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  • 标题:Does calculus help in principles of economics courses? estimates using matching estimators.
  • 作者:Bosshardt, William ; Manage, Neela
  • 期刊名称:American Economist
  • 印刷版ISSN:0569-4345
  • 出版年度:2011
  • 期号:March
  • 语种:English
  • 出版社:Omicron Delta Epsilon
  • 摘要:Researchers in economic education explore why some students perform better than others in the learning of economic concepts. While intrinsic student characteristics can play a role in determining the learning of economics, the background of the student is also important. In the principles of economics course, researchers have often focused on the student's mathematical background or whether the student has had prior economics training, such as high school economics or another principles course (because principles courses are usually taught as two courses, students often have had one before the other).
  • 关键词:Economics;Students

Does calculus help in principles of economics courses? estimates using matching estimators.


Bosshardt, William ; Manage, Neela


I. Introduction

Researchers in economic education explore why some students perform better than others in the learning of economic concepts. While intrinsic student characteristics can play a role in determining the learning of economics, the background of the student is also important. In the principles of economics course, researchers have often focused on the student's mathematical background or whether the student has had prior economics training, such as high school economics or another principles course (because principles courses are usually taught as two courses, students often have had one before the other).

In order to measure the impact of prior economic or mathematical coursework on learning in economics principles courses, the researcher must observe the performance of principles students who have had a prior course and those who have not had a prior course. The problem is that the researcher rarely has control over which students have had the prior course and which ones do not. Ideally, a researcher can run an experiment and randomly assign students to take a mathematics course before principles and have others take principles without the course. One example of such an experiment is found in Fizel and Johnson (1986), who found that the sequence of microeconomics--macroeconomics is better than the reverse. However, the researcher today often has less control to conduct such an experiment. Students demand control over their schedules; institutional review boards prefer voluntary participation in the experimental designs. (1)

In the absence of an experiment, the researcher is left to forces outside his or her control to generate the data required. If the researcher is fortunate, an event takes place--such as a change in prerequisites or some other institutional change--that generates a natural experiment. Unfortunately for most researchers, these occurrences are rare and often serve to confound ongoing studies as opposed to generate productive new ones.

In general, economic education researchers use data in which the subjects themselves select the sequence of courses or the extent of their mathematical background. With this data in hand, the researcher estimates an educational production function using regression analysis. Typically, an indicator variable measures whether the student has had a certain type of background or not. Unfortunately, if the variable is significant, the researcher is not sure whether the prior course itself is responsible for the significance or the mere fact that the student elected to take the course is responsible.

An alternative to regression analysis is to use matching methods to analyze the impacts of having mathematical background such as a calculus course. The idea behind matching methods is to pair individuals with similar observable characteristics and backgrounds so that the only difference between the two is that one individual, by pure chance, has decided to take a calculus course while the other individual did not. By pairing each individual in the sample with a calculus course with another similar individual who did not, any resulting differences in the student's performance can be attributed to the calculus course as opposed to other characteristics.

This paper examines the impact of taking a calculus course on a student's performance in microeconomic principles and macroeconomic principles by utilizing two estimation procedures. Matching estimation is utilized to obtain estimates of the impact of calculus on student performance in principles of economics courses and the results are compared with least squares estimates. Section II contains a brief review of the literature on the effect of a student's background on the student's performance in economic principles courses. Section III outlines the role of matching estimation in addressing selection issues that arise in non-experimental settings. The data and the model are described in Section IV. The estimates are reported in Section V along with a comparison of the matching estimates and those derived from a regular OLS model.

II. Literature Review

Many studies have examined the determinants of student learning in principles of economics courses. Various specifications of educational production functions have been estimated to investigate the impact of student characteristics or background, instructor characteristics, class characteristics, or instructional techniques. In terms of student back ground, studies have focused on high school economics (Brasfield, Harrison, McCoy, 1993) or prior principles courses (Fizel, Johnson, 1986).

