Learning Outcomes Relationships

PLO 1: Apply accounting theories and principles to a wide array of business transactions to effectively develop financial records and models.

CLO 1: Describe how economics is a social science that draws conclusions based on hypotheses, theories and data to understand and predict human behavior.
CLO 3: Explain scarcity and opportunity cost.
CLO 4: Define and explain the nature of the business cycle.
CLO 6: Describe the Federal Reserve System and monetary policy including how its actions impact the supply and demand for money.
CLO 8: Describe the aggregate demand – aggregate supply model and differentiate between short run and long run.
CLO 12: Use economic reasoning to develop logical conclusions by critically analyzing data and applying marginal costs/marginal benefits analysis to various economic and noneconomic activities.

PLO 3: Formulate professional opinions and guidance by analyzing accounting data using critical thinking and ethical guidelines.

CLO 4: Define and explain the nature of the business cycle.
CLO 10: Compute (via pencil & paper and/or via computer or other electronic tool) domestic output (Gross Domestic Product) using the expenditures and income approaches. Demonstrate an understanding of National Income and other national income accounts.

History