Does mathematics matter for learning
economy? a survey of the state of the art
Morten
1
Misfeldt ,
2
Kristina Mariager-Anderson
2
Lindenskov
and Lena
1) Aalborg University, 2) Aarhus University
ABSTRACT
Mathematics as a predictor of economic performance
MATH OR ECONOMIC stated REFERENCE TO
TEACHING OR
objective??
LEARNING THEORIES
Brouwer, N.; L. Enhancing mathematics by Method(s): Analysis of two redesigns of
Authors explain that
Ekimova; M.
online assessments.
mathematics courses using Maple TA at
little is yet known about
Jasinska; L. van
the University of Amsterdam.
how to teach effectively
Gastel &
using IT. However, recent
Data:
E. Virgailaiteresearch into remedial
Meckauskaite
education shows that
Students enrolled in mathematics
the chosen pedagogical
courses in the Faculties of Science and
approach has strong
of Economics and Business in the
influence on the
academic year 2006-2007.
learning processes of
students.
Sample size: 650 students.
HYPOTHESIS/
Choudhury, A., Effect of prerequisite on
D. Robinson & introductory statistics
R.
performance.
Radhakrishnan
The objective is to observe if one prerequisite is more
effective than the others on Statistical Reasoning
AUTHOR
Mathematics is an important part of the typical undergraduate
programmes in mathematics, and furthermore it is ofthen argued
that there are good empirical reasons for including mathematics.
In this poster we present the results of an investigation into the
state of the art of the empirically based reasons for including
mathematics in academic programmes in economics.
The survey is part of a larger project investigating qualitatively
the conceptions of mathematics at a university program in
economics.
THE REVIEW: RESULTS AND CONCLUSIONS
In this literature review, we survey the role of mathematics as in economics progra
mmes. We focus on the following issues:
How and to what extent is mathematics important in university economics
programmes, and
How is mathematical competence perceived and conceptualised in university
economics programmes?
The review thus includes both international and Danish studies published in the per
iod from 2006 - 2011. The search engine ERIC has been used, and we have specifica
lly been through Journal of Higher Education and Journal of Economic Education,
with the same criteria’s. These three searches resulted in a total of 141 articles. N
arrowing down to all perspectives of mathematics as part of higher education in ec
onomics, and on the relation between professional competencies in mathematics a
nd education in economics, we were able to single out 11 of the papers for further
examination.
In relation to Danish literature, all articles (from the time period 2006-2011) in rel
evant journals, have been examined. This search resulted in a total of 296 articles,
of which two were concerned with university level mathematics and/or economics.
The review clearly documents that, mathematics is important to education in
economics although there are diverging opinions as to the specific reason why. This
knowledge is mainly based on quantitative studies that measure the relation
between mathematical competencies when starting or when already enrolled in an
economics programme, and how well students perform. This picture is consistent
over a number of studies. We also show that the qualitative nature of the relation
between mathematics as a subject matter in economics programmes is described
in rather different ways by different scholars. How the relation between subjects
is conceptualised leads to different didactical solutions to the problem of
integrating mathematics and economics. Hence, we have found many different
suggestions as to how mathematics can be done but we cannot detect a clear
structure. It is therefore all the more important to create empirical knowledge
about this relation.
We have characterized the two main strands in the conceptions of mathematics in
relation to economics as concerning:
1.
Green, J. J., C.
C. Stone, A.
Zegeye & T. A.
Charles
TITLE, YEAR, COUNTRY
EMPIRICAL RESEARCH FOUNDATION
Method(s): Parametric and nonparametric tests.
Student performance in
Statistical Reasoning as
measured by its final grade
Data: Records of all students enrolled due to the effect of a
in introductory statistics course at a
prerequisite.
Mid-Western University during fall
2002, spring 2003, and fall 2003
semesters.
Sample size: 2016 students.
Method(s): Ordered probit analysis.
How much math do
students need to succeed
in business and economics Data:
statistics?
All students who completed their
business statistics course from Fall
2001 through summer 2006.
OBJECTIVE
The focus of this paper is the use of frequent online
assessment.
The objective is to examine the effect of alternative
prerequisite math course sequences on student
performance. It is also a demonstration of the effect on
student success in business statistics of imposing a
minimum grade requirement for the prerequisite math
course.
Student grade performance.
Sample size: 1684 students.
Hoag, J. & M. E. What influence does
Benedict
mathematics preparation
and performance have on
performance in first
economics classes?