Another important determinant of success in principles courses is mathematics ability. Generally, the impact of mathematical ability has been measured by the estimation of an educational production function with various measures of mathematical ability as independent variables. Typical variables include the results of tests such as the SAT or ACT or a test given to the students before the class (Douglas and Sullock, 1995, Elzinga and Melaugh, 2009). Other measures include prior courses in mathematics, such as algebra or calculus (Anderson, Benjamin, Fuss, 1994 for one example).

Ballard and Johnson (2004) use a wide array of measures including whether the student has had calculus or a remedial course. They also use ACT scores and the results of a short math quiz as measures of mathematical ability. All measures significantly impacted student performance in a microeconomic principles course. One oddity in their results was that taking a macroeconomics course before the microeconomics course significantly reduced the student's score in the course. While the authors speculated that students with prior learning were lulled into complacency, another explanation is that student's choice of the sequence of courses is the reason for the "odd" sign. Students who are weaker at mathematics avoid the microeconomics course by taking macroeconomics, the lesser of two evils, first. The fact that they have taken the effort to avoid the microeconomics course is yet another indicator for future poor performance--beyond what is measured in the other variables. Another similar explanation is that students that are off the usual track are not necessarily the best students, period.

The "odd" sign found in Ballard and Johnson (2004) suggests that it is important to examine the path by which the student has reached the principles course in order to fully understand the impacts of a prior mathematics course on performance in economic principles.

III. OLS, Selection Bias, and Matching Estimation

Matching estimators provide an alternative to regression analysis for estimating the causal effect of a treatment in a non-experimental setting. Based upon the treatment-effects literature, for students who take calculus prior to an economics principles course, the effect of taking calculus is measured by the average treatment effect on the treated (ATT) which is the difference between the mean outcome (in terms of the course grade) observed for those students who actually took calculus and the mean outcome that would have been observed for these same students if they had not taken calculus.

The basic problem in estimating the average treatment effect is that for students who have taken calculus, the counterfactual mean is not observed. If it is substituted by the mean outcome for students who did not take calculus, it is likely to result in a biased estimator of the treatment effect. The bias results from the fact that the treated and nontreated groups are likely to systematically differ in terms of observed characteristics that also affect the outcome. (2) For example, a student with a strong academic background is more likely to take calculus and is also more likely to perform better in the economics course.

Matching estimators avoid bias by matching treated units with non-treated (control) units that have similar observable pretreatment characteristics. By conditioning on these observable characteristics, the difference in the outcomes is then attributed to the treatment. The matching approach thus imitates a controlled or randomized experiment and can provide unbiased estimates of the treatment effect. When there are a large number of observable characteristics that affect the outcome, practical applications of the matching approach are limited. Rosenbaum and Rubin (1983) suggest matching the treated and control units on their propensity scores in order to reduce the dimensionality problem caused by the large number of covariates. (3) The propensity score, which can be estimated with probit or logit models, is the probability of receiving the treatment (taking calculus) conditional on the observable characteristics. Biases due to observable characteristics are thus eliminated by conditioning on the propensity score.

If the choice of taking calculus before economics is based only upon observable factors, matching individuals based on their propensity scores is similar to an experimental design and propensity score matching provides an unbiased estimate of the treatment effect of taking calculus. On the other hand, if the choice is also based on unobservable factors, then estimates obtained via propensity score matching are biased estimates of the treatment effect. Agodini and Dynarski (2004) find that the size of the bias depends on the extent to which the treatment group and the control group differ along unobservable characteristics. The data utilized in this study contains information on several observable student characteristics affecting the calculus decision (mathematical ability, overall ability, prior coursework, demographic factors) and institutional factors related to course offerings and time-of-day constraints influencing student choices that allow student matching. This study also uses students from the same institution who all enter as freshmen--a homogeneous setting which might minimize the unobservable factors. The fairly extensive data on each student combined with the fact that the control group comes from the same institution as the treatment group imply that, in this case, unobservable factors may be relatively small. (4)

