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

THE ANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE, THE CHANGING EDUCATIONAL QUALITY OF THE WORKFORCE, Robert Zemsky and Peter Cappelli, eds., Vol. 559, September 1998, pp. 12-23.

Posted: 27 May 2000

See all articles by Robert Zemsky

Robert Zemsky

University of Pennsylvania - Graduate School of Education

Peter Cappelli

University of Pennsylvania Wharton School - Center for Human Resources; National Bureau of Economic Research (NBER); University of Pennsylvania - Management Department

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

Zemsky, Robert and Cappelli, Peter, The Microeconomics of College Choice, Careers, and Wages: Measuring the Impact of Higher Education. THE ANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE, THE CHANGING EDUCATIONAL QUALITY OF THE WORKFORCE, Robert Zemsky and Peter Cappelli, eds., Vol. 559, September 1998, pp. 12-23.. Available at SSRN: https://ssrn.com/abstract=147108

Robert Zemsky

University of Pennsylvania - Graduate School of Education ( email )

Pittsburgh, PA 15260
United States
215-898-4585 (Phone)

Peter Cappelli (Contact Author)

University of Pennsylvania Wharton School - Center for Human Resources ( email )

3733 Spruce Street, Vance Hall
Philadelphia, PA 19104-6358
United States

HOME PAGE: http://www.wharton.upenn.edu/faculty/cappelli.html

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

University of Pennsylvania - Management Department ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States

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