Abstract
Using objective and subjective data from the third edition of the Test of Understanding College Economics (TUCE) collected from 117 classes in introductory economics taught at 34 different colleges, this study examines whether students taught by regular faculty with a Ph.D. degree learn more than students taught by regular faculty who have only an M.A. degree. After controlling for other characteristics of instructors, schools, and students, we find no significant association between instructor's terminal degree and several objective measures of student learning in introductory macroeconomics classes; students in introductory microeconomics classes taught by Ph.D.-holding instructors learned substantially and significantly less. For neither subject is there a significant net association between instructor's degree and student assessments of amount learned or instructor effectiveness. The results suggest that a future shortage of Ph.D. economists would not reduce student learning in introductory economics courses.
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