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
2
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
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.
Direct Measures
Econ 455 final grades
Econ 499 research project grades
Indirect Measures
Exit Survey self-evaluation question
Econ 398 Employer Internship Survey
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
Exit Survey self-evaluation question
Econ 398 Employer Internship Survey
Faculty Survey
3
4. Graduates will lead, accept responsibility, and work effectively as team members within an
organization.
Direct Measures
Econ 453 teamwork assessment
Indirect Measures
Exit Survey
Econ 398 Employer Internship 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
Econ 398 Employer Internship Survey
Faculty Survey
4
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)
Distinguished Proficient Developing Unsatisfactory Sum
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)
Distinguished Proficient Developing Unsatisfactory Sum
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
Distinguished Proficient Developing Unsatisfactory Sum
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)
Distinguished Proficient Developing Unsatisfactory Sum
63.2% 14.9% 12.7% 9.2% 100.0%
5
4. All Questions on the Major Field Test: Proportion of All Questions where BYUI Average Score was
Distinguished Proficient Developing Unsatisfactory Sum
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.
Distinguished Proficient Developing Unsatisfactory Sum
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.
Distinguished Proficient Developing Unsatisfactory Sum
41.4% 55.2% 3.4% 0.0% 100.0%
Internship Survey
1. Employer Evaluation: The Intern was a problem solver.
Distinguished Proficient Developing Unsatisfactory Sum
47.6% 33.3% 14.3% 4.8% 100.0%
6
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.
7
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.
Direct Measures
Econ 455 final project grades
Distinguished Proficient Developing Unsatisfactory Sum
30.0% 40.0% 23.3% 6.7% 100.0%
Econ 499 research project grades
Distinguished Proficient Developing Unsatisfactory Sum
3.7% 63.0% 29.6% 3.7% 100.0%
Indirect Measures
Exit Survey self-evaluation question
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.
Distinguished Proficient Developing Unsatisfactory Sum
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?
Distinguished Proficient Developing Unsatisfactory Sum
27.6% 27.6% 31.0% 13.8% 100.0%
Internship Survey
1. Employer Evaluation: The intern was prepared to contribute immediately.
Distinguished Proficient Developing Unsatisfactory Sum
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).
8
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
Distinguished Proficient Developing Unsatisfactory Sum
31.0% 31.0% 20.7% 17.2% 100.0%
Econ 499 final research presentation and research paper
Distinguished Proficient Developing Unsatisfactory Sum
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.
Distinguished Proficient Developing Unsatisfactory Sum
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.
Distinguished Proficient Developing Unsatisfactory Sum
24.1% 65.5% 10.3% 0.0% 100.0%
Internship Survey
1. Employer Evaluation: written communication skills.
Distinguished Proficient Developing Unsatisfactory Sum
38.1% 38.1% 16.7% 7.1% 100.0%
9
2. Employer Evaluation: verbal communication skills.
Distinguished Proficient Developing Unsatisfactory Sum
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.
Distinguished Proficient Developing Unsatisfactory Sum
16.7% 49.7% 24.3% 9.3% 100.0%
2. General assessment of oral communication skills by students in 300 & 400-level classes.
Distinguished Proficient Developing Unsatisfactory Sum
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.
10
4. Graduates will lead, accept responsibility, and work effectively as team members within an
organization.
Direct Measures
Econ 453 teamwork assessment: new for 2014
Distinguished Proficient Developing Unsatisfactory Sum
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?
Distinguished Proficient Developing Unsatisfactory Sum
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)
Distinguished Proficient Developing Unsatisfactory Sum
44.8% 44.8% 10.3% 0.0% 100.0%
1. Employer Evaluation: The intern worked well in a team.
Distinguished Proficient Developing Unsatisfactory Sum
59.5% 21.4% 14.3% 4.8% 100.0%
2. Employer Evaluation: The intern demonstrated leadership qualities and capability.
Distinguished Proficient Developing Unsatisfactory Sum
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.
11
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.
Distinguished Proficient Developing Unsatisfactory Sum
44.8% 48.3% 6.9% 0.0% 100.0%
Internship Survey
1. Employer Evaluation: The intern was ethical and acted with integrity.
Distinguished Proficient Developing Unsatisfactory Sum
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
Distinguished Proficient Developing Unsatisfactory Sum
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.
12
Summary Statistics
Distinguished Proficient Developing Unsatisfactory Sum
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