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This study examines the broader societal impacts and common goods generated by transnational dual-degree programs between a United States public research university and its international partners. Utilizing academic capitalism and higher education as a global common good theoretical frameworks, we reveal how these programs achieve both private and non-pecuniary impacts. These outcomes include private goods such as enhanced student employability, increased institutional revenue, and improved institutional global reputation. Non-pecuniary common goods include advancing global education quality and access, promoting social mobility for students from the Global South, fostering global cultural exchange and understanding, and promoting economic growth. Our findings provide valuable insights for educational policymakers and researchers in the development of transnational dual-degree programs.