The value of a redesigned program and capstone course in economics

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.