IV. The Data and Model

1. Data

Our initial data set consists of over 2,993 students who entered as a freshman at a university of approximately 25,000 students from fall of 2000 to fall of 2003. Because the focus of our study is the group of students who intend to take both calculus and a principles of economics course, we requested data on anyone who has taken a principles course of any major or anyone who is, or was at one time, a business major. Business majors are required to take calculus, microeconomic principles and macroeconomic principles, so our initial sample consists of anyone who has taken or had intentions of taking (as best we can determine) an economic principles course. Since none of the three courses (calculus, micro, or macro) is a prerequisite of another, students may elect to take the courses in any order they wish--and they do. Some in our sample did not take any of the three courses as of the time the data was collected in summer of 2007, leaving 2,295 in the sample as having one of the three courses. Of those who had taken at least one, about 47% take calculus as their first course of the three, 20% take macroeconomics as their first course and 21% take microeconomics. The rest take a combination of the courses in their first semester with one of the three courses. Of the students who had completed all three, the most popular sequence was calc/macro/micro. Almost as popular was calc/micro/macro, followed by macro/micro/calc and then calc-concurrent-with-macro/micro. Since the instructors in the principles courses cannot expect their students to have had calculus before the principles class, calculus is not explicitly used in the courses. Nonetheless, the use of graphical analysis in the calculus course should provide students with skills that are useful in completing the principles course.

Data was collected from the registrar's office. The data included:

1. Course information, including grades, semester taken and time of day taken.

2. Standardized test information such as SAT scores and ACT scores.

3. Demographic information such as age, gender and race.

4. High school GPA.

Variables for our estimations are constructed from these data sources. The variable of interest is the performance of the student in principles courses. Because no standardized test is given at the end of principles courses, we are left with the student's grade as an indicator of their performance. While not a perfect measure of learning, using the final course grade is appealing in two ways. First, it is a result that is of interest to students wanting to do well in a course. Second, departments have an interest in promoting the success of their students as measured by their grades. The final course grade is expressed as a grade point average with the typical 0 to 4 scale. The institution uses + and--grading, so the variable has fairly fine gradations. Two alterations to the grade are made. First, the average grade for the section that the student attended is subtracted from the grade in order to offset grading differences by individual professors. Secondly, a grade of "W" (withdrawal) was turned into a grade of "F." While not all "W" grades are due to poor performance before the deadline (see Bosshardt 2004), in general, the probability of success is lower.

In addition to the course grades in the principles courses, we also have information on all courses taken including their grades and when the course was taken. In terms of standardized test scores, we use primarily the SAT verbal and math scores. When these were not available, we used the predicted verbal and math scores based on the student's ACT scores (Dorans, 1999). While not perfect substitutes, the correlation between the ACT and SAT math is .89. The demographic data and high school GPA data are self-explanatory.

Table 1 shows a brief description of the variables used and their means for the two estimations: the effect of calculus on a microeconomics grade and the effect of calculus on a macroeconomics grade. The number of observations is lower for the subgroups because some students did have one principles but not the other. It should be noted that students who did not take all three courses because of a change in major or because they left school have not been eliminated from the sample.

Table la shows the raw differences in grades between those who have had calculus and those who have not. Apparently, the raw difference is approximately 1/2 a grade. This estimate, of course, does not account for any selection issues at all.

2. Model

With the matching methodology, our goal is to estimate a propensity score for a student's probability of choosing to take calculus before their principles class, P(C). The general specification we chose:

P(C) = f(Overall ability, Mathematical ability, Courses taken, Demographic Information, Time of Day)

The student's high school grade point average (HSGPA) and the quantitative (QUANT) and verbal (VERBAL) scores on the SAT are included as predictors of student performance in college. In addition, QUANT might also reflect the mathematical background of the student. An indicator variable for macroeconomics (microeconomics) principles taken before microeconomics (macroeconomics) is assumed to capture the effect of prior economics coursework (MACBMIC and MICBMAC). All these variables are assumed to have a positive impact on the probability of taking calculus before economics.

An indicator variable for a student having taken algebra sometime in their college career (ALGEBRA) is included for two reasons. First, taking algebra might delay taking calculus making it less likely that the student will take calculus before economics. Second, if the student is required to take algebra it might just be indicative of poor mathematical skills.

