Program Outcomes and Assessment B.S. Financial Economics

B.S. Financial Economics December 15, 2015

Program Outcomes [University Outcomes](Courses)

1. Graduates will demonstrate well-developed analytical skills, specifically in terms of critical reasoning

and technical expertise. [3, 5] (B 401, B 410, B 411, Econ 150, Econ 151, Econ 215, Econ 255, Econ

278, Econ 300, Econ 330, Econ 357, Econ 358,Econ 380, Econ 381, Econ 388, Econ 440, Econ 444,

Econ 450, Econ 453, Econ 455, Econ 463, Econ 475, Econ 476, Econ 499)

2. Graduates will conduct technical research that is relevant for employment in financial markets,

treasury management, insurance underwriting or banking, or for further education in an MBA

program, if desired. [5] (B 401, B 410, B 411, Econ 255, Econ 300, Econ 330, Econ 357, Econ 358,

Econ 380, Econ 381, Econ 388, Econ 440, Econ 444, Econ 450, Econ 453, Econ 455, Econ 463, Econ

475, Econ 476, Econ 499)

3. Graduates will demonstrate professional written and verbal communication skills that allow them to

present the results of their analysis and research in a clear and convincing manner. [4] (Econ 255,

Econ 300, Econ 330, Econ 357, Econ 358, Econ 380, Econ 381, Econ 388, Econ 440, Econ 444, Econ

450, Econ 453, Econ 455, Econ 463, Econ 475, Econ 476, Econ 499)

4. Graduates will lead, accept responsibility, and work effectively as team members within an

organization. [1] (Econ 150, Econ 151, Econ 215, Econ 255, Econ 278, Econ 300, Econ 330, Econ 357,

Econ 358,Econ 380, Econ 381, Econ 388, Econ 440, Econ 444, Econ 450, Econ 453, Econ 455, Econ

463, Econ 475, Econ 476, Econ 499)

5. Graduates will apply the restored gospel of Jesus Christ as the pattern for behaving in responsible,

informed, legal, ethical, and moral ways in their family, the Church, employment, and community.

[1, 6] (Econ 150, Econ 151, Econ 215, Econ 255, Econ 278, Econ 300, Econ 330, Econ 357, Econ

358,Econ 380, Econ 381, Econ 388, Econ 440, Econ 444, Econ 450, Econ 453, Econ 455, Econ 463,

Econ 475, Econ 476, Econ 499)

Program Outcomes and Assessment

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Assessment Plan

1. Graduates will demonstrate well-developed analytical skills, specifically in terms of critical

reasoning and technical expertise.

Direct Measures

Econ 300 course grades

Econ 388 final exam & final project grades (Index)

Major Field Test scores

Indirect Measures

Exit Survey

Econ 398 Employer Internship Survey



program, if desired.

Direct Measures

Econ 455 final grades

Econ 499 research project grades

Indirect Measures

Exit Survey self-evaluation question


3. Graduates will demonstrate professional written and verbal communication skills that allow them

to present the results of their analysis and research in a clear and convincing manner.

Direct Measures

Econ 453 written project grade

Econ 499 final research presentation and research paper

Indirect Measures



Faculty Survey

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organization.

Direct Measures

Econ 453 teamwork assessment

Indirect Measures

Exit Survey


5. Graduates will apply the restored gospel of Jesus Christ as the pattern for behaving in responsible,

informed, legal, ethical, and moral ways in their family, the Church, employment, and community.

Direct Measures

Indirect Measures

Exit Survey


Faculty Survey

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Assessment Data

The data collected as part of the Economics Department assessment plan is summarized below, organized by outcome. Each outcome is listed, followed by the associated data and a brief analysis of that data.

1. Graduates will demonstrate well-developed analytical skills, specifically in terms of critical

reasoning and technical expertise.

Direct Measures

Econ 300 course grades

Distinguished Proficient Developing Unsatisfactory Sum

27.5% 42.0% 18.9% 11.6% 100.0%

Econ 388 final exam & final project grades (Index)


8.5% 27.7% 40.4% 23.4% 100.0%

Major Field Test Scores

1. Analytical Questions on the Major Field Test: BYUI Average Score by Question (relative to other schools)


50.0% 20.6% 17.6% 11.8% 100.0%

2. Analytical Questions on the Major Field Test: Proportion of All Questions where BYUI Average Score was


5.9% 26.5% 29.4% 38.2% 100.0%

3. All Questions on the Major Field Test: BYUI Average Score by Question (relative to other schools)


63.2% 14.9% 12.7% 9.2% 100.0%

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4. All Questions on the Major Field Test: Proportion of All Questions where BYUI Average Score was


