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The value of a redesigned program and capstone course in economics

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  • Li, Ishuan
  • Simonson, Robert D.

Abstract

This paper describes an undergraduate program in economics which redesigned its curriculum to include a required capstone research course. The outcomes of this program are noteworthy for several reasons. To assess the impact of the high-stakes capstone research course and the redesigned program, the authors provide evidence of labor market outcomes of its graduates. Further, student learning and program outcomes are measured using direct, objective, and indirect measures, among them the ETS MFT Economics scores, awards and recognitions in undergraduate research competitions, and Senior Exit Surveys. The overall evidence suggests the redesigned economics program improved research quality among its best students, and raised median hourly wages of its graduates within two to four years of graduation.

Suggested Citation

  • Li, Ishuan & Simonson, Robert D., 2016. "The value of a redesigned program and capstone course in economics," International Review of Economics Education, Elsevier, vol. 22(C), pages 48-58.
    • Handle: RePEc:eee:ireced:v:22:y:2016:i:c:p:48-58
    DOI: 10.1016/j.iree.2016.05.001
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    References listed on IDEAS

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    1. Franklin G. Mixon & Richard J. Cebula (ed.), 2014. "New Developments in Economic Education," Books, Edward Elgar Publishing, number 15538.
    2. KimMarie McGoldrick, 2008. "Doing Economics: Enhancing Skills through a Process-Oriented Senior Research Course," The Journal of Economic Education, Taylor & Francis Journals, vol. 39(4), pages 342-356, September.
    3. Ishuan Li & Robert Simonson, 2016. "Capstone senior research course in economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 47(2), pages 161-167, April.
    4. J. Lon Carlson & Raymond L. Cohn & David D. Ramsey, 2002. "Implementing Hansen's Proficiencies," The Journal of Economic Education, Taylor & Francis Journals, vol. 33(2), pages 180-191, June.
    5. Stephen B. Deloach & Elizabeth Perry-Sizemore & Mary O. Borg, 2012. "Creating Quality Undergraduate Research Programs in Economics: How, When, Where (And Why)," The American Economist, Sage Publications, vol. 57(1), pages 96-110, May.
    6. Steven C. Myers & Michael A. Nelson & Richard W. Stratton, 2011. "Assessment of the Undergraduate Economics Major: A National Survey," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(2), pages 195-199, June.
    7. W. Lee Hansen, 2001. "Expected Proficiencies for Undergraduate Economics Majors," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(3), pages 231-242, January.
    8. Jerome L. McElroy, 1997. "The Mentor Demonstration Model: Writing with Students in the Senior Economics Seminar," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(1), pages 31-35, March.
    9. William E. Becker & William Bosshardt & Michael Watts, 2012. "How Departments of Economics Evaluate Teaching," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 325-333, July.
    10. KimMarie McGoldrick, 2008. "Writing Requirements and Economic Research Opportunities in the Undergraduate Curriculum: Results from a Survey of Departmental Practices," The Journal of Economic Education, Taylor & Francis Journals, vol. 39(3), pages 287-296, July.
    11. Christopher C. Klein, 2013. "Econometrics as a Capstone Course in Economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 44(3), pages 268-276, September.
    12. John J. Siegfried & William B. Walstad, 2014. "Undergraduate Coursework in Economics: A Survey Perspective," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(2), pages 147-158, June.
    13. Carlos J. Asarta & Roger B. Butters & Andrew Perumal, 2014. "Success in the economics major: is it path dependent?," Chapters, in: Franklin G. Mixon & Richard J. Cebula (ed.), New Developments in Economic Education, chapter 15, pages 163-178, Edward Elgar Publishing.
    14. Dennis S. Edwards, . "An Economics Capstone Course from Creation to Presentation," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center.
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    Cited by:

    1. Geide-Stevenson, Doris, 2018. "Does English proficiency affect academic performance?," International Review of Economics Education, Elsevier, vol. 28(C), pages 41-48.

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    More about this item

    Keywords

    Undergraduate curriculum; Capstone course; Assessment of program outcomes; Hansen proficiencies;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • I29 - Health, Education, and Welfare - - Education - - - Other

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