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Labor market conditions and higher education demand in OECD countries

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Abstract:

Why should individuals and society invest in education? To answer this question, researchers have provided rich evidence on the benefits of education, especially the economic benefits of education, which are mostly measured by the rate of return to education. Although estimates vary depending on the country studied, sample coverage, and methods, it is known that college graduates tend to earn approximately 10% more each year compared to high school graduates for the rest of their professional life, which supports investing in college education. However, do these findings still hold true in this global recession? If not, is it still reasonable to invest in college education?
This research aims to answer these questions by looking at trends in unemployment rates, return to education, and demand for higher education in OECD countries for the past decades. This study assumes that students are rational consumers who seek to maximize their utility given the benefits and costs. Based on this assumption, this research hypothesizes that the current recession and increased tuition would affect student college decisions throughout the OECD countries. Preliminary results show that return to college education remains rather stable or slightly decreasing, while the demand for college education increased until the mid-2000s and has slightly decreased in recent years. Most results are descriptive and illustrative rather than causal.
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Association:
Name: 55th Annual Conference of the Comparative and International Education Society
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http://www.cies.us


Citation:
URL: http://citation.allacademic.com/meta/p493914_index.html
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MLA Citation:

Lee, Jungmin. "Labor market conditions and higher education demand in OECD countries" Paper presented at the annual meeting of the 55th Annual Conference of the Comparative and International Education Society, Fairmont Le Reine Elizabeth, Montreal, Quebec, Canada, Apr 30, 2011 <Not Available>. 2014-11-26 <http://citation.allacademic.com/meta/p493914_index.html>

APA Citation:

Lee, J. , 2011-04-30 "Labor market conditions and higher education demand in OECD countries" Paper presented at the annual meeting of the 55th Annual Conference of the Comparative and International Education Society, Fairmont Le Reine Elizabeth, Montreal, Quebec, Canada <Not Available>. 2014-11-26 from http://citation.allacademic.com/meta/p493914_index.html

Publication Type: Conference Paper/Unpublished Manuscript
Review Method: Peer Reviewed
Abstract: Why should individuals and society invest in education? To answer this question, researchers have provided rich evidence on the benefits of education, especially the economic benefits of education, which are mostly measured by the rate of return to education. Although estimates vary depending on the country studied, sample coverage, and methods, it is known that college graduates tend to earn approximately 10% more each year compared to high school graduates for the rest of their professional life, which supports investing in college education. However, do these findings still hold true in this global recession? If not, is it still reasonable to invest in college education?
This research aims to answer these questions by looking at trends in unemployment rates, return to education, and demand for higher education in OECD countries for the past decades. This study assumes that students are rational consumers who seek to maximize their utility given the benefits and costs. Based on this assumption, this research hypothesizes that the current recession and increased tuition would affect student college decisions throughout the OECD countries. Preliminary results show that return to college education remains rather stable or slightly decreasing, while the demand for college education increased until the mid-2000s and has slightly decreased in recent years. Most results are descriptive and illustrative rather than causal.


Similar Titles:
Re-Examining the Human Capital Theory: Return on Investment in Higher Education in OECD Countries

Education, class stratification and labor market: Literature review and China’s higher education system

The Labor Market Outcomes of Two Forms of Cross-Border Higher Education Degree Programs between Malaysia and Japan

Learning from What? The Diffusion of Labor Market Reforms in OECD Countries


 
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