7.9% 23.6% 35.9% 32.6% 100.0%

5. Major Field Test: Other Measures

The 2014 comparative statistics provided by ETS show BYU-Idaho Economics and Financial Economics majors had average sub-scores as follows:

Overall & Sub-Categories

BYU-Idaho Average

Scores

Percent of Institutions with Average Scores

Below BYU-Idaho

Overall Score 166 86

Microeconomics 67 86

Macroeconomics 65 89

Quantitative Analysis 57 84

International Issues 59 93

Indirect Measures

Exit Survey

1. Quantitative Analysis: Your experience at BYU-Idaho prepared you to analyze and draw conclusions from data.


31.0% 62.1% 6.9% 0.0% 100.0%

2. Problem Solving: Your experience at BYU-Idaho prepared you to identify problems and opportunities and develop a framework to identify and evaluate alternatives and solutions.


41.4% 55.2% 3.4% 0.0% 100.0%

Internship Survey

1. Employer Evaluation: The Intern was a problem solver.


47.6% 33.3% 14.3% 4.8% 100.0%

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Performance Assessment: Students feel competent in their analytical skills and their scores from our course assessments seem to reflect that as well. Internship employers seem to concur for the most part. In addition, when compared to other students who take the national major field test, our students perform well above the national averages. However, if we look at their raw scores, rather than percentile rankings, their performance might suggest room for improvement. In addition, student scores on our assessments and the Major Field Test are lower on average than last year. They are unlikely to be significantly different (statistically speaking); however, this outcome continues a pattern of lower analytical skills over the past 2 years. Even though it is too early to determine any trends, the pattern is concerning.

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program, if desired.

Direct Measures

Econ 455 final project grades


30.0% 40.0% 23.3% 6.7% 100.0%

Econ 499 research project grades


3.7% 63.0% 29.6% 3.7% 100.0%

Indirect Measures


1. Problem Solving: Your experience at BYU-Idaho prepared you to identify problems and opportunities and develop a framework to identify and evaluate alternatives and solutions.


41.4% 55.2% 3.4% 0.0% 100.0%

2. Internship Experience: Were you able to make an immediate contribution to the company/agency?


27.6% 27.6% 31.0% 13.8% 100.0%

Internship Survey

1. Employer Evaluation: The intern was prepared to contribute immediately.


50.0% 33.3% 7.1% 9.5% 100.0%

Performance Assessment: Although we see very little change from the previous year’s report, there is a slight slide in performance. Indirect measures from our senior student and internship employer surveys suggest that our students are well prepared to perform research for employment and possibly graduate school. The direct measures from courses show that there is good performance, but room for improvement (as captured by both the Econ 300 and Econ 388 scores).

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3. Graduates will demonstrate professional written and verbal communication skills that allow

them to present the results of their analysis and research in a clear and convincing manner.

Direct Measures

Econ 453 written project grade


31.0% 31.0% 20.7% 17.2% 100.0%

Econ 499 final research presentation and research paper


3.7% 66.7% 25.9% 3.7% 100.0%

Indirect Measures

Exit Survey

1. Written Communication: Your experience at BYU-Idaho prepared you to use proper grammar and spelling in written communication, and to communicate in writing.


10.3% 82.8% 0.0% 6.9% 100.0%

2. Oral Communication: Your experience at BYU-Idaho prepared you to express ideas and opinions in a one-on-one, small group, or large group setting.


24.1% 65.5% 10.3% 0.0% 100.0%

Internship Survey

1. Employer Evaluation: written communication skills.


38.1% 38.1% 16.7% 7.1% 100.0%

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2. Employer Evaluation: verbal communication skills.


54.8% 19.1% 23.8% 2.3% 100.0%

Faculty Survey:

1. General assessment of written communication skills by students in 300 & 400-level classes.


16.7% 49.7% 24.3% 9.3% 100.0%

2. General assessment of oral communication skills by students in 300 & 400-level classes.


20.0% 46.7% 21.0% 12.3% 100.0%

Performance Assessment: Indirect measures from our senior student survey suggest that our students feel well trained in both written and oral communication skills. Other indirect measures obtained from internship employer surveys and the faculty survey show good performance, but lower than the student survey. The direct measures from courses show that there is good performance, but room for improvement. Overall, there is evidence from direct measures of a slight deterioration in both writing and oral communication performance from last year, even with the increased emphasis on writing. This pattern is consistent with the feeling of faculty members that our graduates are inadequately prepared in their oral and, more particularly, written communication skills. Given our efforts in this area, perhaps additional actions will be needed to obtain the improvements desired.

