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ECONOMICS DEPARTMENT ASSESSMENT

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					                   ECONOMICS DEPARTMENT ASSESSMENT

                                       OVERVIEW

The goals of the Department of Economics, as listed in the Department handbook, are:

A. to provide excellence in instruction in both the undergraduate and graduate programs;

B. to engage in research and scholarship that contributes to the understanding of theory
and practice in all appropriate Departmental disciplines;

C. to enhance the local, national, and international visibility of the Department, College,
and University through participation in professional activities and service, internal and
external to the University; and

D. to interact and cooperate with businesses, governments, and nonprofit agencies for
mutual benefit through the exchange of knowledge and expertise.

The Department of Economics has had the attainment of these goals as its mission, and
the Department believes this will continue to be its mission in the future.

The Department offers an undergraduate major in the College of Business and in the
College of Arts and Sciences. It also offers a minor in Economics in both colleges. The
Department offers an MA in economics and two minors in the Ph.D. in Business
Administration.

The Principles of Microeconomics and Principles of Macroeconomics classes the
Department offers are required courses for all undergraduate business majors, and many
other undergraduate programs across campus require one or both of these classes. Since
these classes are LERs, many students who are not required to take these classes for their
major or minor take these classes. The Department offers an honors section of each of
these classes. The Department also offers an honors section of The Economics of
Poverty. At the upper division level majors such as Business Management and
International Relations also require students to take an economics class as part of their
program.

Two of the Department’s courses, Business Conditions Analysis and Managerial
Economics, are required in the MBA and EMBA programs. Ph.D. in Business students
are required to take either Microeconomic Theory or Macroeconomic Theory. Many
Ph.D. in Business students take the sequence of econometrics classes the Department
offers. The Department also offers a required class, Economics of Information, in the
IAKM program and will be offering a required class, Time Series Analysis, in the
Financial Engineering MA program, which it is expected will have its first class of
students in the 2002-3 academic year.
In addition to the graduate students taking economics classes as a requirement many
graduate students from programs such as the MBA, Political Science, Geography, etc.
also take economics classes as part of their program.

In each of the last two semesters, this fall and last spring, the Economics Department had
over 1850 students registered in its classes. Most of these were in the two principles
classes. The Economics Department has 33 majors, about half in Arts & Sciences and
half in Business. There are 13 MA in economics students.

The resources that the Department of Economics has to meet these demands is nine
tenured/tenure-track faculty, a Chair, a part-time budget of $5,330, and a budget
allocation of $13,000 in recent years from the Evening/Weekend Program. The
tenured/tenure-track faculty have Ph.D.s from very distinguished Ph.D. programs
throughout the country. The part-time faculty have either an MA in Economics or a
Ph.D. in Economics.

The Department secretary is the only support staff. One resource for the Department that
should be noted is its retired faculty. The Department has a very dedicated and helpful
group of emeriti faculty that have been very willing to help in any way they can when the
Department has asked for assistance.

The Department’s competitive situation varies with its different courses and programs.
At the undergraduate level the Department’s major and minor primarily compete with the
other majors and minors offered by Kent State University. The Department’s individual
courses also compete with courses offered by other Kent State University departments.

At the graduate level the Department’s MA competes with other MA programs in
economics in the region and also throughout the country and even throughout the world
at least as far as international students. At the Ph.D. level the Department’s minors
compete with other minors in the Ph.D. in Business. Individual graduate courses offered
by the Department compete with graduate courses offered by other departments at Kent
State University.

The Department’s key opportunities are to expand its various degree programs, its major,
its minor, and the MA in economics. The Department could increase the number of
students in these programs to a limited degree without impacting the quality of its
programs.

The Department’s key vulnerability is that it does not have enough faculty resources to
meet its various obligations in the manner it would prefer to. The Principles sections are
much larger than the Department would prefer for optimal teaching. Also the
Department would like to be able to offer additional upper-division electives to its
undergraduate students and additional graduate electives. The Department cannot do so
with its present faculty resources.