Method(s): Ordered probit analysis and ACT special mathematics
observations
score and the math
placement from a
Data: Observations from the fall
preparation entrance exam
semester economics courses between for freshmen students.
2002 and 2006. For the estimation of
math preparation and final grade use
of ordered probit model.
References to literature
on links between
mathematical ability and
performance in college
or in life decisionmaking.
The objective is to examine the effect of math
preparation on performance; how basic, intermediate,
college algebra, and trigonometry skills brought to
college are related to final grades in first level
economics courses.
Sample size: 2823 students.
Hunt, K., M.
Ntuli, N.
Rankin, V.
Schöer & C.
Sebastiao
Comparability of NSC
mathematics scores and
former SC mathematics
scores: How consistent is
the signal across time?
Method(s):
Propensity score match, quantile
regression control
Erfgertg
The effects of remedial
mathematics on the
learning of economics:
evidence from a natural
experiment.
Pozo, S. & C. A. Requiring a Math Skills
Unit: Results of a
Stull
Randomized Experiment
The objective is to replace anecdotal reportage on
mathematical preparedness of students with analytical
evidence.
Graded pre- and post tests
were used to assess student
understanding of graphing,
systems of linear equation,
area, slope, ratios and
percentages.
The objective is to verify the link between basic
mathematical skills and performance in introductory
microeconomics and to examine the use of on-line
mathematics reviews as a method to improve student
performance.
Sample size: 2489 students.
Johnson, M. & On-line mathematics
Method(s):
E. Kuennen
reviews and performance
Survey and ordered probit analysis.
in introductory
microeconomics.
Data: Students enrolled in nine
sections of introductory
microeconomics from Fall 2003 to Fall
2004 at a regional-Midwestern
University.
Lagerlöf, J. N.
M. & A.
J.Seltzer
Standardised tests for a
compulsory mathematics
course for commerce
students.
Sample size: 445 students
Method(s):
Exam results prior and
subsequent to the
A natural experiment and regression
implementation of a
analysis.
remedial mathematic course
compulsory for some
Data: dministrative records of end-ofstudents and unavailable to
year exam results for all students
others controlling for
entering the department of Economics,
background variables.
Royal Holloway, University of London
from 1997 to 1999.
References to literature
on links between
mathematical
background and
performance in
economics degrees.
Method(s):
References to literature The objective was to study the effect of providing a
on the importance of
grade incentive for students to complete an online math
math in the economics tutorial and test.
study.
Controlled experiment
Data:
Students enrolled in two sections of
principles of macroeconomics during
the spring 2004 semester at Western
Michigan University.
Average grades obtained by
the (randomly assigned)
group of students who were
given such an incentive with
the grades of a control
group of students who were
not.
The objective is to present data showing that the
amounts of mathematics taken prior to university and
the results of A-level Mathematics have strong
predictive power on student performance.
Sample size:
273 students
Schöer, V., M.
Ntuli, N.
Rankin, C.
Sebastiao & K.
Hunt
A blurred signal? The
usefulness of national
senior certificate (NSC)
Mathematics marks as
predictors of academic
performance at university
level.
Method(s):
Regression analysis
Data:
First-year students enrolled in 2008
and 2009.
Comparison of performance
in similar first tests of
Economics and
Computational Mathematics
between the 2008 and 2009
first year cohorts.
The object is to examine whether a new structure and
scope of school-leaving-marks is a reliable as predictor
of performance it university level.
Sample size: 1445 students.
Qualitative reasons for teaching mathematics for economics
Mathematical skills as a predictor of economic performance.
This is well documented by empirical methods in the reviewed literature.
2.
Mathematics as an qualitative input for improved economic performance.
Many notions and explanations are avaliable, little or non empirical
grounding avaliable.
AUTHOR
TITLE, YEAR, COUNTRY
EMPIRICAL RESEARCH FOUNDATION
MAIN CONCEPTS/CENTRAL IDEAS
Hey, J.
I teach economics, not algebra and calculus.
This is an article based on personal teaching
LEARNING OUTCOMES
Journal of Economic Education. Vol. 36, no. 3, 2005,
experience; it is not reporting data from a study.
pp. 292-304.
microeconomics using accurately drawn graphs rather than using
algebra and calculus. Thus students can learn economics without
England
Hudgins, D.
Table 1 full references
Brouwer, Natasa, Lilia Ekimova; Magdalena Jasinska; Leendert van Gastel & Egle Virgailaite-Meckauskaite (2009). Enhancing
mathematics by online assessments. Industry & Higher Education, vol 3., no. 4, august 2009, pp. 277-283
Choudhury, A., Don Robinson & Ramaswamy Radhakrishnan (2007). Effect of prerequisite on introductory statistics performance.
