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Course/Departmental Assessment Report for Instruction Please complete a form for each course. 1) Date: 9/20/2011 2) Contact Person: Vikki Piper 3) Department: Econ 4) Course Name and Number: Econ 1A 5) Assessed Course SLO(s): A. Define scarcity and how it relates to the concepts of choice and cost. B. Describe price and quantity changes that occur when supply and demand change. C. Compare and contrast Keynesian and Classical economic theory. D. Explain Monetary and Fiscal policy and their respective influences on the business cycle. E. Understand the relationship between leading economic indicators and economic performance. 6) Describe your assessment timeline, including a rationale for your decision: In Spring 2011 instructors from Madera, Willow, and Oakhurst collected data. This is our first set of data using the revised ECON 1A SLOs. 7) Institutional Outcome Alignment: Which institutional outcome(s) is central to your course? X Communication Skills X Interpret various types of written, visual, and verbal information. Organize ideas and communicate precisely and clearly to express complex thoughts both orally and in writing. Critical Thinking and Information Literacy Analyze quantitative information and apply scientific methodologies. Employ critical and creative modes of inquiry to solve problems, explore alternatives, and make decisions. Synthesize researched information obtained from accurate, credible, and relevant sources to support, advance, or rebut an opinion. Approved by College Council December 9, 2009 X Global and Community Literacy Analyze the fine arts, humanities, and social sciences from cultural, historic, and aesthetic perspectives. Apply historical and contemporary issues and events to civic and social responsibility. Demonstrate sensitive and respectful treatment of a variety of ethnic, religious, and socioeconomic backgrounds. Personal Development Assess current knowledge, skills, and abilities to further develop them and apply them to new situations. Incorporate physical and emotional principles to make healthy lifestyle choices. Make ethical personal and professional choices. 8) Assessment Assignments and/ or Instruments: Which were used to assess the SLO? X Item analysis of exams, quizzes, problem sets, etc. (items linked to specific outcomes) Assignments based on rubrics (essays/ reports, projects, performances, presentations, etc.) Assignments based on checklists Direct observation of performances, structured practice or drills, “practical” exams, small group work, etc. Student self-assessments (e.g. reflective journals, surveys) Classroom Assessment Techniques (CATS, “clicker” mediated responses, etc.) Capstone projects or final summative assessment (final exams, capstone projects, portfolios, etc.) Other (please describe) 9) Please attach any instruments used for assessment (rubrics, checklists, surveys, etc.). See below. 10) What is your expected level of achievement for measuring success? 70% Approved by College Council December 9, 2009 11) Assessment Results: What did members of your program learn from the assessment of the outcome? Did the assessment work, and if not, what needs to be revised? SLO A: SLO B : SLO C: SLO D: SLO E: 78% of the students were successful with the assessment. 75% of the students were successful with the assessment. 59% of the students were successful with the assessment. 72% of the students were successful with the assessment. 77% of the students were successful with the assessment. The SLO assessments were successful for all of the outcomes except SLO C, Compare and contrast Keynesian and Classical economic theory. It was decided that question C2 for this SLO needs to be re-worded and Keynesian and Classical economic theories re-enforced. Also, all instructors agreed that the assessments should be part of a graded assignment. This graded assignment would preferably be given to coincide with the lectures on these topics. 12) Action Plan: Based on the assessment results, what changes, if any, are planned to increase student success? When will they be implemented? Please check any appropriate boxes and provide a brief description with a timeline for changes. Results are positive—no changes to be made X Conduct further assessment related to the issue and outcome ECON 1A will be re-assessed in Spring 2012. X Use new or revised teaching methods (e.g., more use of group work, new lecture, etc.) Keynesian versus Classical economic theories will be re-enforced through readings, lecture, and assessments. Develop new methods of evaluating student work Plan purchase of new equipment or supplies needed for modified student Activities Make changes in staffing plans (e.g., modified job descriptions, requests for Approved by College Council December 9, 2009 new positions, etc.) Engage in professional development about best practices for this type of class/activity Revise the course sequence or prerequisites Revise the course syllabus or outline (e.g., change in course topics) Unable to determine what should be done X Other: The assessments will be made as part of a graded assignment. Provide a brief description with a timeline for changes: Question