, concepts, and theories

1.1 Explain the function of markets and prices as allocative mechanisms, including market structures, failures, and incentives

1.2 Apply the concept of equilibrium to both microeconomics and macroeconomics

1.3 Identify key macroeconomic indicators and measures of economic change, growth, and development

1.4 Identify and explain the behavior of microeconomic agents

2. Demonstrate the ability to employ the “economic way of thinking”

2.1 Explain the application of marginal analysis

2.2 Explain the use of benefit/cost analysis

2.3 Explain the contribution of economics to non-market social issues

3. Apply economic theories and concepts to contemporary social issues, as well as formulation and analysis of policy

3.1 Describe how economic trade-offs and social values impact public/private policy, and the success or failure of policies to achieve intended outcomes

4. Recognize the role of ethical values in economic decisions

4.1 Distinguish between normative and positive economics

4.2 Identify the limits of economic analysis

4.3 Distinguish between efficiency and equity

5. Demonstrate good written, oral, and electronic communication skills

5.1 Present economic arguments in non-quantitative terms

5.2 Synthesize and summarize the arguments found in both academic and popular economic media

5.3 Discuss economic concepts in an articulate manner in a classroom or seminar setting

6. Demonstrate good quantitative reasoning and mathematical skills

6.1 Present an economic argument in quantitative terms

6.2 Demonstrate the ability to solve systems of equations

6.3 Be able to conduct economic analysis using equations and graphs

7. Demonstrate independent learning skills, as well as the ability to work in a team environment

7.1 Be able to carry out an economic research project

7.2 Be able to function as a full partner in a team project

8. Demonstrate critical thinking and problem solving skills

8.1 Present viewpoints and alternative hypotheses on economic issues

8.2 Recognize underlying assumptions in economic models

8.3 Demonstrate ability to use the economic tools of analysis

9. Demonstrate awareness of international, economic, social, legal, multicultural, and political perspectives

9.1 Assess the role of domestic and international institutions and norms in shaping economic outcomes

10. Demonstrate the ability to collect, process, and interpret data, including statistical inferences

10.1 Recognize how to use the scientific method in economics

10.2 Formulate empirically testable hypotheses

10.3 Identify sources of data to conduct economic analysis

10.4 Calculate, present, and discuss descriptive statistics

10.5 Conduct a statistical analysis

10.6 Critically assess the statistical analysis of other researchers

11. Demonstrate computer proficiency within economics

11.1 Use electronic databases

11.2 Use standard software packages

11.3 Use the internet

Program Goals for the Economics Program/ Frequency

TUCE 4 (1) Pre- and Post-test/ Once every three years

Curricular Assessments (2) (ETS and Knowledge Exams)/ Annually

Skills Check List (3)/ Each Semester

E490 Capstone Course/ Annually

Online Exit Interview (4) / Annually

Alumni Survey/ Once every three years

1. Develop the ability to explain core economic terms, concepts, and theories

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2. Demonstrate the ability to employ the “economic way of thinking”

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3. Apply economic theories and concepts to contemporary social issues, as well as formulation and analysis of policy

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4. Recognize the role of ethical values in economic decisions

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5. Demonstrate good written, oral, electronic, and technical communication skills

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6. Demonstrate good quantitative reasoning and mathematical skills

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7. Demonstrate independent learning skills, as well as the ability to work in a team environment

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8. Demonstrate critical thinking and problem solving skills

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9. Demonstrate awareness of international, economic, social, legal, multicultural, and political perspectives

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10. Demonstrate the ability to collect, process, and interpret data, including statistical inferences

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11. Demonstrate computer proficiency within economics

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