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This paper develops an original measure of learning in higher education, based on grades in subsequent courses. Using this measure of learning, this paper shows that student evaluations are positively related to current grades but unrelated to learning once current grades are controlled. It offers evidence that the weak relationship between learning and student evaluations arises, in part, because students are unaware of how much they have learned in a course. The paper concludes with adoi:10.3200/jece.40.3.227-261 fatcat:55gl7amvizazhiu3kcnnv237se