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Calculus attainment and grades received in intermediate economic theory
Author(s) -
Li Mingliang,
Tobias Justin L.
Publication year - 2006
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/jae.876
Subject(s) - censoring (clinical trials) , prior probability , bayesian probability , replicate , econometrics , variable (mathematics) , calculus (dental) , outcome (game theory) , mathematical economics , computer science , mathematics , statistics , medicine , mathematical analysis , dentistry
We revisit the work of Butler et al. (1998) who examine the effect of mathematical preparation on grades received in intermediate economic theory courses. Using a Bayesian approach under reasonably ‘diffuse’ priors, we are able to replicate their two‐step point estimates almost exactly. We also introduce a new model specification that accounts for the censoring and discrete nature of the outcome variable (grade received). The results from this specification echo the conclusions of the original paper—the level of calculus attained plays an important role in explaining grades received in intermediate micro theory. Copyright © 2006 John Wiley & Sons, Ltd.