Learning Outcomes Relationships

PLO 1: Contrast and apply various human resource management concepts and theories to the recruiting, interviewing and hiring of individuals for employment.

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.

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

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 8: Describe the aggregate demand – aggregate supply model and differentiate between short run and long run.

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.

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