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organization.

Direct Measures

Econ 453 teamwork assessment: new for 2014


31.0% 31.0% 20.7% 17.2% 100.0%

Indirect Measures

Exit Survey

Internship Experience: Were you able to make an immediate contribution to the company/agency?


27.6% 27.6% 31.0% 31.8% 100.0%

Teamwork: Your experience at BYU-Idaho prepared you and your classmates to actively contribute and lead in a one-on-one, small group, or large group setting. (1 to 7 plus comments)


44.8% 44.8% 10.3% 0.0% 100.0%

1. Employer Evaluation: The intern worked well in a team.


59.5% 21.4% 14.3% 4.8% 100.0%

2. Employer Evaluation: The intern demonstrated leadership qualities and capability.


47.6% 26.2% 21.4% 4.8% 100.0%

Performance Assessment: Direct measures and indirect measures show that our students perform well in team-related, problem-solving activities. The Internship employer survey provided evidence that our senior students distinguish themselves as team players and to some degree, as leaders. In fact, employers felt that this group of students was more prepared as leaders compared to last year’s interns.

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5. Graduates will apply the restored gospel of Jesus Christ as the pattern for behaving in

responsible, informed, legal, ethical, and moral ways in their family, the Church, employment,

and community.

Direct Measures

Indirect Measures

Exit Survey

Gospel Centered Studies: Your experience at BYU-Idaho has prepared you to apply the restored gospel of Jesus Christ as the pattern for behaving in responsible, informed, legal, ethical, and moral ways in your family, the Church, employment, and community.


44.8% 48.3% 6.9% 0.0% 100.0%

Internship Survey

1. Employer Evaluation: The intern was ethical and acted with integrity.


83.3% 14.3% 2.4% 0.0% 100.0%

Faculty Survey: General observation of senior students following Christ-like behavior in language, dress and grooming standards, in-class interaction with fellow students, and in honest and responsible completion of assessments


57.0% 31.0% 7.0% 5.0% 100.0%

Performance Assessment: All indicators suggest that our senior students exhibit values consistent with our Mission Statement.

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Summary Statistics


Analytical Skills 31.4% 34.0% 19.9% 14.6% 100.0%

Research Skills 30.5% 43.8% 18.9% 6.7% 100.0%

Communication 24.8% 49.9% 17.8% 7.4% 100.0%

Lead & teamwork 42.1% 30.2% 19.6% 8.1% 100.0%

Ethics & Gospel 61.7% 31.2% 5.4% 1.7% 100.0%

Overall Score 38.1% 37.8% 16.3% 7.7% 100.0%

Distinguished: Excellent level of achievement; exceeds expectations

Proficient: Good level of achievement; meets expectations

Developing: Fair level of achievement; minimally meets expectations

Unsatisfactory: Low level of achievement; fails to meet expectations

Improvement Plan

From compiling and evaluating the assessment data, we can observe a number of strengths and challenges for our majors. In general, our economics majors are developing good analytical and research skills. They exhibit good capacity in team settings and can lead in those teams. Their actions in the classroom and in internship experiences are consistent with ethical standards and Gospel principles. However, there are two areas where, although performing well, our majors could improve. The first is in regards to their written and oral communication skills where about ¼ of our students either minimally meet expectations or perform at an unsatisfactory level. Second, almost 15 percent of our senior students fail to meet expectations for analytical skills and 20 percent are considered “Developing”. Direct measures alone indicate that these proportions are even larger. The greater concern is that this deficiency is increasing slightly (as compared to scores from the previous 2 reports). It will be something that the department may have to consider if the trend continues.

Our improvement plan continues to focus on improving written and oral communication skills. Although indirect measures from our senior student survey suggest that our students feel well trained in both written and oral communication skills, the direct measures from courses show that there is room for improvement. To this point, our increased emphasis is showing little impact. In fact, there may even be a slight deterioration in student performance. Additional actions may be needed to obtain the desired improvements.

University Outcomes (For Reference)

The purpose of a BYU-Idaho education is to help students to become 1. Disciple leaders

2. Lifelong learners

3. Creative and critical thinkers

4. Effective communicators

5. Skilled professionals

6. Engaged citizens

Documents

Program Outcomes and Assessment B.S. Financial Economics