This paper uses Advanced Placement (AP) exams to examine how receiving college credit in high school alters students' subsequent human capital investment. Using data from one large state, I link high school students to postsecondary transcripts from in-state, public institutions and estimate causal impacts using a regression discontinuity that compares students with essentially identical AP performance but who receive different offers of college credit. I find that female students who earn credit from STEM exams take higher-level STEM courses, significantly increasing their depth of study, with no observed impacts for males. As a result, the male-female gap in STEM courses taken shrinks by roughly one-third to two-thirds, depending on the outcome studied. Earning non-STEM AP credit increases overall coursework in non-STEM courses and increases the breadth of study across departments. Early credit policies help assist colleges to produce graduates whose skills aligns with commonly cited social or economic priorities, such as developing STEM graduates with stronger skills, particularly among traditionally underrepresented groups.

中文翻译：

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高中的大学学分如何影响中学课程：AP考试的作用

本文使用高级分班考试（AP）来检查在高中获得大学学分如何改变学生随后的人力资本投资。使用来自一个大州的数据，我将高中生与州内，公共机构的中学成绩单联系起来，并使用回归不连续性估计因果关系，该回归不连续性比较了具有相同AP性能但获得不同大学学分的学生。我发现，通过STEM考试获得学分的女学生可以参加更高级别的STEM课程，从而大大提高了学习深度，而对男性没有明显影响。结果，根据所研究的结果，STEM课程中的男女差距缩小了大约三分之一到三分之二。获得非STEM AP学分可增加非STEM课程的整体课程工作，并增加跨部门学习的广度。早期的信贷政策有助于大学培养其技能与通常提到的社会或经济优先事项相吻合的毕业生，例如培养具有较强技能的STEM毕业生，尤其是在传统上代表性不足的群体中。