Journal of Economics and Economic Education Research. Vol. 8, no. 3, pp. 19-30.
Green, Jeffrey J., Courtenay C. Stone, Abera Zegeye & Thomas A. Charles (2009). How much math do students need to succeed in
business and economics statistics? Journal of Statistics Education, vol. 17, number 3.
Hoag, John & Mary Ellen Benedict (2010). What influence does mathematics preparation and performance have on performance in first
economics classes? Journal of Economics and Economic Education Research Vol 11, no.1, pp. 19-24.
Hunt, Karin, Miracle Ntuli, Neil Rankin, Volker Schöer & Claire Sebastiao (2011). Comparability of NSC mathematics scores and former
SC mathematics scores: How consistent is the signal across time? Education as Change, 15:1, 3-16
Johnson, Marianne & Eric Kuennen (2006). On-line mathematics reviews and performance in introductory microeconomics. Journal of
Economics and Economic Education Research. Vol. 7, no. 2, pp. 3-21
Lagerlöf, Johan N. M. & Andrew J.Seltzer (2009). The effects of remedial mathematics on the learning of economics: evidence from a
natural experiment. Journal of Economic Education. Vol. 40, no. 2, pp. 115-136.
Pozo, Susan & Charles A. Stull (2006) Requiring a Math Skills Unit: Results of a Randomized Experiment. The American Economic
Review, Vol. 96, No. 2 (May, 2006), pp. 437-441
Schöer, Volker, Miracle Ntuli, Neil Rankin, Claire Sebastiao & Karen Hunt (2010) A blurred signal? The usefulness of national senior
certificate (NSC) Mathematics marks as predictors af academic performance at university level. Perspectives in Education. Vol. 28, no.
2, pp. 9-18.
Table 2 full references
Hey, John (2005) I teach economics, not algebra and calculus. Journal of Economic Education. Vol. 36, no. , pp. 292-304
Hudgins, David (2010). Teaching synergistic integration of economics and mathematics. Journal of Economics and Economic Education
Research. Vol. 11, no.1, pp. 43-52
Johnson, D (2007) Seeing is believing: Mathematics Visualization in Economics Education. Journal of College teaching and Learning.
Vol. 4, no. 11, 2007, pp. 61-64 USA
OECD (2011), Tuning-AHELO Conceptual Framework of Expected and Desired Learning Outcomes in Economics, OECD Education
Working Papers, No. 59, OECD Publishing.
Olesen, M. N. (2010) Bildung – Then And Now In Danish High School And University Teaching And How To Integrate Bildung Into Modern
University Teaching. Forum of Public Policy 2010.
knowing algebra and calculus underlying results.
Teaching synergistic integration of economics and
This is an article presenting a teaching method; LIFE SKILLS and LEARNING OUTCOMES
mathematics.
it is not reporting data from a study.
The objective is to present a teaching method, Synergistic Integration
Journal of Economics and Economic Education
Method, with the purpose of enhancing higher level thinking and
Research. Vol. 11, no.1, 2010, pp. 43-52.
obtaining robust applications of numerous mathematical applications
through problem designing and presentation.
USA
Johnson, D.
The main point is that instructors can teach intermediate
Seeing is believing: Mathematics Visualization in
This is an article based on personal teaching
Economics Education.
experience; it is not reporting data from a study.
LIFE SKILLS and LEARNING OUTCOMES
The object is to stress the fact that visualization is an important
element of the learning and teaching process, and it can provide a
critical link between abstract mathematical concepts and the world the
Journal of College teaching and Learning. Vol. 4, no.
students live in.
11, 2007, pp. 61-64
USA
OECD 2011
Tuning-AHELO Conceptual Framework of Expected
This is a working paper presenting the
and Desired Learning Outcomes in Economics,
outcomes of work for the economic discipline.
LEARNING OUTCOMES
The object is to identify a set of learning outcomes and spur on a
OECD Education Working Papers, No. 59, 2011, OECD
collective reflection on learning outcomes for economics at the
Publishing.
transnational level.
Olesen, M. N. Bildung – Then And Now In Danish High School And
This paper is a personal account of a process of BILDUNG
University Teaching And How To Integrate Bildung
change in the Department of Economics,
Into Modern University Teaching.
University of Copenhagen.
Forum of Public Policy 2010.
Denmark
The object is to present new ways in which Bildung might be developed
and how Bildung might work in modern university teaching.