Economics Proposal for CORE 2014 due by February 1, 2013

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1 Economics Proposal for CORE 2014 due by February 1, Executive Summary: The Economics Curriculum Committee very much appreciates the leadership, time and energy put forth by the Core Curriculum Review Committee, the Core Curriculum Steering Team and the VP Council in this endeavor. We also very much appreciate this opportunity to be a part of the planning for the new CORE With the rationale and alignments presented below, the Economics Curriculum Committee recommends that the following three courses be included in CORE 2014: A) ECON 1301 Introduction to Economics, B) ECON 2301 Principles of Economics I Macroeconomics, and C) ECON 2302 Principles of Economics II Microeconomics. All three of these courses are in the Core Additionally, we would like to recommend that ECON 1301 be included in the Component Area Option for the reasons presented on Pages 4 through 6 of this report. We also recommend the following two courses be excluded from CORE 2014 at this time: ECON 1303 and ECON Introduction: The information immediately below is provided in response to Charge I issued by the VP Council in its dated April 26, This charge was issued to the District Economics Curriculum Committee along with other Curriculum Committees having courses in the Tier One / Wellness & Human Experience learning category of the present Core. In order to provide a full, yet concise response and to be sure all requested information is included, we will follow the original outline of the Charge I as it was issued. We trust this will be to the satisfaction of the VP Council, the Core Curriculum Steering Team and the Core Curriculum Review Committee. As best we understood the scheduling, a response to Charge II was not originally requested to be included in this Feb 1, 2013 report. However, after confirming the progress we had made on Charge I during 2012, it was requested by CORE2014 in its January 4 that we also provide an update on our progress with the development of our Assessment Plan. This update of our progress is now provided in the second part of this report

2 Charge I: Discipline Specific Charge Item 1) Recommend the course(s) to be included in Core 2014 in a foundational component area or the component area option and how they align with the appropriate foundational component area and core objectives. All recommended courses must meet a minimum of three core objectives. Response: The Economics Curriculum Committee recommends that the following three courses be included in CORE 2014: A) ECON 1301 Introduction to Economics, B) ECON 2301 Principles of Economics I Macroeconomics, and C) ECON 2302 Principles of Economics II Microeconomics. Rationale: A) ECON 1301 This freshman level survey course aligns very well with the Foundational Component Area designated as Social & Behavioral Sciences. Justification to actually place this introductory course in the Component Area Option is presented following the initial discussion of alignment. On the THCB website the Social & Behavioral Sciences Foundational Component Area is described as follows (underlines are ours) Social/Behavioral Science focuses on the application of empirical and scientific methods that contribute to the understanding of what makes us human. Courses involve the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. We believe our THECB approved ECON 1301 course description (as follows) aligns very well with the THECB description for the indicated Foundational Component Area Course Description: A survey of basic economic concepts is presented. Topics include supply and demand, consumer behavior, price and output decisions by firms, market structures, factor markets, market failures, and international trade. An emphasis is also given to national income, unemployment, inflation, business cycles, aggregate supply and demand, monetary and fiscal policy, and economic growth. This course may also serve as preparation for the Principles of Economics courses, Economics 2301 and Economics (3 Lec.) Coordinating Board Academic Approval Number In particular our course description s emphasis on the topics of, consumer behavior, price and output decisions by firms, market structures, factor markets, market failures, and international trade and unemployment, inflation, business cycles, and 2

