The Microeconomics of College Choice, Careers, and Wages: Measuring the Impact of Higher Education

UCSC Department of Economics Working Paper No. 423

20 Pages Posted: 21 Dec 1998

See all articles by Jere Behrman

Jere Behrman

University of Pennsylvania - Department of Economics

Lori G. Kletzer

University of California at Santa Cruz

Michael S. McPherson

Macalester College

Morton Owen Schapiro

Williams College - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: November 1998

Abstract

Understanding the economic payoff to human investments is very important from the standpoint both of individuals and of society. Correctly estimating these impacts necessitates having a well-developed idea of the microeconomic determinants of human behavior. Without this, empirical analyses of such topics as career choice, college choice, or wage determination will be flawed. We begin with a discussion of why these choice models are important--using examples of similar attempts that do not capture sufficient information--and illustrate their usefulness in a variety of contexts. We also describe the results of our attempts to examine college choice using microeconomic models.

JEL Classification: I2, J3

Suggested Citation

Behrman, Jere R. and Kletzer, Lori G. and McPherson, Michael S. and Schapiro, Morton Owen, The Microeconomics of College Choice, Careers, and Wages: Measuring the Impact of Higher Education (November 1998). UCSC Department of Economics Working Paper No. 423. Available at SSRN: https://ssrn.com/abstract=142108 or http://dx.doi.org/10.2139/ssrn.142108

Jere R. Behrman

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
133 South 36th Street
Philadelphia, PA 19104-6297
United States
215-898-7704 (Phone)
215-573-2057 (Fax)

Lori G. Kletzer (Contact Author)

University of California at Santa Cruz ( email )

1156 High St., Social Sciences I
Santa Cruz, CA 95064
United States
831-459-3596 (Phone)
831-459-5900 (Fax)

Michael S. McPherson

Macalester College ( email )

1600 Grand Avenue
St. Paul, MN 55105
United States

Morton Owen Schapiro

Williams College - Department of Economics ( email )

Fernald House
Williamstown, MA 01267
United States

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