If your taxable income is decreased does your refund increase?

I did my taxes for the 2008 tax year last January and I received a refund from the IRS. However, I recently found out that I should have placed the Hope Tax Credit on my tax return. If I amend my taxes and put the credit on there will the IRS owe me an additional refund?? I am uming that since the credit reduces my taxable income, that my refund should increase....Also, I made under $25,000 and I had two dependents that were in school. One was in college the Fall of 2008, and this was her first year. I paid her tutition of $2,500. Thank you for your advice!!! :)