3 economic growth align very well with THECB s emphasis on, the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. Additionally, in introducing the analytical methods employed for supply and demand aggregate supply and demand, and monetary and fiscal policy the ECON 1301 provides a number of basic applications and examples of empirical and scientific methods that contribute to the understanding of what makes us human. We believe the ECON 1301 aligns very well with the following required THECB Core Objectives for this Component Area: a) Critical Thinking Skills, b) Communication Skills, c) Empirical and Quantitative Skills, and d) Social Responsibility Skills. We also believe the course aligns especially well with the Core Objective of Personal Responsibility Skills although this is not a required Core Objective in the Social and Behavioral Sciences Component at this time. a) Critical Thinking Skills alignment is provided by the following ECON 1301 THECB Learning Outcomes (Primary LO s below followed by Secondary LO s in square brackets) 3. Utilize the basic demand and supply model to predict the effects of different market forces on equilibrium price and quantity. 5. Explain the concept of market failure and the alternatives to market processes in resource allocations. [7. Use aggregate supply and aggregate demand to predict the effects of fiscal and monetary policy actions on output, unemployment, and inflation.] b) Communication Skills alignment is provided by the following ECON 1301 THECB Learning Outcomes (Primary LO s followed below by Secondary LO s in square brackets) 2. Describe the economic system of the United States. 4. Identify the four market structures and their effects on firm behavior. [1. Explain the scarcity/choice problem existing throughout the world. 6. Define and calculate gross domestic product, inflation rate, and unemployment rate.] c) Empirical and Quantitative Skills alignment is provided by the following ECON 1301 THECB Learning Outcomes (Primary LO s followed below by Secondary LO s in square brackets) 6. Define and calculate gross domestic product, inflation rate, and unemployment rate. 3

4 7. Use aggregate supply and aggregate demand to predict the effects of fiscal and monetary policy actions on output, unemployment, and inflation. [3. Utilize the basic demand and supply model to predict the effects of different market forces on equilibrium price and quantity. 5. Explain the concept of market failure and the alternatives to market processes in resource allocations.] d) Social Responsibility Skills alignment is provided by the following ECON 1301 THECB Learning Outcomes (Primary LO s below followed by Secondary LO s in square brackets) 1. Explain the scarcity/choice problem existing throughout the world. 8. Explain the benefits and costs of international trade and the role of international trade in the U.S. economy. [2. Describe the economic system of the United States. 4. Identify the four market structures and their effects on firm behavior.] Justification to place the ECON 1301 in the Component Area Option : For the reasons suggested in Charge # 1 to: 1) Enhance student learning and student success, 2) Maintain a pathway through which students can succeed, and 3) Maintain and augment the academic rigor of the Core, we recommend that ECON 1301 be placed in the Component Area Option. As required to be in the CAO and as described above, the ECON 1301 does have a primary alignment with FCA 80, Social and Behavioral Sciences. In the CAO it can serve as a solid preparation and a pathway to the Principles of Economics courses being recommended for Tier Two. This approach will allow us to enhance student learning and student success in the Principles courses while maintaining and augmenting their academic rigor. The ECON 2301 and ECON 2302 Principles courses add a very significant level of depth to a number of the topics that are introduced in the ECON 1301 course. The ECON 1301 course can also serve very well as an Interdisciplinary Preparation and as an Area of Application and Integration for courses in five other Foundation Component Areas: 1) Communication - FCA 10, 2) Mathematics - FCA 20, 3) Language, Philosophy and Culture FCA 40, 4) American History FCA 60, and 5) Government / Political Science FCA 70. For alignment purposes additional information regarding the nature of the Interdisciplinary Preparation and the Areas of Application / Integration provided by the ECON 1301 are indicated below. The essentials from the descriptions of those five FCA s are provided these are followed by the related ECON 1301 Learning Outcomes. Appropriate underlining is provided to highlight the alignments: 4

