ipl-logo

Return To Education Literature Review

1399 Words6 Pages

The objective of this literature review is to explore what have already been written and get a better understanding on private return to schooling. Moreover through the literature it becomes clearer on how to reply to our research questions and how to meet the objectives on this dissertation.
Theoretical review

Return to education is today’s investment in term of monetary and non-monetary cost (Spraul, 2006) in order to get immediate need satisfaction or future monetary and non-monetary benefits (Dohmen, 2004).The return to education can also be formulated as how investment in education can yield future benefit (Dohmen, 2004) Return to education can be defined as the difference between the price of educated and non-educated labor. Individual …show more content…

The cost is divided into four parts, the direct monetary costs, indirect costs and indirect monetary cost, and opportunity cost (OECD, …show more content…

However there is also the society and the government who benefit from it because education creates future human capital (Vila, 2000). There is monetary benefits for the individual after graduation, that is an increase in his relative net income (OEDC,2012) after tax and pension (Dohmenn,2004) which lead to positive change in consumer’s behavior (vila,2000) and a higher participation social life (OEDC,2012).
Non-monetary benefits
There are non-monetary benefits not only for the individual but for the society also. Those are positive external effect as Mincer (1991) argued that the higher is the educational level, the lower will be the risk of unemployment because there will be better labor opportunity. () claimed that if the individual is satisfied with the work, it will lead to motivation at work thus an increase in the social status of the individual,(vila;2000) and by consequent it will lead to efficient decision making at work.
Benefits of private return to education
According to Harry () private return to schooling has many benefits. One of these is that all around the world the private return is 10% per year and it is higher for the sub Saharan country. Moreover he also argued that return to schooling is higher for women and that tertiary education yield more return than the primary school.

Show More
Related

  • Rhetorical Analysis: Should Everyone Go To College

    584 Words  | 3 Pages

    The rate of return that Stephanie Owen and Isabel Sawhill stated varies on prices since a person who is more motivated to attend the college would be more successful in both getting into the college and making it through the college which price will effect since just as the authors stated, “The cost of college matters as well: the more

    Read More

  • Annotated Bibliography On Education

    178 Words  | 1 Pages

    Jill Staat UEDU756 December 12, 2016 Annotated Bibliography 3 Mastropieri, M. A., Scruggs, T. E., Norland, J. J., Berkeley, S., McDuffie, K., Tornquist, E.H., & Connors, N. (2006). Differentiated curriculum enhancement in inclusive middle school science: Effects on classroom and high-stakes tests. The Journal of Special Education, 40(3), 130-137.

    Read More

  • College Still Pays Off: Article Summary

    579 Words  | 3 Pages

    Even though education is valuable to students, the society also desires it to make it safer and healthier. In my opinion, education will be beneficial to those who do their very best in their high school and college years. Additional education will affect a higher possibility of an optimistic importance in a student’s life and society, as

    Read More

  • Argumentative Essay: Is College The Best Option?

    646 Words  | 3 Pages

    Owen and Sawhill said that college education earnings money to your income. They recommend college education, but before you attend college you should be well prepared for college. On the other hand, the authors said that college may not the best option for some people and it can be wasting time if they don’t use it in a good

    Read More

  • College At Risk Summary

    545 Words  | 3 Pages

    Going to college for many students is just a normal part of life. It is what will enable them to get an education that eventually will lead to get a well-paid job and the resources and the status to live a comfortable life. But for college professor, Andrew Delbanco, the American college has a higher purpose. In the article “College at Risk”, Delbanco states that colleges should be promoting critical thinking among students, through knowledge of the past and the interaction with each other; as well as, help them discover their talents and passions and figure out what they want to do in life. This type of education is called liberal arts and for Delbanco, it represents the ideal education.

    Read More

  • Rhetorical Analysis: Should Everyone Go To College

    752 Words  | 4 Pages

    The authors gathered research from the Hamilton Project and also created graphs to provide the reader with the facts and statistics they need to make their own decision whether they should go to college or not. When the provided data is considered, it’s hard to see why someone wouldn’t choose to attend college and earn a degree. The authors were successful in achieving the goal of getting their point across by simply stating hard undisputed facts on earnings which is why this is a good example of logos in the authors’

    Read More

  • East Carolina Budget Case Study

    1086 Words  | 5 Pages

    Second would be the material cost. Even though a university provides more services than actual goods, the material cost would be equipment and supplies for the university and students to operate. Lastly, the third phase would be miscellaneous or any other cost that is not labor or material. One great example that would fall under this category would be

    Read More

  • Argumentative Essay 'Why College Isn' T For Everyone

    750 Words  | 3 Pages

    For many people, college is an important key for their future. Some people go to college for the job opportunities and the new windows it can open. Others go just for the education and experience. A good education is beneficial from many different viewpoints; in truth, it is a possibility that one's adult life could be much harder than people care to think. One can have better wealth, is less likely to be unemployed, and a much higher chance of being closer to your family.

    Read More

  • Mike Rose's Essay What College Can Mean To The Other America

    1193 Words  | 5 Pages

    Investing in college education would yield a high return since, students who graduate from a four year college without any debts, make significantly more than they used to with other inferior degrees. This also generates revenue into the country which improves the country’s economic position. Moreover, college educated students become more open minded and diverse when they interact socially with other students and teachers from different parts of the world. College educated students also have the potential to learn different religions and cultures. In the world we live in today, it is very essential for people to be open minded and have an idea of other people’s cultures.

    Read More

  • Why College Isn T For Everyone Essay

    423 Words  | 2 Pages

    When that one person doesn’t go to college, they will get an entry level job that can give them valuable skills to take into life. The non-graduates of college will learn important people skills that will guide them if they would want to go get a more advanced job. A lot of these skills, people learn in college. Because of that, people can get these skills for almost free. Lastly, the skills are lessons that people learn from parents and other parent figures in life.

    Read More

  • Summary Of Some Lessons From The Assembly Line

    964 Words  | 4 Pages

    His education from college will benefit him to get a better job so he does not have to slave away at a factory. “All the advice and public-service announcements about the value of an education that used to

    Read More

  • Persuasive Essay: Is College Education Worth It?

    763 Words  | 4 Pages

    It is easy to think college is not worth the cost to become better, but getting educated makes people better, and happier in the future and sometimes even in better health (Leonhardt 25 ). Becoming a better and happier person is good for everyone. Even former President Obama says “‘Education helps us be better people. It helps us be better citizens. You came to college to learn about the world and to engage with new ideas and to discover the things you 're passionate about -- and maybe have a little fun’”

    Read More

  • Positive Externalities In Education

    1200 Words  | 5 Pages

    The notion that education generates sufficient external benefits, either through higher levels of economic growth spillovers is examined and found lacking. Even under conditions of market failure, government failure is omnipresent and sufficiently. Through education provides positive externality and that university education needs to be subsided the government might not have enough money to pay for education which might also reduce the funds paid by the

    Read More

  • Should Everyone Go To College Analysis

    1405 Words  | 6 Pages

    “Should Everyone Go to College?” article wrote two authors, Stephanie Owen and Isabel Sawhill. They gave many examples of why people should return to college and invest in education. Authors gave statistical data how college investment is better for everyone. They also gave more data on which occupation

    Read More

  • Argumentative Essay: Is Higher Education Worth It?

    883 Words  | 4 Pages

    Is Higher Education Worth It? Nowadays a lot of people argue whether a higher education is still worth it or not. They think that not everyone needs an extra four-year of learning to get an extra title. Many people still believe that higher education is useless. Moreover, to obtain a higher level of education, it takes lots of money.

    Read More

More about Return To Education Literature Review

Open Document