Space Situation
Any assessment of the Department of Economics' teaching is impossible without an understanding of the department's space situation. Although still inadequate and a hindrance to the department's teaching effectiveness, the department's space has improved substantially during the last year.
From 1955 to 1992, Economics was located in Copeland Hall, where its inadequate space was listed as a reviewers' concern in the Five Year Review (1986-1990) approved by the UCC in 1993. In 1992, Economics was "temporarily" moved to Haning Hall, where it now occupies the entire second floor and one room of the first.
Following the move from Copeland, the department's space situation deteriorated. In a memo dated July 6, 1994, John Kotowski, director of facilities planning, stated that Economics should received 8,278 net square feet (nsf) according to the Board of Regents (BOR) formula. In November 1995, Institutional Research listed Economics' space as 4,908 nsf, which is about 60 percent of what is appropriate according to the BOR formula.
The move to Haning had several negative effects on Economics' teaching effectiveness that lingered until winter 1997. The department had no computer lab although computers are essential to both graduate and undergraduate teaching. Because Economics had no Haning classrooms, faculty members never taught near their offices, which reduced spontaneous interactions between faculty and students before and after classes. Graduate students had no place to gather and were therefore denied much of the fun of graduate education: interaction with fellow graduate students. Likewise, undergraduate economics majors had no gathering place and, except for advising, rarely entered Haning.
Since spring 1996, the quality, though not the quantity, of Economics' space has improved. A room on the first floor, Haning 110, was converted to a classroom and received better lighting and a chalkboard salvaged from Gordy Hall. Although not assigned to Economics, Haning 110 is now frequently used by the department.
Renovations completed during summer 1996 converted the labyrinth on the second floor into a computer lab, Haning 210, and a classroom, Haning 222. These renovations were paid for by Economics and the College of Arts & Sciences. The computer lab was equipped with 10 computers purchased with "Housebill" funds received via Arts & Sciences.
With Haning 110 and 222, available as classrooms, classes can be taught near faculty offices and near the department's computer lab. Haning 207--which seats only 15, but was until recently used as teaching space--has been converted to a multipurpose room where graduate and undergraduates can gather. The computer lab also allows for spontaneous and very positive interactions between students and faculty.
Though the department's space is still inadequate, the recent renovations have improved both student and faculty morale. The frequent out-of-class exchanges between students and faculty are reinvigorating teaching and starting to build a sense of community among students.
Setting Goals
Economics' goals for student learning were developed in spring 1996 by discussions among faculty, students, and alumni. These goals have not changed since last year, but the department is now committed to adding two new programs: an undergraduate major in the College of Communication and a new collaborative master's degree involving economics, accounting, and finance.
Goals for Undergraduate Student Learning
Economics' general goals for its undergraduate programs include the following:
Students will have a basic understanding of markets, market structures, and the world economy.
Students will have an understanding of basic research methodology including literature surveys, data gathering, data analysis, and policy implications.
Students will be familiar with basic data sources in both printed and electronic libraries.
Students will have a basic understanding of economic institutions such as the Federal Reserve, stock markets, and financial intermediaries.
Students will be prepared for master's-level studies in economics or related fields.
Students will be prepared for employment in the public and private sectors at levels appropriate for baccalaureate holders.
Goals for Principles Courses
ECON 103, Principles of Microeconomics, and ECON 104, Principles of Macroeconomics, serve two purposes. They are introductory courses for majors and they also are survey courses taken by most Ohio University undergraduates. For example, about 77 percent of Ohio University undergraduates take ECON 103. Economics' specific goals for ECON 103 and 104 include the following:
Students will have an understanding of economic principles and preparation for more advanced courses that build on these principles. Students will be exposed to basic analytical concepts such as supply and demand, elasticity, surplus, money, aggregate demand, international exchange, interest rates, and the differences between real and nominal variables. Students will have a basic understanding of economic institutions and markets.
Goals for ECON 305/201
Economics' service role includes providing part of the College of Business' undergraduate core curriculum. Until recently, this role was fulfilled by teaching ECON 305, Managerial Economics. The objectives for ECON 305 require that students integrate the material in the prerequisite courses: ECON 103, ECON 104, QBA 201, and MATH 163A. Students must solve complex problems requiring multiple steps and integrating information from several sources.
In the College of Business' new undergraduate curriculum, ECON 305 will be replace by ECON 201, Economic Analysis, an entirely new course, in spring 1998. ECON 201 will be team-taught as part of a module containing instruction in economics, QBA, MIS, and communication. Economics is committed to working on the team that will develop and offer this new module.
Goals for New Undergraduate Major
Economics is exploring the possibility of developing a new major in communication economics. This program would combine the core of a traditional economics major with a three course sequence in communication economics and additional courses from communication systems management and other schools within the College of Communication. Discussions about the proposed new program have just begun.
Goals for Graduate Student Learning in the MA Program
Economics' goals for its graduate program include the following:
Students will have in-depth knowledge of markets, market structures, and the world economy.
Students will have in-depth knowledge of basic research methodology, including literature surveys, data gathering, data analyses, and policy implications.
Students will be prepared for Ph.D.-level studies in economics or related fields.