5 1) Communication - FCA 10 - Area of Application developing ideas and expressing them clearly as well as involve the command of oral, aural, written, and visual literacy skills 1. Explain the scarcity/choice problem existing throughout the world. 2. Describe the economic system of the United States. 5. Explain the concept of market failure and the alternatives to market processes in resource allocations. 8. Explain the benefits and costs of international trade and the role of international trade in the U.S. economy. 2) Mathematics - FCA 20 Area of Application focus on quantitative literacy in logic, patterns and relationships as well as application of appropriate quantitative tools to everyday experience 1. Production Possibilities model is a key graphical device used to explain the scarcity/choice problem existing throughout the world. 2. Circular Flow model with contemporary data is key graphical device used to help describe the economic system of the United States. 3. Utilize the basic demand and supply model to predict the effects of different market forces on equilibrium price and quantity. 6. Define and calculate gross domestic product, inflation rate, and unemployment rate. 7. Use aggregate supply and aggregate demand model to predict the effects of fiscal and monetary policy actions on output, unemployment, and inflation. 3) Language, Philosophy and Culture FCA 40 Interdisciplinary Preparation and an Area of Application / Integration - focus on how ideas, values and beliefs and other aspects of culture express and effect human experience and exploration of ideas that foster intellectual creation in order to understand the human condition across cultures. 1. Explain the scarcity/choice problem existing throughout the world. 3. Utilize the basic demand and supply model to predict the effects of different market forces on equilibrium price and quantity 4. Identify the four market structures and their effects on firm behavior. 5. Explain the concept of market failure and the alternatives to market processes in resource allocations. 7. Use aggregate supply and aggregate demand to predict the effects of fiscal and monetary policy actions on output, unemployment, and inflation. 8. Explain the benefits and costs of international trade and the role of international trade in the U.S. economy. 4) American History FCA 60 Interdisciplinary Preparation and an Area of Application / Integration - focus on past events and ideas relative to the United States as well as focusing on the interaction among individuals, communities, states, the 5

6 nation, and the world considering how these interactions have contributed to the development of the United States and its global role. 1. Explain the scarcity/choice problem existing throughout the world. 2. Describe the economic system of the United States. 3. Utilize the basic demand and supply model to predict the effects of different market forces on equilibrium price and quantity. 6. Define and calculate gross domestic product, inflation rate, and unemployment rate. 8. Explain the benefits and costs of international trade and the role of international trade in the U.S. economy. Additional Note: It is, perhaps, worthy of an additional note that the THECB Course Descriptions for both HIST 1301 and HIST 1302 include a specific reference to economic change. Learning Outcome # 3 for both courses includes a specific reference to economic, cultural, and global forces. 5) Government / Political Science FCA 70 Interdisciplinary Preparation and an Area of Application / Integration - analysis of government institutions, political behavior, civic engagement and their political and philosophical foundations 2. Describe the economic system of the United States. 5. Explain the concept of market failure and the alternatives to market processes in resource allocations. 6. Define and calculate gross domestic product, inflation rate, and unemployment rate. 7. Use aggregate supply and aggregate demand to predict the effects of fiscal and monetary policy actions on output, unemployment, and inflation. 8. Explain the benefits and costs of international trade and the role of international trade in the U.S. economy. This concludes the compliance proposal for ECON 1301 and the justification for placement of ECON 1301 in the Component Area Option B) ECON 2301 This higher level principles course adds macroeconomic depth and aligns very well with the Foundational Component Area designated as Social & Behavioral Sciences. This course is currently in Tier Two / Self and Society of the present Core. Justification to continue this course in Tier Two / Social and Behavioral Sciences will follow below. On the THCB website the Foundational Component Area for Social and Behavioral Sciences is described as follows (underlines are ours) 6

7 Social/Behavioral Science focuses on the application of empirical and scientific methods that contribute to the understanding of what makes us human. Courses involve the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. We believe our higher level THECB approved ECON 2301 course description as provided below does align very well with the THECB description for the indicated Foundational Component Area Course Description: The principles of macroeconomics are presented. Economic principles are studied within the historical framework of classical, Keynesian, monetarist and alternative models. Emphasis is given to national income determination, money and banking, and the role of monetary and fiscal policy in economic stabilization and growth. Other topics include international trade and finance. (3 Lec.) Coordinating Board Academic Approval Number In particular the course description s emphasis on the principles level exploration of, the historical framework of classical, Keynesian, monetarist and alternative models and national income determination, money and banking, and the role of monetary and fiscal policy in economic stabilization and growth including international trade and finance aligns well with THECB s emphasis on, the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. Additionally, the ECON 2301 provides an even stronger, more in depth application of empirical and scientific methods that contribute to the understanding of what makes us human. We believe the ECON 2301 aligns very well with the following required THECB Core Objectives for this Component Area: a) Critical Thinking Skills, b) Communication Skills, c) Empirical and Quantitative Skills, and d) Social Responsibility Skills. We also believe the course aligns especially well with the Core Objective of Personal Responsibility Skills although this is not a required Core Objective in the Social and Behavioral Sciences Component at this time. a) Critical Thinking Skills alignment is provided by the following ECON 2301 THECB Learning Outcomes (Primary LO s below followed by Secondary LO s in square brackets) 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. 5. Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank. [3. Define and measure national income and rates of unemployment and inflation. 4. Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy.] 7