The propensity score estimation also considers the role of course scheduling and time of the day students prefer to take courses. For example, students might have time preferences due to work related constraints. This might be further complicated by certain courses being offered only at certain times of the day. Such preferences are captured by the percent of courses a student has taken in the morning during their career (MORN) and by the percent of courses a student has taken in the evening during their career (EVEN). The variable measuring the percent of courses a student has taken in the afternoon during their career is omitted from the regression to avoid perfect multicollinearity because the sum of the three time-of-day variables equals one. In this sample, students who take a larger percent of courses in the morning or evening are more likely to take calculus before economics. (5)

FEMALE, BLACK and HISPANIC are dummy variables for female, black and hispanic students. Finally, squared terms for the QUANT, and VERBAL variables and an interaction term (which equals the product of ALGEBRA and HSGPA) were included in the propensity score estimation to satisfy the balancing property. (6) The balancing property is satisfied when, within each interval of the propensity score, the means of each covariate do not differ between the treated and control units. The test of the balancing property is restricted to the common support. (7)

With the propensity score in hand, then the estimates, using the various matching schemes described above, can be calculated.

V. Results

1. Matching Model

Matching estimates of the treatment effect of taking calculus on performance in microeconomics principles and macroeconomics principles are obtained in two parts. First, the propensity scores are estimated and second, the average treatment effects on the treated are calculated using matching methods.

The estimates of the propensity scores from the probit models are reported in Table 2. The pseudo R-square in the estimated probit models for taking calculus before economics is. 17 for the microeconomics model and. 15 for the macroeconomics model.

The estimates of the propensity scores for microeconomics and macroeconomics were similar. Stronger students, as measured by their high school GPA or SAT math score, were more likely to take calculus before their principles class. In terms of coursework, if students took one of the principles courses before the other, this, probably by virtue of having taken more time, increased the probability of the student also having had calculus. The time-of-day variable, MORN, has a positive and significant coefficient implying that student choices about taking calculus early on might be influenced by the flexibility they have in the scheduling of courses as well as the times these courses are offered. Students with lower SAT verbal scores were more likely to take calculus before their microeconomics principles course. Students who had algebra were less likely to have had calculus before their microeconomics principles course. These two variables did not have any significant effects on the probability of students taking calculus before macroeconomics. The HISPANIC variable had a significant impact in both the models. The FEMALE variable was also significant in the macroeconomics model, suggesting that race and gender played some role in the calculus decision. Overall, the results suggest that students with strong mathematical backgrounds and academic records are less likely to postpone taking calculus and more likely to take calculus before macroeconomics and microeconomics.

Based on the estimates of the propensity scores the treatment effect on the treated was estimated for the performance in the economics principles (microeconomics and macroeconomics) courses. Matching estimates of the treatment effect of taking calculus are reported in Table 3. Based on the magnitude of the estimated ATT's and their statistical significance, the results from matching estimation suggest that taking calculus helps in both the economics principles courses. (8) For those who expected that mathematics preparation is more important for microeconomics, the surprising result is that the effect is about the same for both courses (the average treatment effect based on stratification matching is .291 for microeconomics and .267 for macroeconomics). (9)

2. Regression Analysis

The determinants of performance in principles of economics are also estimated using regression analysis of Ballard and Johnson (2004). Our results are reported in Table 4. Columns (1) and (2) present the same model specification that was used in the matching estimation, and are estimated with the same observations. In other words, it is assumed that all variables that impact the decision to take the course also impact performance in the course. The variable of interest--whether the student has had calculus before the principles course--is also included.

The coefficients of the calculus dummy variables are positive and significant for both microeconomics and macroeconomics but the magnitude of these coefficients is slightly smaller than the mean of the average treatment effects obtained using the four matching methods. The regressions also suggest that the high school GPA, SAT math scores, (10) and taking the other principles course are systematically related to performance in both microeconomics and

macroeconomics. The grades for black students are lower in both microeconomics and macroeconomics and one of the time-of-day variables (EVEN) affects the performance in both courses. The grades for female students are lower only in the microeconomics course whereas higher verbal SAT scores improve performance in the macroeconomics course suggesting that these variables do not reveal any consistent impacts on performance.