C-2 will be re-worded in Fall, 2011. All ECON 1A SLOs will be re-assessed in Spring 2012 and will be part of a graded assignment. Beginning Spring 2012, Keynesian and Classical economic theories re-enforced. Approved by College Council December 9, 2009 ECON 1A: Macroeconomics SLO Assessments OUTCOME A: Define scarcity and how it relates to the concepts of choice and cost. A-1. Which of the following best describes scarcity? a. Markets cannot properly allocate resources b. Prices of goods are very high c. Unlimited wants exceed the limited resources available d. Wants cannot be fulfilled and thus all goods must be rationed A-2. Scarcity is central to the study of economics because it implies that: a. Society must make decisions at the margin b. Wants are limited c. Economic agents are rational d. Every choice involves an opportunity cost OUTCOME B: Describe price and quantity changes that occur when supply and demand change. B-1. If quantity demanded for a product exceeds the quantity supplied the market price will rise until: a. Only wealthy consumers will be able to afford the product b. Quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price. c. The quantity demanded equals the quantity supplied. The product will then no longer be scarce. d. Quantity demanded equals quantity supplied. The market price will then equal the equilibrium price. B-2. Complete the following statement. “When there is a shortage of a good….” a. Consumers complete against one another by bidding the price upward b. As prices increase, consumer demand more of a particular good c. As prices increase, producers are driven to produce less d. Producers react to shortages by lowering prices e. Decreasing prices lead to a change in demand Approved by College Council December 9, 2009 ECON 1A: Macroeconomics SLO Assessments OUTCOME C: Compare and contrast Keynesian and Classical economic theory. C-1. Which of the following statements would be associated with Keynesian economics? a. Economic problems can best be addressed by reducing taxation and regulation and thus increasing incentives to save and invest. b. Because wages and prices are sticky and it can take a long time for the economy to return to full employment, the government should intervene in the macroeconomy c. Because there are significant lags in recognizing and implementing activist policies, the best government policy is nonintervention. d. Since expectations are rational, anticipated policy changes will have no effect on real output and only “surprises” matter. C-2. Which of the following statements would be associated with new classical economics? a. Because wages and prices are sticky and it can take a long time for the economy to return to full employment, the government should intervene in the macroeconomy b. Because there are significant lags in recognizing and implementing activist policies, the best government policy is nonintervention. c. Economic problems can best be addressed by reducing taxation and regulation and thus increasing incentives to save and invest. d. Since expectations are rational, anticipated policy changes will have no effect on real output and only “surprises” matter. Approved by College Council December 9, 2009 ECON 1A: Macroeconomics SLO Assessments OUTCOME D: Explain Monetary and Fiscal policy and their respective influences on the business cycle. D-1. Which of the following statements is most accurate regarding fiscal policy and monetary policy? a. Fiscal policy includes changes in government spending and taxes and is controlled by the Federal Reserve. Monetary policy includes changes in the money supply and interest rates and is controlled by the federal government. b. Fiscal policy includes changes in government spending and taxes and is controlled by the federal government. Monetary policy includes changes in the money supply and interest rates and is controlled by the Federal Reserve. c. Fiscal policy includes changes in government spending and interest rates and is controlled by the federal government. Monetary policy includes changes in the money supply and taxes and is controlled by the Federal Reserve. d. Fiscal policy includes changes in interest rates and taxes and is controlled by the federal government. Monetary policy includes changes in the money supply and government spending and is controlled by the Federal Reserve. D-2. If the economy is slipping into a recession, which of the following would be an appropriate fiscal policy? a. A decrease in taxes b. An increase in the money supply and a decrease in interest rates c. A decrease in government purchases d. A decrease in oil prices OUTCOME E: Understand the relationship between leading economic indicators and economic performance. E-1. If aggregate demand just increased, which of the following may have caused the increase? a. An increase in imports b. An increase in the interest rate c. An increase in the price level d. An increase in government purchases E-2. Which of the following events would cause an increase in short-run aggregate supply? a. An improvement in technology b. A decrease in the price level c. An increase in consumption d. An decrease in the labor force Approved by College Council December 9, 2009