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The effects of class size on student achievement have been discussed repeatedly in education research and policy. However, findings about the effects of class size for online courses have been very limited. This study examines class size effects on mathematics achievement for online high school courses using data from a statewide virtual learning initiative in Alabama. We employ quasi-experimental methodology (i.e., instrumental variables) to facilitate causal inferences of class size effects. Overall there no statistically significant class size effects found. The results indicate that class size reduction may not improve mathematics achievement for online high school courses.