Revised Student Learning
Assessment Plan
Economics and Management Major
Fall 2007
The
mission statement for the economics and management major is made with reference
to Wells College Mission Statement (p.8, 2006-2007 Catalog), Wells’
Institutional Goals (p.30, 2006-2007 Catalog), and Academic Program Goals
(p.30, 2006-2007Catalog).
The
goal of the economics and management major is to provide students with thorough
knowledge of basic principles, methods of inquiry and awareness of contemporary
issues in economics and business. Individual and business decision-making is
presented in domestic, global, and natural contexts aimed at developing
students’ intellectual curiosity, and analytical and critical capabilities. The
curriculum includes core theory courses, cognates emphasizing quantitative
skills, and electives in specific fields of the discipline with the conviction
that a basic knowledge of economic and business decision-making is essential
for numerous purposes. This major is multidisciplinary by nature, serving the
needs of other majors including International Studies, Environmental Studies,
Public Affairs, and Mathematical and Physical Sciences.
Program Goals of the
Economics and Management Major
The
program goals are aimed at students to:
2. Become aware of a broad and diverse array of economic and business
theories, issues and concerns, and examine underlying policy implications;
3. Develop and foster
intellectual curiosity and analytical and critical capabilities with attention
to abstract and applied reasoning skills to think logically.
4. Develop quantitative skills
and problem-solving abilities to comprehend and analyze mathematical and
statistical reasoning. The department requires a course in statistics and first
semester calculus as a minimum. Students who wish to pursue graduate school are
encouraged to take three semesters of calculus, linear algebra and probability
theory.
5. Develop the ability to speak
and communicate effectively with reasoning, critical analysis and valid arguments.
Student presentations are a regular part of most upper-division courses, and a
question and answer format is used in all classes.
6. Develop an awareness of the
global community environment and foster sensitivity to economic, social, biological
and cultural diversity. Several courses such as Economics of Less Developed
Countries (ECON 350), The Political Economy of Globalization (ECON 385), Environmental Economics (ECON 320), and
Ecological Economics (ECON 325), Public Finance and Public Policy (ECON 304),
Economics of Health and Medical Care (ECON 333) and International Business
(MGMT 220) specifically shed light on these various issues.
7. Achieve adequate tools and skills that would enable a graduate to
successfully obtain professional employment in the private or public sector, or
acceptance into a reputable graduate program.
8. Achieve appropriate academic content and rigor comparable to any
reputable undergraduate institution;
9. Become
informed citizens who can independently think and study economic and business
topics
and who can effectively share their perspectives, results and implications
from
such
study.
Learning Objectives
(Outcomes That Determine Whether the Goals Have Been Achieved)
Students
who meet the above goals are expected to:
1. Be proficient in both qualitative and quantitative skills
necessary to examine economic and business issues and solve underlying
problems.
2.
Be capable of critically evaluating scholarly literature and research
on the economy and business.
3.
Be able to think rationally, critically and analytically about
important economic issues and problem-solving.
4.
Be proficient in the fundamental field and computer skills needed for
research, analysis and estimation of results.
5.
Be able to understand the mathematics of the connection between
economic systems and business environment, and be able to move smoothly between
the domains of formal modeling and verbal interpretation.
6.
Be able to analyze a complex global economic issue in a multi-faceted
manner that incorporates economics, biophysical aspects, politics, culture,
tradition and value-related components of the issue.
7.
Gain the ability to work independently as well as collaboratively on a
given economic and business topic, problem or question.
8.
Be capable of preparing and delivering an oral presentation that is
clear, well-reasoned and meaningful.
Assessment of Outcomes: How
to Measure?
Assessment
of outcomes will take place through various means as stated below.
1. Fulfill rigorous set of prerequisites: MATH 111: Calculus I; MATH 151: Elementary Statistics; and MATH 251: Probability and Statistics I. These are completed by the Junior year.
2.
Examinations, quizzes, homework sets, and projects which demonstrate
integration of quantitative and written logic, and analytical and critical
thinking skills.
3.
Written work, e.g., term papers, essays, position papers, etc. to
demonstrate scholarly knowledge, research capability and awareness of
contemporary issues in the field. Students are expected to understand the departmental
“Guidelines for Research Papers” provided to them with relevant course syllabi.
4.
Class presentations, discussions and debates to demonstrate verbal
skills and technological competence, to communicate reasoned point of view, and
engage in collaborative practices in the classroom.
5. Performance in internships (both general and special internships, e.g., Corporate Affiliate and Kaufman). Internships are administered in all 4 years of study, Freshman through Senior year. Interns’ written work (e.g., paper, journal, project, etc.) and on-site sponsor ratings are indicators of achievement.
6.
Comprehensive Exam: A six hour written examination (given in two
separate three-hour sessions) is taken in the spring semester of the senior
year. Questions and problems on the exam test material from the core foundation
courses that all majors take and evaluate the basic skills necessary for
college level study of the field.
7.
Senior Thesis Project: All students in the major conduct an independent
project under the guidance of an economics and management faculty as required
under Senior Seminar course, demonstrating original research, estimation of
results and their analysis, and reaching policy implications.
8.
Oral Presentation: All students are required to present their senior
thesis work to the Wells community.
9.
Performance of students after graduation: job placement and graduate
school placement rates.
Criteria for Success
The
following will be used as standards for the assessment outcomes listed above.
1. Course grades: Economics and management majors should earn
grades of “C” or better in courses that constitute the major curriculum. A
grade of C reflects at least a superficial descriptive sense of how the economy
operates.
2.
Senior thesis project: Economics and management majors should design
and execute an original research project. The project must include a clear
thesis statement, a literature review, the gathering an interpretation of
empirical evidence, and a conclusion. The quality of the project is assessed
quantitatively in the final grade assigned for the senior seminar course.
3.
Oral presentation: Economics and management majors should deliver a
senior thesis presentation to the Senior seminar class. Subsequently they must
deliver a revised presentation to the Wells community that is judged to be
satisfactory by the Major faculty.
4.
Comprehensive exam: Majors should earn a satisfactory grade in this
exam. A grade of “Pass” or a “Pass with Distinction” is assigned based on
students’ performance in this exam.
5.
Employment after graduation: Graduates’ job placement and occupational
success should be an indicator of assessment outcome. These data are kept on
the department level whenever possible, and should be kept on the institutional
level, for example by the alumnae office.
6.
Graduate school placement and completion rates should a benchmark for
assessment outcome. These data are partially compiled on the department level
and should be kept institutionally.
Evaluation of Assessment
Economics
and management faculty will meet annually in the spring semester to evaluate
assessment outcomes. The faculty will go over assessment outcomes from the
previous year in order to overview student performance in each of assessment
areas presented above. This can be accomplished by using devices such as
transcripts, records of student performance in certain course elements, samples
of senior thesis projects and comprehensive exams, discussion of senior thesis
oral presentations, and evidence of graduates’ performance in employment and in
graduate schools. Success in graduates’ employment careers and in graduate
schools should become apparent in 3 to 5 years after the graduation of a
student. The Office of Alumni Relations will be called upon to furnish us with
information in this regard.
Our
annual meeting will provide us with an opportunity to review all aspects of
student performance stated above under assessment of outcomes. Examined
individually and collectively, the assessment tools should help us evaluate
whether our graduates can think, act and communicate as well-informed,
intelligent citizens on economic and business issues, principles, methods and
policies.