Experimental Design
Step 0 (Course Setup): Set three assignments throughout this course. The first assignment contains knowledge-driven questions. The second and third assignments each contain two questions, one about more theory knowledge work (for example, Fama-Macbeth regression, Machine Learning theory and application, etc.) and the other one containing more creative work. Also there will be a written final exam after all lectures and assignments. The 3-hour exam includes questions containing the theory knowledge from the three assignments. The final exam must be close-book.
• HW1: Factor model & Fama-Macbeth method (knowledge driven)
• HW2: Investment portfolio analysis (knowledge driven); Factor model & Fama-Macbeth method exploration (knowledge based on HW1; creative tasks)
• HW3: Machine learning practice (knowledge driven); Machine learning methodology explo- ration & creation (knowledge based on HW3; creative tasks)
Step 1: Prof. Ye LUO at the first lecture announces the existence of AI Agent availability towards both subclasses, introduce AI Agent briefly and announce that students will be taught about AI Agent and given accessible accounts in the class. After the first lecture, tutors will
distribute questionnaires to collect information from students. The information will serve as the pre-determined control variables in our future analysis. Questions will include (but may not limit to):
• Students’ previous experience towards LLM & AI Agent;
• Programming experience;
• Previous education/knowledge background;
• (Self-evaluation) Personal interest on research & in-depth thinking.
Step 2: For Assignment 1, no AI Agent will be provided and all the questions are knowledge-driven.We shall collect students’ performance in Assignment 1.
Step 3: After Assignment 1, conditional on students’ performance in Assignment 1, as well as students’ background match, we randomly split all the students into two groups. The first group (Group 1) will be trained before the announcement of Assignment 2. At the same time, each of them will get their AI Agent personal accounts. Two tutorial sessions will be held for Group 1. One sub-session will be taught standard AI Agent, while the other will be taught the specialized AI Agent. Students will not be told that two sub-sessions are provided different types of AI Agents. The second group (Group 2) will not get their AI Agent account or receive AI Agent training for
Assignment 2.
Step 4: For Assignment 2, we shall collect students’ performance for both groups. The AI Agent account will be suspended for Group 1 once the DDL of Assignment 2 approaches. A short survey will be distributed to all students, with self-evaluation questions including (but may not limit to):
• Time consumption on both questions;
• (Only for Group 1) The contribution of AI Agent towards two questions;
• (Only for Group 1) The time saving of AI Agent towards two questions;
• (Only for Group 2) Two placebo questions.
Step 5: After Assignment 2, Group 2 will be trained before the announcement of Assignment 3. At the same time, each of them will get their AI Agent personal accounts until the DDL of Assignment 3. Two tutorial sessions will be held for Group 2. One sub-session will be taught
standard AI Agent, while the other will be taught the specialized AI Agent. Students will not be told that two sub-sessions are provided different types of AI Agents. Group 1 at this time will not get their AI Agent account or receive AI Agent training for Assignment 3.
Step 6: For Assignment 3, we shall collect students’ performance for both groups. The AI Agent account will be suspended for Group 2 once the DDL of Assignment 3 approaches. A short survey will be distributed to all students, with self-evaluation questions including (but may not limit to):
• Time consumption on both questions;
• (Only for Group 2) The contribution of AI Agent towards two questions;
• (Only for Group 2) The time saving of AI Agent towards two questions;
• (Only for Group 1) Two placebo questions.
Step 7: The final exam will be close-book and will cover all knowledge contents covered in the three assignments. We shall record all students’ performance for further analysis. After final exam, tutors will distribute questionnaires to collect self-evaluation information from students. Questions will include (but may not limit to):
• The effect of AI Agent application towards knowledge learning.