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Does more calculus improve student learning in intermediate micro‐ and macroeconomic theory?
Author(s) -
Butler J. S.,
Finegan T. Aldrich,
Siegfried John J.
Publication year - 1998
Publication title -
journal of applied econometrics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.878
H-Index - 99
eISSN - 1099-1255
pISSN - 0883-7252
DOI - 10.1002/(sici)1099-1255(199803/04)13:2<185::aid-jae478>3.0.co;2-1
Subject(s) - macro , selection (genetic algorithm) , stochastic game , ordered probit , selection bias , calculus (dental) , probit , sample (material) , probit model , econometrics , mathematics education , mathematical economics , mathematics , computer science , statistics , artificial intelligence , medicine , chemistry , dentistry , chromatography , programming language
Using a selection bias correction model with ordered probit, we estimate how a second semester of calculus affects students' grades in intermediate economic theory. Selection bias correction is needed because similar aptitudes and interests often lead students to enroll and do well in both mathematics and economics. A sample of students enrolled in 49 classes of intermediate micro and 41 classes of intermediate macro is used to estimate the model. The results show a predicted payoff from a second semester of calculus of about one whole letter grade in intermediate micro, but no payoff in intermediate macro. © 1998 John Wiley & Sons, Ltd.