8 b) Communication Skills alignment is provided by the following ECON 2301 THECB Learning Outcomes (Primary LO s followed below by Secondary LO s in square brackets) 4. Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy. 7. Explain the mechanics and institutions of international trade and their impact on the macro economy. c) Empirical and Quantitative Skills alignment is provided by the following ECON 2301 THECB Learning Outcomes (Primary LO s followed below by Secondary LO s in square brackets) 3. Define and measure national income and rates of unemployment and inflation. [1. Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. 5. Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank.] d) Social Responsibility Skills alignment is provided by the following ECON 2301 THECB Learning Outcomes (Primary LO s below no secondary LO s for this Core Objective) 1. Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making. 7. Explain the mechanics and institutions of international trade and their impact on the macro economy. This concludes the compliance proposal for ECON C) ECON 2302 This higher level principles course adds microeconomic depth and also aligns very well with the Foundational Component Area designated as Social & Behavioral Sciences. This course is currently in Tier Two / Self and Society of the present Core. Justification to continue this course in Tier Two / Social and Behavioral Sciences will follow below. On the THCB website the Foundational Component Area 8

9 for Social and Behavioral Sciences is described as follows (once again the underlines are ours) Social/Behavioral Science focuses on the application of empirical and scientific methods that contribute to the understanding of what makes us human. Courses involve the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. We believe our THECB approved ECON 2302 course description (as follows) aligns very well with the THECB description for the indicated Foundational Component Area Course Description: The principles of microeconomics are presented. Topics include the theory of demand, supply, and price of factors. Income distribution and theory of the firm are also included. Emphasis is given to microeconomic applications of international trade and finance as well as other contemporary microeconomic problems. (3 Lec.) Coordinating Board Academic Approval Number The course description s emphasis on a principles level exploration of, the theory of demand, supply, price of factors, income distribution and theory of the firm and microeconomic applications of international trade and finance as well as other contemporary microeconomic problems aligns very well with THECB s emphasis on, the exploration of behavior and interactions among individuals, groups, institutions, and events, examining their impact on society and culture. Additionally - in the exploration and linking of the indicated topics, the ECON 2302 provides a continuation of the strong, in depth application of empirical and scientific methods that contribute to the understanding of what makes us human. We believe the ECON 2302 aligns very well with the following required THECB Core Objectives for this Component Area: a) Critical Thinking Skills, b) Communication Skills, c) Empirical and Quantitative Skills, and d) Social Responsibility Skills. We also believe the course aligns especially well with the Core Objective of Personal Responsibility Skills although this is not a required Core Objective in the Social and Behavioral Sciences Component at this time. a) Critical Thinking Skills alignment is provided by the following ECON 2302 THECB Learning Outcomes (Primary LO s below followed by Secondary LO s in square brackets) 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. 5. Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production. 9. Demonstrate the benefits of free trade using the concept of comparative advantage. 9

10 [4. Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue. 7. Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. 8. Describe governmental efforts to address market failure such as monopoly power, asymmetric information, externalities, and public goods.] b) Communication Skills alignment is provided by the following ECON 2302 THECB Learning Outcomes (Primary LO s below) 3. Summarize the law of diminishing marginal utility; describe the process of utility maximization. 6. Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis. c) Empirical and Quantitative Skills alignment is provided by the following ECON 2302 THECB Learning Outcomes (Primary LO s below followed by Secondary LO s in square brackets) 4. Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue. 7. Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. [1. Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making. 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. 3. Summarize the law of diminishing marginal utility; describe the process of utility maximization. 5. Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production. 6. Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis.] d) Social Responsibility Skills alignment is provided by the following ECON 2301 THECB Learning Outcomes (Primary LO s below no secondary LO s for this Core Objective) 1. Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making. 8. Describe governmental efforts to address market failure such as monopoly power, asymmetric information, externalities, and public goods. [9. Demonstrate the benefits of free trade using the concept of comparative advantage.] This concludes the compliance proposal for ECON

