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 D S AD AS D MC MR Scarcity, Opportunity Cost, Supply and Demand (4 Weeks) Microeconomics (12 Weeks)Macroeconomics (12 Weeks)

Figure 1. Score distribution of first exam for microeconomics and macroeconomics

Figure 2. Probability distribution of scores for microeconomics and macroeconomics

Test Score Statistics

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.

Test Scores for a Macroeconomics Section AD AS AD AS AD AS D MC MR D MC MR D MC MR AD AS = 1.47

Table 2. Test Scores for a Microeconomics Section

AD AS D MC MR Test Scores for a Microeconomics Section AD AS AD AS D MC MR D MC MR D MC MR

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.