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
Date Written: November 1998
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: Suggested Citation