MyLab Finance homework positively impacts student success
Pearson | October 7, 2021 in Meaningful Outcomes
by Pearson
How MyLab Finance contributes to student success
In Fall 2018, Professor Li Yong from Mercy College in Dobbs Ferry, NY partnered with Pearson to investigate how MyLab™ Finance for Foundations of Finance by Keown, Martin, and Petty impacted student success in their Financial Management course.
Researchers found that:
- 88% of students scoring above average on MyLab homework earned an A, B, or C as their average exam grade.
- Data indicate that successful completion of MyLab homework assignments was indicative of higher quiz and exam scores.
- 85% of student survey respondents agreed that MyLab Finance helped them achieve a higher grade on their exams and/or the course.
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Why does Professor Li Yong utilize MyLab Finance?
Yong found hand grading weekly assignments laborious and realized this was something that an online homework program could replace. Seeking a digital companion that would encourage
students to participate in their own learning and facilitate greater understanding of the course content, MyLab Finance was adopted in Fall 2017.
How was MyLab Finance implemented?
Students use MyLab for understanding content, homework assignments, and quizzing. Because the goal in assigning homework is practice, students are given three attempts at assignment completion. Each MyLab homework assignment is comprised of approximately four multi-part, algorithmic, end-of-chapter problems due prior to lecture. Students also complete a weekly quiz in MyLab consisting of ten multiple-choice or true/false questions. In addition to the MyLab work, there is also a midterm and final exam. MyLab assessments account for 40% of the total final grade.
Were students successful in the course?
Students were divided into two groups based on their average MyLab homework score, identifying the following:
- 88% of students scoring above average on MyLab homework earned an A, B, or C as their average exam grade, showing mastery of course content.
- Students who scored above average on MyLab homework had average quiz scores 26 percentage points higher than students who scored below average and average exam scores 13 percentage points higher.
Do students like using Mylab Finance?
Responses from a voluntary, national MyLab Finance end-of-semester survey conducted in Spring 2018 indicate that the majority of responding students recognize the value of MyLab Finance.
- 85% of respondents agreed that MyLab Finance helped them achieve a higher grade on their exams and/or the course.
- 88% of respondents agreed they would recommend that their instructor continue to use MyLab in the future.
One student said:
“MyLab Finance is like having a tutor. It shows you what you did wrong and how to solve it. It helps you master a chapter and tells you when you're ready to go or need to practice more.”
Learn more about how MyLab Finance could benefit your course