3. Comparison

Overall, the estimates from the matching estimation are similar to those found from the regression analysis. Both estimation procedures suggest a small, significant impact of having calculus before a principles course. A comparison of the propensity score estimates and the regression estimates does reveal some differences. For example, Hispanic students are more likely to have calculus before principles, they do not, according to the regression results, do better. Black students are no more or less likely to have had calculus, but tend to do worse in principles.

Perhaps more is learned from examining the distribution of the gains from a calculus course over different types of students. By grouping students by their propensity to take calculus, we can estimate which students (those with high propensity or low propensity) are likely to gain the most from taking calculus. For example, our estimations show that those who have a very low propensity to have taken calculus before principles are not likely to be helped by doing so. In fact, for the macroeconomics course, the 22 who did have calculus did worse than the 94 who did not. Second, the largest gains seemed to be for the groups who were 20% to 60% likely to take calculus. For the group of students whose propensity to take calculus was between 20% and 40%, the gain was about a third of a grade for microeconomic students and almost two-thirds of a grade for macroeconomics students For those students in the 40% to 60% propensity range, the average gain was about one third of a grade for microeconomic students and two-fifths of a grade for macroeconomics students. In general, the majority of the students above 60% propensity did not gain as much. (11) In sum, the largest gains from taking calculus are, apparently, for those who are not particularly inclined to have taken it, but perhaps smart enough to learn it. These students tend to have lower high school GPAs and have lower quantitative SAT scores. Those students who have a good quantitative score and good high school GPA tend not to benefit from the calculus course, probably because the level of mathematics in a principles course is readily understood by a student with reasonable mathematical and scholastic abilities.

VI. Conclusions

The results of this study indicate that calculus taken before a principles course generally helps a student's performance. For the OLS regression and matching estimation, the overall impact is roughly the same for a microeconomic course as a macroeconomic course. They gave estimates lower than a raw difference in the means between those who had calculus and those who did not.

An important advantage to the matching data technique is that more information might be drawn from the estimation of the propensity scores themselves as opposed to the calculation of the final estimate. In our case, we note that those with lower probability of calculus - but not the lowest - might benefit most from calculus. While matching techniques may not provide a silver bullet in solving the problem of nonexperimental designs faced by economic researchers, they nonetheless provide economic educators with another tool with which to examine the effects of classes or teaching techniques on student learning.

References

Agodini, Roberto, and Mark Dynarski (2004). "Are Experiments the Only Option? A Look at Dropout Prevention Programs," Review of Economics and Statistics 86(1), 186-194.

Anderson, Gordon, Dwayne Benjamin, and Melvyn Fuss (1994). "The Determinants of Success in University Introductory Economics Courses," The Journal of Economic Education 25(2), 99-119.

Ballard, Charles L., and Marianne F. Johnson (2004). "Basic Math Skills and Performance in an Introductory Economics Class," The Journal of Economic Education 35 (1), 3-23.

Becker, Sascha, and Andrea Ichino (2002). "Estimation of Average Treatment Effects Based on Propensity Scores," The Stata Journal, 2(4), 358-377.

Bosshardt, William (2004). "Student Drops and Failure in Principles Courses," The Journal of Economic Education 35(2), 111-128.

Brasfield, David S., Dianne E. Harrison, and James P. McCoy (1993). "The Impact of High School Economics on the College Principles of Economics Course," The Journal of Economic Education 24(2), 99-111.

Dehejia, Rajeev H., and Sadek Wahba (2002). "Propensity Score Matching Methods for Non-experimental Studies," Review of Economics and Statistics 84(1), 151-161.

Dorans, Neil J. (1999). Correspondences Between ACT and SAT[R] I Scores. College Board Report No. 99-1. College Entrance Examination Board, New York.

Douglas, Stratford, and Joseph Sulock (1995). "Estimating Educational Production Functions with Correction for Drops," Journal of Economic Education 26(2), 101-112.

Elzinga, Kenneth G., and Daniel O. Melaugh (2009). "35,000 Principles of Economics Students: Some Lessons Learned," Southern Economic Journal 76(1), 32-46.

