Understanding of macroeconomic policy and the elements of the controversy between those advocating policy rules or discretion. Understanding of welfare economics, i.e., how economists address questions of policy where the presences of transaction costs, lack of property rights and externalities may require governmental intervention. Understanding of the historical background of the institutions and cultural, economic, political, social forces leading to contemporary views on major economic topics. Majors can communicate this understanding to others. Majors have developed and can use economics terminology.
Majors can access sources of information and data.
Majors understanding research design. This means that majors can design and carry out a research design to test a hypothesis. Majors have data acquisition skills. Majors can draw inference from information and can analyze data presented. Majors have problem solving skills.