...Is a higher education worth the price of admission ? Unemployment in the United States has been a pertinent issue for the last couple years, and has been perceived as a top priority on Congress’ political agenda. The question remains as to how future generations should prepare themselves moving forward, with regards to their career plans. In other words, how economically sound is it to invest in a higher education. I have decided to explore this topic from different angles. Obviously, the main concern with institutions of higher learning, is financial debt. According to Sam Frizell’s article, “Student Loans are Ruining Your Life. Now They’re Ruining the Economy, Too”, students in the United States are “well over $1trillion in debt, and its starting to hurt everyone.” The reason for this increasing debt, is the result of increasing tuition costs of colleges and universities. Many students who are saddled with an exorbitant amount of debt, are taking longer to pay off their education costs. This issue not only affects the individual trying to pay off his debt, but also adversely affects the economy as a whole, since if students have less money as a result of paying debts, that is less money they will be spending on services and goods. This concept of higher education negatively affecting the economy, goes against conventional wisdom. Obviously, education is generally seen to be vital for the economy, and it is. As Noah Berger and Peter Fisher mention in their article “A...
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...IMPACTS OF GAINING A COLLEGE DEGREE 07th February 2015 Abstract The main purpose of this research report is to interpret the importance of gaining knowledge and earning a college degree. The core objective of this report was to focus on to the impacts of gaining a college degree and how it affects on our lives in a personal level and professional level. The key argument of this report is that without a college degree, most of the individuals are deprived of basic achievements that any educated person should acquire. Table of contents Abstract I Table of Contents II Introduction 1 Employment Benefits of a College Degree 2 2.1 Opens more career opportunities 2 2.2 Provides Job Security3 Personal Benefits of a college degree4 3.1 Helps make the right decisions4 3.2 Better Social Life5 4. Conclusion 5 5. Reference 1. Introduction Undoubtedly, knowledge is an important aspect in achieving success for any individual. Education is one of those many ways in gaining knowledge which can eventually lead the person more forward in the path of success. Gaining a college degree (or equivalent) is getting more attention by people regardless of their race, gender or age. This report would include impacts of earning a college degree on the personal and professional life of an individual. Earning a college degree creates pathways to implement inner confidence and self-esteem to enhance collective...
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...1985). It remains as the major tool by which people become empowered and the economic, social, and personal well-being of all citizens in all societies is provided (American Psychological Association [APA], 2010). The prosperity of a country depends on its well qualified and educated human capital. Thus education level of a society is one of the most important indicators of socio economic development and productivity rates in a country (Çakmak, 2008).” In today’s economy, a high school diploma, an associates degree and relevant education is necessary to succeed. 6 year high schools are one way to ensure that students are getting the education they need to thrive in today’s society. According to Bureau of Labor Statistics, an employed person with only a high school diploma earns an average of $33,904 yearly. An employed person with an associate’s degree earns an average of $40,820 yearly. Individuals that have only earned a high school diploma have an 8.3% unemployment rate, while individuals with a high school diploma and an associate’s degree only have a 6.2% unemployment rate. The average for the United States is 6.7%. Individuals that don’t even have a high school diploma fall to a 12.4% unemployment rate! High schools should be extended to six years. There are many reasons as to why this is true. One reason is to cut out the cost of college. In the final two years of the high school, you can be learning from professors and earning your associates degree in...
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...Educational return on Investment Many high school graduates as well as adults in the workforce today have many decisions to make about the need to continue their education. Since the unemployment rate for both educated as well as uneducated personnel has realized little decline, students struggle to find a balance between the value of continuing education and the cost associated with it. There are two conflicting arguments concerning educational return on investment; both sides over the presence or absence of a bachelor’s degree sides offer valid claims. It can be argued that a person’s success is not determined by merely obtaining a bachelor’s degree. A person will have to determine the definition of success as it relates to them. Some of the attributes that contribute to success are personal such as drive, determination, and creativity. There are many successful entrepreneurs who did not have a bachelor’s degree. Andrew Carnegie, famous industrialist and philanthropist, known for the Carnegie Institute of Technology and building 300 public libraries was a high school dropout. Coco Chanel, founder of the brand Chanel and Chanel No. 5 perfume does not have a college degree. Andrew Jackson became President of the United States at age 35 without a formal education. Dave Thomas, billionaire founder of Wendy’s dropped out of high school at age 15 (Toren, 2011). This proves that to attain recognition and be successful, we do not have to possess a bachelor’s degree. Also...
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...As college admission fees continue to skyrocket, the payoff is extremely worth the debt. The money spent is most definitely not being wasted with an investment in a college degree. The debt might seem too much to stomach, but who does not want to earn more money in the long run? Even with the shocking sticker price, students should attend college because college helps you develop into the person you are meant to be, it lets you explore new fields and opportunities, and in a lifetime college attendees receive more money. Many people who are looking to attend college just see it as an educational value. However, there are many other opportunities that can come from attending a college. In college, learning is not just with people from your hometown anymore. Students are combined with people from all over the country, and possibly even the world. There are...
