I'm a CompE and I interview countless CS and CompE's for entry-level programming jobs and they consistently fail horribly at business-logic decisions. More than 50% of the time, people with 3.5+/4 undergrad and 3.5+/4 masters can barely write a function and discuss the design decisions (e.g., recursive vs. iterative, caching) behind problems as simple as returning the Nth number from the fibonacci sequence.

I've seen over and over again that knowing the physics (well enough to get A's in class) behind a computer and how it stores integers is NOT enough information to deduce good patterns and practices.