Fizel, John L., and Jerry D. Johnson (1986). "The Effect of Macro/Micro Course Sequencing on Learning and Attitudes in Principles of Economics," Journal of Economic Education 17(2), 87-98.

Heckman, James J., Hidehiko Ichimura, and Petra Todd (1998). "Matching as an Econometric Evaluation Estimator," Review of Economic Studies 65(2), 261-294.

Lopus Jane S., Paul W. Grimes, William E. Becker, and Rodney A. Pearson (2007). "Human Subjects Requirements and Economic Education Researchers," The American Economist 51 (2), 49-60.

Michalopoulos, Charles, Howard S. Bloom, and Carolyn J. Hill (2004). "Can Propensity Score Methods Match the Findings from a Random Assignment Evaluation of Mandatory Welfare-to-Work Programs?" Review of Economics and Statistics 86(1), 156-179.

Rosenbaum, Paul R. and Donald B. Rubin 1983). "The Central Role of the Propensity Score in Observational Studies for Causal Effects," Biometrika 70(1), 41-55.

The authors would like to thank an anonymous referee and Sheryl Ball and other participants who attended a presentation of this paper in a NAEE/NCEE session at the 2008 ASSA meetings for helpful comments. The Office of Institutional Effectiveness at Florida Atlantic University provided invaluable assistance in gathering the data for this project.

Notes

(1.) See Lopus, Grimes, Becker, and Pearson (2007) for a discussion of institutional review boards in economic education.

(2.) See Heckman, Ichimura and Todd (1998) and Dehejia and Wahba (2002) for more technical details about the selection bias problem.

(3.) Several propensity score matching methods have been employed in the literature to obtain matching estimators: nearest neighbor matching, radius matching, kernel matching, and stratification matching. These methods differ in terms of how they construct the counterfactual outcome for the estimation of the treatment effect. See Becker and Ichino (2002).

(4.) Michalopoulos, Bloom and Hill (2004) found that having good data and choosing a control group from the same local labor market and with comparable measures from a common data source improved labor market program impact estimates obtained via nonexperimental evaluation methods such as propensity score matching.

(5.) Calculus courses are offered primarily during the day, and not in the later evenings.

(6.) See Dehejia and Wahba (2002) for a discussion on use of square and interaction terms in propensity score estimation.

(7.) Propensity score matching makes the assumption of common support, which requires the availability of comparable control units for each unit that has received the treatment. Becker and Ichino (2002) explain that the test of the balancing property is performed only on those observations whose propensity score belongs to the intersection of the supports of the propensity scores of treated and control units.

(8.) The results based on stratification matching are reported in Table 3. The stratification matching estimator partitions the common support of the propensity score into blocks such that the propensity score is balanced within each block. Treatment impacts are computed for each block by taking the mean difference in outcomes between treated and control units and the average treatment effect is computed as a weighted average of the block-specific treatment effects, with the weights being the percentage of the total number of the treated within each stratum.

(9.) Matching estimates of the treatment effect of taking calculus are also obtained by using nearest neighbor matching, kernel matching (bandwidth of 0.06), and radius matching (with radii of .1 and .005). The estimates of the average treatment effect of calculus on the grade in microeconomics and macroeconomics principles are statistically significant for each matching method. Across the four matching methods employed in this study, the average of the estimated ATT's is .31 for microeconomics and .32 for macroeconomics.

(10.) The SAT math score is significant in a linear specification (when only QUANT is included), but the squared term, QUANT2, is included in the model reported in Table 4 to provide a comparison to the results from the matching estimation.

(11.) The highest propensity group had a large gain as well, but the estimations were based on only two students without calculus.

