Abstract
The aim of this study is to analyze the effects of changes in curricula brought about as a consequence of the reform carried out in university education in Spain during the first half of the 1990s. The study concentrates on first-cycle undergraduate economics students and is based on the estimation of education production functions. This estimation has the feature that two dimensions of education output are considered: the affective part and the cognitive part. Our results show that there have not been significant differences in education/training as a consequence of the reform of the curriculum.The estimates obtained highlight the importance of peer-group effects in the educative process.
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