This study develops and applies a framework to evaluate undergraduate Global Business Literacy (GBL) learning outcomes, which is defined here as the ability to adapt and function in the global business context and to be knowledgeable about its core issues and trends. As a first step in a multi-stage research process, we used extant expatriate and global business education literature to develop a 58-item survey. Exploratory factor analysis of pre-test survey data from 166 seniors revealed five explanatory factors that we labeled "self-efficacy" (SE), "willingness to learn" (WTL), "relationship development" (RD), "technical competence" (TC), and "self-awareness" (SA). Next, we used the framework to complete a post-test study of the effectiveness of a classroom-based Global Business Colloquium at improving students' perceived GBL. A paired-samples t-test revealed mean increases/decreases in scores from Time 1 to Time 2 on four factors: SE, WTL, RD, and TC, but no significant difference in SA. We discuss future research directions and recommend potential pedagogical augmentation. (Contains 2 tables and 1 figure.)