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Principles of Macroeconomics Test 2

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					    AN ANALYSIS OF SCORE
DIFFERENCES OF BUSINESS AND
  NON-BUSINESS MAJORS FOR
    MICROECONOMICS AND
MACROECONOMICS PRINCIPLES


        Johnnie B. Linn III
        Concord University
               Progression of Learning
                                      S




                                      D




     Scarcity, Opportunity Cost, Supply and Demand (4 Weeks)



                  AS                                     MC


                                               MR

                  AD                                     D




Macroeconomics (12 Weeks)             Microeconomics (12 Weeks)
Figure 1. Score distribution of first exam for
   microeconomics and macroeconomics


                                     SCORE DISTRIBUTION 2003-2004
                                               EXAM #1

    50
    40
    30

    20
    10

    0
         0   1   2   3   4   5   6   7   8    9   10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

                                             MICRO SCORES   MACRO SCORES
Figure 2. Probability distribution of scores
for microeconomics and macroeconomics


                              PROBABILITY DISTRIBUTIONS OF SCORES

   0.14
   0.12
    0.1
   0.08
   0.06
   0.04
   0.02
     0
          0   1   2   3   4   5   6   7   8     9   10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

                                              MICRO SCORES   MACRO SCORES
                Test Score Statistics



Micro:        sample size: 264               mean: 16.88           std. dev: 3.63
Macro:        sample size: 382               mean: 15.80           std. dev: 3.91

The two-sample t-test for difference in means of the two populations is

                             16.88  15.80
                        t                   = 3.60.
                                  2      2
                             3.63 3.91
                                  
                              264   382
               Why the Difference?

•   Business majors can learn economics better than non-
    business majors.
•   Students who perform better in economics are more
    likely to become business majors.
•   Business majors have more to gain by a good grade in
    economics, hence are likely to invest more effort in the
    course.
•   Business majors are required to take both
    microeconomics and macroeconomics, and most of
    them take macroeconomics first, so when they take
    microeconomics they are being tested on materials to
    which they have been exposed twice.
Table 1. Test Scores for a Macroeconomics
                 Section.

      Group                 Number of Students   Mean    Std. Dev
      Total                 67                   16.32   3.65
      Not ever taking mi-   29                   15.38   4.02
      croeconomics (non-
      business major)
      Having taken mi-      38                   17.03   3.22
      croeconomics in the
      past, simultane-
      ously, or future
      (business major)
      Having taken mi-      28                   16.64   2.25
      croeconomics in the
      future
      Having taken mi-      6                    19.33   4.84
      croeconomics si-
      multaneously
Test Scores for a Macroeconomics Section

                                          MC


                         MR

                                          D




           AS                             AS                     AS              AS   MC

15.38                         16.31            = 1.47   16.64         19.33 MR
           AD                             AD                     AD              AD   D




        29                            4                         28          6

                                                                 MC


                                                  MR
        16.64  15.38
  t                    = 1.47                                   D
        2.252 4.022
             
         28    29
Table 2. Test Scores for a Microeconomics
                 Section

      Group                Number of Students   Mean    Std. Dev
      Total                62                   16.05   4.01
      Not ever taking      25                   14.96   3.90
      macroeconomics
      (non-business ma-
      jor)
      Having taken mac-    37                   16.84   3.91
      roeconomics in the
      past, simultane-
      ously, or future
      (business major)
      Having taken mac-    5                    14.00   3.39
      roeconomics in the
      future
      Having taken mac-    5                    17.20   5.40
      roeconomics simul-
      taneously
     Test Scores for a Microeconomics Section

                                                AS




                                                AD




                  MC                            MC                    MC        AS       MC


MR   14.96                        MR   17.30         MR   14.00            MR    17.20
                  D                             D                     D         AD       D




             25                                27                 5                  5

                                                                      AS



                  14.00  14.96
             t                    = - 0.56                           AD
                   3.392 3.902
                        
                     5    25
             CONCLUSIONS

• A strong correlation exists between better
  performance and previous exposure to the
  material.
• A weaker correlation exists between better
  performance and being a business major,
  when previous exposure to the material
  has been corrected for.

				
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