Students will be prepared for professional employment in the public and private sectors at levels above those normally expected of baccalaureate holders.
Goals for Graduate Student Learning in the Proposed MFE Program
Economics is developing a proposal for a Master of Financial Economics (MFE) program in collaboration with the finance and accounting departments. If approved, the program's goals will include the following:
The program will offer tight and seamless integration of the three disciplines and will use state-of-the-art technology and training methods including seminars, modules, site visits, individual projects, and internships.
Students will be prepared for careers in the financial service industries substantially above the entry level.
Through course work, projects, and internships, students will be immediately productive in their first jobs.
The program will maintain close ties with its alumni and with sponsors in the financial service industries.
Methods for Assessing Student Learning
Economics uses multiple assessment measures, including questionnaires, exit interviews, and job placements. In addition, enrollments since the 1990-91 academic year are plotted and compared to national enrollment trends in economics.
In fall quarter, majors completed a one-page questionnaire dealing with their experiences in the undergraduate or graduate program. Majors also completed a second one-page questionnaire dealing with their advisors' performances. Students obtained both questionnaires from the department's secretaries as part of the advising process and both were completed and returned anonymously. Students received a complimentary T-shirt as compensation for completing the questionnaires. These questionnaires were added following last year's assessment report and will be revised before being used again in fall 1997.
The questionnaire responses are quite positive. Most students are happy with instructional quality and believe they are well prepared for careers and/or graduate study. Students expressed some concern about the lack of informal interaction with other students and with faculty. This concern should decline with the department's improved space. Students also asked for more electives, especially those emphasizing practical topics. Students were satisfied with advising, but again requested more informal contacts with faculty and fellow majors.
A measure of a program's success that appeals to economists is the "market test." This test indicates that Economics' programs are doing well. We know of no unemployed graduating majors at either the graduate or undergraduate level. Some of our students sought our advice in selecting among multiple job offers. The last week of spring quarter, two employers called the department requesting students' resumes and were told that we had run out of unemployed graduating seniors.
Since 1990, Economics has experienced modest enrollment declines while nationwide enrollments in economics courses have fallen about 25 percent. There are several reasons for falling economics enrollments at almost all U.S. institutions: There has been a general decline in interest in economics. Business enrollments also have declined, which further reduced the demand for economics courses that are typically required by business programs. Many graduate students in economics are international students who are less likely to attend U.S. institutions because of the strong dollar and increased competition from other nations.
Between 1990 and 1996, overall Ohio University FTE enrollment in Athens increased by almost 7 percent, while enrollment in economics courses declined by about 3.5 percent as measured by actual enrollment and about 12 percent as measured by weighted student credit hours (WSCH).
The table below shows Economics' enrollments and WSCH since the 1990-91 academic year (fall, winter, and spring). Undergraduate enrollments and WSCH are divided between Principles, "100," and all other courses, "200-400." Graduate figures are in the column labeled "500-600."
Enrollment
Intro Undergrad Grad Total
Academic 100 200-400 500-600
Year
90-91 3,830 1,217 588 5,635
91-92 3,670 1,421 470 5,561
92-93 4,189 1,405 583 6,177
93-94 4,023 1,264 496 5,783
94-95 3,889 1,325 377 5,591
95-96 4,026 1,009 403 5,438
96-97 4,151 988 307 5,446
WSCH
Intro Undergrad Grad Total
Academic 100 200-400 500-600
Year
90-91 15,320 8,595 11,648 35,563
91-92 14,767 9,643 10,229 34,573
92-93 16,756 9,290 11,277 37,323
93-94 16,092 8,422 10,830 35,344
94-95 15,556 9,299 8,712 33,567
95-96 16,100 7,299 9,972 33,371
96-97 16,600 7,106 7,525 31,231
Overall undergraduate enrollments and WSCH are relatively flat since 1990, but graduate enrollments have fallen substantially, especially following the department's removal to Haning in 1992. Because of the higher weights assigned to graduate courses, the WSCH decline exceeds the enrollment decline. The size of the department's faculty has also declined from a high of 16.7 Group I faculty in 1993-94 to 15.3 in 1996-97, approximately a 9 percent reduction.
Compared to economics departments in most other U.S. institutions, these enrollment declines are modest. The MFE program is expected to draw approximately 40 students per year and should substantially increase economics graduate enrollments. Nevertheless, Economics needs more majors and must become more active and effective in recruiting both graduate and undergraduate students.
Improvements, Enhancements, and Changes
Economics faces challenges. The department must rapidly introduce new technologies into both graduate and undergraduate courses. Economics has been slow to develop new and innovative courses aimed at the large pool of undergraduates who are not majors, but have taken ECON 103 and ECON 104 and are interested in additional economics electives. The department needs to develop courses that would be useful for students in communication and engineering while also being appropriate for economics majors. In addition, Economics must complete its two proposals for new curricula: the MFE and an undergraduate communication-economics major.
Next year, Economics will need to begin the assessment process sooner; involve more faculty and students; develop more detailed questionnaires and exit interviews; and gather more information during the advising process. The department will need to schedule faculty meetings dedicated to discussions of teaching improvement, new course development, and assessment.