CEU Electronic Theses and Dissertations, 2016
| Author | Balog, Ilona Ida |
|---|---|
| Title | Education and Labor Market: How Long Is It Worth Studying? |
| Summary | The economic worth of education is estimated by earnings equations in a series of research work and earnings equations are also used in the decisions of continuing studies at certain stages of the educational system. However, previous research did not break down the examination of schooling coefficients of the earnings equation to the most detailed available data on educational stages. This thesis seeks answer to the question of how long it is worth studying by estimating marginal benefits of educational levels with the help of the detailed examination of a series of separate earnings equations estimated between two subsequent levels of education. Data used for the estimations is taken from the US Decennial Census of 2000 and 2010. Findings show that the increment in incomes between subsequent stages of education is high in the case of a high school diploma, therefore people should be highly motivated to obtain secondary school qualification. However, incomes increase at a much slower and continuously diminishing rate at the different stages of tertiary education, which together with increased costs and non measured factors may indicate a steep drop in motivation for acquiring higher degrees in spite of earlier conclusions supportive to tertiary education, which were drawn on more general calculations. Data also show that professional degrees are worth much more than following the academic path of studies through Master’s and doctoral degrees. |
| Supervisor | Earle, John Sutherland |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2016/balog_ilona.pdf |
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