FIVE
Public-Value Exchanges
New platforms that match capital to social need
Which of the following best assesses a student’s critical-thinking skills and command of knowledge of a given subject?
a. A multiple-choice test
b. An essay
Everybody knows that option B is the correct answer. So why are high school students often asked to write just three essays per semester? Because of the high cost of grading them. When professional graders score essay portions of standardized tests, the price tag runs from $2 to $3 per essay.1 Multiplied by millions of students, that’s a hefty tab. Thus teachers make do with the less meaningful yardstick of multiple-choice tests because they’re easier to grade.
Multiple-choice tests are a scalable form of assessment. ...
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