Pecuniary Effects,Second-Order Conditions,and the LRAC Curve

In the continuing controversy over the one-semester as opposed to the two-semester introductory economics course, Paden and Moyer present evidence in support of the latter. They report on an experiment in which students in two-semester courses performed significantly better on objective tests than those in one-semester courses, after adjustments were made for such things as differences in initial knowledge of economics, student ability and influence of teaching assistants.