2023
DOI: 10.1177/05694345231169654
|View full text |Cite
|
Sign up to set email alerts
|

ChatGPT has Aced the Test of Understanding in College Economics: Now What?

Abstract: The Test of Understanding in College Economics (TUCE) is a standardized test of economics knowledge performed in the United States which primarily targets principles-level understanding. We asked ChatGPT to complete the TUCE. ChatGPT ranked in the 91st percentile for Microeconomics and the 99th percentile for Macroeconomics when compared to students who take the TUCE exam at the end of their principles course. The results show that ChatGPT is capable of providing answers that exceed the mean responses of stude… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
1
1
1
1

Citation Types

0
37
0

Year Published

2023
2023
2024
2024

Publication Types

Select...
4
4

Relationship

0
8

Authors

Journals

citations
Cited by 50 publications
(37 citation statements)
references
References 36 publications
0
37
0
Order By: Relevance
“…They were also found to be struggling with tasks that require quantitative reasoning, such as solving mathematics, science, and engineering problems [6,7], and were likely to make up false facts [8]. Since the release of ChatGPT, this field of research has significantly expanded, with scholars in different fields studying ChatGPT's performance in their subject areas [9][10][11][12]. Scholars generally find the progress in the development of the technology impressive, but also point out its limited abilities in different areas.…”
Section: Existing Research On Llm Performance On Physics Tasksmentioning
confidence: 99%
See 2 more Smart Citations
“…They were also found to be struggling with tasks that require quantitative reasoning, such as solving mathematics, science, and engineering problems [6,7], and were likely to make up false facts [8]. Since the release of ChatGPT, this field of research has significantly expanded, with scholars in different fields studying ChatGPT's performance in their subject areas [9][10][11][12]. Scholars generally find the progress in the development of the technology impressive, but also point out its limited abilities in different areas.…”
Section: Existing Research On Llm Performance On Physics Tasksmentioning
confidence: 99%
“…In computational linguistics, this ability is often referred to as the ability to 'reason' despite this obviously being a misnomer. 10 In computational linguistics, anthropomorphising terms like 'reasoning' and 'thought' are often used to refer to the abilities of LLMs, which we would typically ascribe to people displaying similar behaviours. In the remainder of this section, we also use the terms 'reasoning' and 'thought' in a way that reflects their use in the existing literature on LLMs.…”
Section: The Chain-of-thought Approachesmentioning
confidence: 99%
See 1 more Smart Citation
“…Academics, students, and researchers will use LLM tools (Geerling et al, 2023). We argue that fact-checking is necessary to prevent false statements from propagating in the literature.…”
Section: Discussionmentioning
confidence: 99%
“…Al Ghatrifi et al (2023) [75], Geerling (2023) [76], Skavronskaya et al (2023) [77], Elnozahy and El Khayat (2023) [78], Aydın and Ayhan Erdem (2022) [79], Cooper (2023) [80] Ye and Bors (2022) [93].…”
Section: Acknowledgmentsmentioning
confidence: 99%