Learning Outcomes Relationships

PLO 1: Contrast and apply various management concepts and theories to address and resolve organizational challenges and problems.\n\n

CLO 4: Define and explain the nature of the business cycle.
CLO 5: Recognize the determinants of important macroeconomic variables including the level of income and employment, the unemployment rate, the natural rate of unemployment, the price level, productivity and interest rates.
CLO 13: Develop an understanding of comparative advantage and the global economy.

PLO 2: Distinguish between and analyze the multiple (economic, financial, legal, international, and social) components of business.

CLO 3: Explain scarcity and opportunity cost.
CLO 6: Describe the Federal Reserve System and monetary policy including how its actions impact the supply and demand for money.
CLO 7: Evaluate the effects of fiscal policy include the effects of the federal governments budget deficit and monetary policies on the US economy.

PLO 3: Construct and utilize effective documents and presentations using technology.

CLO 9: Construct (via pencil & paper and/or via computer or other electronic tool) and interpret graphs to explain the law of supply, the law of demand, and how market equilibrium is determined. Will be able to identify equilibrium quantity and price and compute market shortages and surpluses.
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.
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.

History