ChatGPT has mastered the principles of economics: now what?

Geerling, Wayne, Mateer, G. Dirk, Wooten, Jadrian and Damodaran, Nikhil (2023) ChatGPT has mastered the principles of economics: now what? [Working papers (or Preprints)] (Submitted)

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ChatGPT is a natural language processing model that can generate conversational style responses to user inputs. It also performs extremely well on a popular standardized assessment used in principles of economics courses around the country. 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 emergence of artificial intelligence presents a significant challenge to traditional assessment methods in higher education. It is not possible to evaluate students’ intellectual ability through artificial intelligence, as it only reflects their ability to access information. An important implication of this finding is that educators will likely need to redesign their curriculum in at least one of the following three ways: reintroduce proctored, in-person assessments, augment learning with chatbots, and/or increase the prevalence of experiential learning projects that artificial intelligence struggles to replicate well.

Item Type: Working papers (or Preprints)
Keywords: TUCE | ChatGPT | assessment | artificial intelligence | academic integrity
Subjects: Social Sciences and humanities > Economics, Econometrics and Finance > Economics
Physical, Life and Health Sciences > Computer Science
Social Sciences and humanities > Social Sciences > Public Policy
JGU School/Centre: Jindal School of Government and Public Policy
Depositing User: Arjun Dinesh
Date Deposited: 01 May 2023 19:42
Last Modified: 01 May 2023 19:42
Official URL:


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