The positive impacts of MyLab Finance on student success
Pearson | September 3, 2021 in Meaningful Outcomes
by Pearson
How MyLab Finance contributes to student success
In Fall 2018, Pearson partnered with Professor Kathy Towle from the University of New Mexico in Albuquerque, NM to investigate whether MyLab™ Finance for Fundamentals of Corporate Finance by Berk, Demarzo, and Harford positively contributed to student success in her Financial Management course.
Researchers found that:
- Students who scored above average on MyLab assignments earned average test scores nine percentage points higher than students who scored below average on MyLab assignments.
- 68% of students completing all MyLab assignments earned an A or B as their final course grade while just 14% of students who skipped at least one assignment earned an A or B.
- 89% of student survey respondents agreed that their understanding of the course material increased as a result of using MyLab Finance.
Click here to read the full case study or continue reading to learn more.
Why did Professor Kathy Towle adopt MyLab Finance?
Seeking an online homework assignment and assessment system that would encourage students to participate in their own learning and facilitate greater understanding of the course content, MyLab Finance was adopted in Spring 2018. Towle also appreciated how MyLab provided instant feedback and automatic grading for her students — two keys to success that could not be accomplished with paper-and-pencil assignments.
How was MyLab Finance implemented?
MyLab course assessments include homework assignments and five Excel projects. Because the goal in assigning homework is practice, students are given three attempts at assignment completion. The Excel projects are live in Excel, not a simulation, so students get to experience using Excel to solve real-world business challenges while receiving personalized feedback to check their understanding. MyLab assignments account for 25% of the total course grade.
Other assessments in the course include three texts, a final exam, discussion and current even posts and orientation activities.
Were students successful in the course?
Students were divided into two groups based on their average MyLab homework score. When comparing those who scored above average to those who scored below average, the following was discovered:
- Average test scores were nine percentage points higher.
- Average final exam scores were six percentage points higher.
- Average final course scores were 12 percentage points higher.
Students were again divided into two groups based on MyLab homework completion, identifying the following:
- 68% of students who completed all MyLab assignments earned an A or B as their final course grade while just 14% of students who skipped at least one assignment earned an A or B.
- 43% of students scoring who skipped at least one MyLab assignment earned a D or F as their final course grade.
Did students like using MyLab Finance?
Responses from a voluntary end-of-semester survey of Towle’s students indicate that the majority of responding students recognize the value of MyLab Finance.
- 89% of respondents agreed that their understanding of the course material increased as a result of using MyLab.
- 84% of respondents agreed that use of MyLab for homework assignments positively impacted their test scores.
One student said:
“The main benefit is if I am ever struggling with a problem I could always look at the additional help provided and it would clear any confusion or questions I had.”
Conclusion
The immediate feedback in MyLab offers her students something that paper-and-pencil homework cannot, helping them quickly identify areas of strength and weakness, leading to more focused practice opportunities. In addition, survey respondents overwhelmingly agreed that MyLab offered them more than traditional homework, while the data indicate that MyLab homework performance may be an indicator of successful course completion.
Learn more about how MyLab Finance for Fundamentals of Corporate Finance could benefit your course