William Bosshardt, Associate Professor of Economics, Florida Atlantic University, 561-297-2908, wbosshar@fau.edu

Neela Manage, Associate Professor of Economics, Florida Atlantic University, 561-297-3226, manage@fau.edu
TABLE 1.
Variable Descriptions and Means

Variable                 Description              MICRO      MACRO

Macrogr         Grade in first macro course,                  -0.116
                  modified
Microgr         Grade in first micro course,       -0.092
                  modified
Calcmac         Calculus before macro                          0.499
Calcmic         Calculus before micro               0.509
Algebra         Had algebra at some time            0.804      0.796
Hsgpa           High School GPA                     3.317      3.323
Algebra*Hsgpa   Interaction between above           2.654      2.628
Quant           SAT Mathematics score (or         512.615    516.230
                  predicted based on ACT)
Verbal          SAT Verbal score (or predicted    493.717    496.134
                  based on ACT)
Female          Gender                              0.476      0.451
Black           Race indicator                      0.180      0.148
Hispanic        Race indicator                      0.134      0.145
Morn            % of courses in career taken        0.392      0.393
                  in morning
Even            % of courses in career taken        0.146      0.148
                  in evening
Macbmic         Had macro before micro              0.371
Micbmac         Had micro before macro                         0.372
N *                                              1541       1493

* Number of students who had course and grade for course

TABLE IA.
Unadjusted Differences in Grades by Whether the
Student Has Had Calculus

                   Microeconomics   Macroeconomics
                       Grade            Grade

Without Calculus       -0.396           -0.390
With Calculus           0.201            0.160
Difference              0.597            0.550

TABLE 2.
Estimation of Propensity Scores of Having
Calculus Before a Principles Course

Variable                        CALCMIC         CALCMAC

Algebra                        -1.3984 **       0.3013
Quant                           0.0177 ***      0.0137 **
[Quant.sup.2]                  -0.00001 **     -0.000008
Verbal                         -0.0097 **      -0.0037
[Verbal.sup.2]                  0.000006        0.0000001
Hsgpa                           1.0272 ***      0.8093 ***
Algebra*Hsgpa                  -0.5598 ***     -0.2561
Female                         -0.1063         -0.1403 *
Black                           0.0226         -0.0095
Hispanic                        0.1905 *        0.2528 **
Morn                            1.0306 ***      0.5806 **
Even                            0.4306          0.3980
Macbmic                         0.4813 ***
Micbmac                                         0.4916 *
Constant                       -6.5008 ***     -5.8018 ***
N                            1500            1456
N with common support        1482            1443
  # control units             722             722
  # treated units             760             721

* p < .1, ** p < .05, *** p < .01

TABLE 3.
Estimates of the Treatment Effect of Taking Calculus on Economics
Principles

                 Matching Estimates of the
               Average Treatment Effect
              of Calculus on Performance in
                 Economics Principles (a)

             Microeconomics   Macroeconomics

ATT (c)         0.291 ***        0.267 ***
Std. Error     (0.090) (d)      (0.067) (d)
#Treated      760              721
#Control      722              722
Total Obs    1482             1443

                   Regression Estimates

             Microeconomics   Macroeconomics

ATT (c)          0.219 ***        0.292 ***
Std. Error     (0.062)          (0.064)
#Treated
#Control
Total Obs    1482             1443

(a) The results are based on stratification matching and utilize
the pscore and atts commands in Stata.

(b) Reported figures for OLS are the coefficient estimates of the
calculus dummy from Table 4 and their corresponding standard errors.

(c) Average treatment effect on the treated

(d) Bootstrapped standard errors based on 200 replications of the
data.

*** P < .01

TABLE 4.
Regression Estimates of the Determinants of
Performance in Principles of Economics Courses

Variable         MICROGR (1)     MACROGR (2)

Calcmic            0.2189 ***
Calcmac                            0.2922 ***
Algebra            0.7588 *        0.8851
Quant              0.0033         -0.0032
[Quant.sup.2]     -0.0000006       0.000005
Verbal             0.0016          0.0033
[Verbal.sup.2]    -0.000001       -0.000002
Hsgpa              0.6607 ***      0.6995 ***
Algebra*Hsgpa     -0.2606 **      -0.2475 *
Female            -0.1653 ***     -0.0806
Black             -0.1841 **      -0.1998 **
Hispanic          -0.0371         -0.0283
Morn               0.7319 ***      0.2284
Even               1.4881 ***      0.7169 **
Macbmic            0.2554 ***
Micbmac                            0.1752 ***
Constant          -4.8509 ***     -3.7932 ***
N               1482            1443

* p < .1, ** p < .05, *** p < .01
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