I'm a third year in my undergraduate studies. I have a 27in iMac, so I went with an 11in for mobility. My thought process was- Large screen at home for work/studying/etc and when I'm on the go, ultra portability with a full-blown OS.
But the problem is, that way of thinking is actually incorrect. Your setup at home really has no effect on your computational needs on the go. I mean, think of it this way: Just because you have a pitcher at home, does that mean you only need a sippy cup when you're out and about? No, of course not! You need something to satisfy your needs and requirements. They're independent events and you should choose what suits you best in both occurrences.
The fact is, yes, maybe the 11in will work with you. Maybe the use of spaces and full screen apps does not impede your workflow. But for me, as I progressed more into splitting my computing half and half between my iMac and MBA, I found the 11in not suiting my needs.
Yes, I can get by just fine for a few hours at a time, but if I want to be just as productive as on my iMac (work more than just a few hours, that is), a bigger screen would be just the ticket. So right now I'm in the midst of moving up to a 13in and seeing how that works. Main issues I've come across in using the 11in are having windows side-by-side and battery life. With smaller windows (when doing side-by-side), to have the document or something viewed in its entirety, it shrinks down a lot, making it difficult to read. So if you zoom in, you can read it better, but end up having to scroll left, right, up, and down quite frequently.
It's certainly a first world problem, but don't get me wrong.. the 11in is an excellent machine, best in its class. But the screen size hampers it for me. But that could just be a factor of my uses. I really wish they could put in a 12.5in screen, or even a 13in. It'd fit (the latter without the camera unfortunately), but surely that'd affect the structural integrity of the lid (along with other factors I'm probably overlooking). Just a dream, I suppose.
tl;dr: Test both, figure out which fits your work flow best, and don't be afraid to make the wrong decision.