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Abstract. University students' knowledge and understanding of economics have mostly been investigated cross-sectionally; however, longitudinal analyses are needed to determine which factors influence knowledge development and to draw valid conclusions based on test results. In the WiWiKom II project, a quasi-experimental longitudinal study was conducted assessing bachelor students of business and economics over the course of their studies in Germany (N = 39 universities). In this project, running from 2016 – 2019, the test-takers complete the WiWiKom II-test of economic knowledge (adapted TUCE4G and TEL4G items) and a general cognitive ability test (BEFKI 11) at four measurement points, each one year apart. In this paper, we describe the validation of the test instrument based on the data from the first measurement (winter semester 2016/17). We compare students' results on the economic knowledge test and the general cognitive abilities test between first-year students of economic sciences (N = 3,710) and social sciences (N = 1,347) to determine the discriminant validity of the economic knowledge test. The findings from the confirmatory factor analyses presented here show that the items on general cognitive ability and economic knowledge are empirically separable. As expected, there were no differences in the factorial structure between the comparison groups (economic vs. social science students) at the beginning of their studies.

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Study-related prior knowledge plays a decisive role in business and economics degree courses. Prior knowledge has a significant influence on knowledge acquisition in higher education, and teachers need information on it to plan their introductory courses accordingly. Very few studies have been conducted of first-year students’ prior economic knowledge or differences among students in such knowledge. In this article, the prior economic knowledge and the influence of personal factors on first-year students’ prior economic knowledge are examined. For this purpose, an adaptation of the fourth, revised edition of the American Test of Economic Literacy was administered, which was adapted in 2014 according to the Test and Adaptation Guidelines for use in higher education in Germany. We present findings based from an assessment conducted in higher education in Germany in the summer term of 2014; the subsample for this study comprises first-year students of business and economics. Findings indicate that there are significant differences in prior economic knowledge among first-year students within universities. Influence factors include economic learning experiences prior to starting university, gender, and mother tongue. The article closes with implications for teaching and degree program design.