11 This concludes the Economics Curriculum Committee s response to Item 1) in Charge I. Our response to Item 2) follows below Item 2) Recommend which courses to exclude from Core Response: The Economics Curriculum Committee recommends that the following two courses be excluded from CORE 2014 at this time: A) ECON 1303 Consumer Economics and B) ECON 2311 Economics of Global Issues. Additional detail is provided below. A) ECON 1303 This course is being removed from the THECB s Academic Course Guide Manual at the end of the Academic Year. B) ECON 2311 This course has not been much in demand within the District up to this point. It does certainly have potential to grow in enrollment, but at this time the Economics Curriculum Committee does not believe it to be a candidate for inclusion in the Core This concludes the Economics Curriculum Committee s response to both Item 1) and Item 2) in Charge I Charge II: Assessment Plan for Core Objectives (as issued by the VP Council in its dated April 26, 2012 numbering added to facilitate our response) 1) Develop an assessment plan for each Core course your committee has recommended being included in Core These plans need to be completed and ready for implementation by August ) All core objective assessment plans will be evaluated using the VALUE rubrics. 3) Utilize the THECB map to appropriately align the recommended course(s) foundational component area with the required Core Objectives. Response for Charge II: Please Note: Item 3) just above was, we believe, extensively covered in Part I of this report which received a strong review by the CORE 2014 team as indicated in its of 11

12 January 4. The remainder of this section will, therefore, focus on Items 1) and 2) in Charge II above. As indicated in our Introduction on Page 1 of this report, a response to Charge II was not originally requested to be included in this February 1, 2013 report as best we understood the scheduling. However, after confirming the solid progress we had made on Charge I during 2012, it was requested by CORE2014 in that January 4 feedback that we also provide an update on our progress with the development of our Assessment Plan. This update of our progress on Items 1) and 2) in Charge II is provided below. At this time we are continuing to explore several options, each of which would include the use of the VALUE Rubrics to design the assessment our four required Core Objectives (CT, COM, EQS and SR). Each option would include the assessment of the Core Objectives within the assessment of the THECB Learning Outcomes for each course. One option in particular seems to provide several benefits. This approach, concisely stated, allows us to make use of a common theme that runs through the Learning Outcome # 1 in all three of our candidate courses. The common theme mentioned just above is the requirement for a student to: Explain the problem of relative scarcity existing throughout the world and explain the role that relative scarcity plays in making well thought out choices and decisions. There would seem to be an opportunity to adopt some common assessment items across the District for the three primary Learning Outcomes that contain this theme and the Core Objective skills that can be demonstrated within the assessment of those LO s. The common theme existing in Learning Outcome # 1 in all three of our candidate courses provides the following opportunities for assessment of the skills required by the four Core Objectives: 1) Critical Thinking Skills - depending on the level of the course in our Curriculum Assessment Map (Introduction, Reinforcement/Enhancement or Advanced) the assessment of some (underlines for the Introduction course), many or all of the skills in CT ( creative thinking, innovation, inquiry, and the analysis, evaluation and synthesis of information ) could be included in the assessment of LO # 1 in each course. Once again, the common theme in LO # 1 in each course is: Explain the problem of relative scarcity existing throughout the world and explain the role that relative scarcity plays in making well thought out choices and decisions 2) Communication Skills - the very first word in the Learning Outcome # 1 in all three of our candidate courses is: Explain. This would seem to provide within the Assessment of LO # 1 a very explicit opportunity to assess some, many or all of the elements contained in this Core Objective ( effective development, interpretation, and expression of ideas through written, oral and visual communication. The element of written communication is underlined here because it was emphasized in the Course Mapping that was initiated during the District Curriculum meeting in Spring

13 The visual communication element is underlined above because of the strong tradition in the economics discipline of using diagrams and graphs to enhance the communication of both concepts and data. Example: Explicitly stated in the THECB LO # 1 for the two Principles courses (and implicit in the Introduction course) are the quantitative concepts of opportunity cost and cost / benefit analysis. Both of these concepts are communicated visually in what is probably the most basic diagram used in economics courses, the Production Possibilities Graph. 3) Empirical and Quantitative Skills as highlighted in the paragraph just above, the LO # 1 concepts of opportunity cost and cost / benefit analysis are both inherently Quantitative can be Empirical and are traditionally assessed in that manner. This would seem to provide within the assessment of LO # 1 a very explicit opportunity to create some common grading rubrics and some common assessment items covering the elements in this Core Objective: the manipulation and analysis of numerical data or observed facts that results in informed conclusions. In sequence then, it is the informed conclusions that help to provide the well thought out choices and decisions highlighted in the common theme. 4) Social Responsibility Skills there are a number of concepts and defining elements in the extended list of our Learning Outcomes that also allow the assessment of Social Responsibility Skills. These include concepts and defining elements such as: throughout the world, alternative economic systems, market failure, alternatives to market processes, unemployment rate, and benefits and costs of international trade to name a few. These are indicative of the need for students to demonstrate the following Social Responsibility skills: intercultural competence, knowledge of civic responsibility and ability to engage effectively in regional, national, and global communities. The concepts and defining elements highlighted above as a sample would seem to provide within the assessment of our LO s a number of opportunities to adopt some common assessment items and some common grading rubrics covering the skills highlighted in this Core Objective Please Note: Although it has been highlighted above that the assessment of the LO #1 in all three of our candidate courses provides a major opportunity to assess each of the Core Objectives at some level, it should be stated that additional opportunities to assess the CO s exist as well within the remaining LO s in all three courses Given the common theme that runs through Learning Objective # 1 in each course and the potential to assess the Core Objectives within this LO, the potential for a pathway and build-up approach in our Assessment Plan from one economics course to the next would seem to be favorable. That is, consistent with the Core Mapping for our courses 13

14 that was completed in Spring 2013 (specifically for Critical Thinking and Written Communication), it would seem that many of our students can increase their potential for success (and/or their level of success) on assessments that maintain and enhance academic rigor by using the pathway approach provided through the Component Area Option. Also regarding the concept of pathways to success it was highlighted in our response to Charge I that the ECON 1301 course also serves very well as an Interdisciplinary Preparation and as an Area of Application and Integration for courses in five other Foundation Component Areas: 1) Communication, 2) Mathematics, 3) Language, Philosophy and Culture, 4) American History, and 5) Government / Political Science. For alignment purposes the additional information regarding the nature of the Interdisciplinary Preparation and the Areas of Application / Integration provided by ECON 1301 were indicated on Pages 4 through 6 of this report. The essentials from the descriptions of those five Foundation Component Areas were provided and those were aligned with the related ECON 1301 Learning Outcomes (appropriate underlining was provided to highlight those alignments) Summary of Response for Charge II: At this time we are continuing to explore the possibilities described above to assess the required Core Objectives for our three candidate courses. This would seem to be done most effectively and efficiently as indicated above within the assessment of the Learning Outcomes for each course. Learning Outcome #1 in each course was used as an example and, in fact, does allow the assessment of elements of all four of the required Core Objectives This concludes at this time our update on progress with Charge II Once again, the Economics Curriculum Committee would like to thank the Core Curriculum Review Committee, the Core Curriculum Steering Team and the VP Council for their leadership, time and energy put forth in this endeavor. We very much appreciate the opportunity to be a part of the planning for the new Core Please do contact us if there are any questions or we may be of any additional assistance in this process. For the Economics Curriculum Committee, Randy Methenitis Chairperson

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