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...Introduction According to the U.S. Department of Labor, unemployment rates have increased to 7.9 percent. The unemployment rate can be defined as the number of people actively looking for a job as to the percentage of the labor force. Although statistics show an increase has occurred, there has also been an increase in higher education jobs. Higher education growth has been steady, stable and greater than overall U.S. jobs. The market share of higher education jobs compared to all U.S. jobs continued to increase and a trend has persisted for several years. Individuals who complete educational programs possess the qualities employers are seeking. These strong qualities include the willingness to learn, initiative, and organizational abilities. By pursuing a high level of education that is consistent with the interests and abilities, the career goals are likely to be reached. Statement of the problem Can having a higher education offer you more job opportunities? Is higher education a promise to less risk of unemployment? Are there clear indications that there’s a relationship between higher education and lower unemployment rates? Objectives 1. The underlying question to be answered is to determine if higher education promises less risk of unemployment? Hypothesis Null Hypothesis- The risk of unemployment is not affected by higher education Alternative Hypothesis- Higher education affects the risk of unemployment Methods We are planning to test correlation on SPSS...
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...obtain title to all assets of the enterprise or the control of the enterprise. Human Capital: Measure the economic value of employees' skills set. On the basis of this measure, all of the labor is considered equal basic production inputs of labor measures. A bad match: Even though a worker is not productive enough to permit compensation, he will get the common wage, which is same as the same industry. Information asymmetry Information asymmetry refers that one party in a transaction has more information than others. Major Findings or Arguments: 1. From the Figure 1, Hypothesis one is approved. It claims that workers who work at M&A plant will get higher compensation than comparable workers. 2. The conclusion got from Table 3 is that overcompensation is decreased by M&A. 3. According to Table 4, the comparison result identifies hypothesis 3, which is employees who change their jobs after M&A will get higher earning growth than others. 4. After the plant...
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...New York unemployment rates are relatively high. People are trying to analyze the causes of this situation and explain reasons of unemployment in the United States. In the article “U.S.G. and P.T.A.” by Thomas L. Friedman, the author is discussing unemployment as a major society problem. He highlights three main problems, which foster unemployment: increase in global competition mainly because of globalization, fast-growing technology, which eliminates low-skilled workers from the job market and low American educational grades compared to other countries. In the article “Digging Deeper Into What Caused Job Losses” by Casey B. Mulligan the author argues that unemployment was not caused by credit-crunch or demand-based theories. He gives arguments why those theories are not accurate which indirectly approve and agree with the first article. Unemployment in The United States caused by global competition, fast-growing technology and lack of qualitative education and not caused by credit-crunch or product demands. The first deep problem fostering unemployment is global competition. “And as the education systems of China, India, Singapore, Poland and Vietnam continue to improve, and more of their cream rises to the top and more of their young people apply to ivy League schools, it is only going to get more competitive for American men and women at every school”. The author states that it is become really hard to compete with other countries, because their growing education. He gave...
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...The rising cost of a college education is hitting one group especially hard: the millions of students who drop out without earning a degree. A bachelor's degree remains by far the clearest path to the American middle class. Even today, amid mounting concerns about the rising cost of higher education and questions about the relevance of many college degrees, recent graduates have lower rates of unemployment, higher earnings and better career prospects than their less educated peers. But as more Americans than ever before attend college, more too are dropping out before they ever don a cap and gown. That means millions of Americans are taking on the debt of college without getting the earnings boost that comes from a degree. Dropouts are more than four times as likely as graduates to default on their student loans. "Graduating with a lot of debt can be daunting," says Lauren Asher, president of the Institute for College Access and Success, an advocacy organization promoting access to higher education. "Having a lot of debt and not graduating is even more daunting." The complexity of the student-loan system -- a web of public, private and subsidized loans that together add up to more than $1 trillion -- makes it difficult to know exactly how much debt is held by dropouts. But the scale is massive. A 2011 study by the Institute for Higher Education Policy, a Washington, D.C.-based research firm, found 58% of the 1.8 million borrowers whose student loans began to be due...
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...The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy* Lisa B. Kahn Yale School of Management First Draft: March, 2003 Current Draft: August 13, 2009 Abstract This paper studies the labor market experiences of white male college graduates as a function of economic conditions at time of college graduation. I use the National Longitudinal Survey of Youth whose respondents graduated from college between 1979 and 1989. I estimate the e¤ects of both national and state economic conditions at time of college graduation on labor market outcomes for the …rst two decades of a career. Because timing and location of college graduation could potentially be a¤ected by economic conditions, I also instrument for the college unemployment rate using year of birth (state of residence at an early age for the state analysis). I …nd large, negative wage e¤ects to graduating in a worse economy which persist for the entire period studied. I also …nd that cohorts who graduate in worse national economies are in lower level occupations, have slightly higher tenure and higher educational attainment, I am grateful for helpful comments from George Baker, Dan Benjamin, James Heckman, Caroline Hoxby, Larry Katz, Kevin Lang, Fabian Lange, Steve Levitt, Derek Neal, Chris Nosko, Emily Oster, Yona Rubenstein, Hugo Sonnenschein, Mike Waldman and seminar participants at Harvard University, the University of Chicago, Yale University, and the Midwest Economic Association 2003...
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...There are a lot of concerns when it comes to college. Among these concerns are the price of tuition and how unbearably high it is. Because of how high the cost is, people are starting to wonder whether or not going to college for a degree is worth it. This topic is widely debated throughout the country and until the price of tuition has been made more affordable the debate will continue. However it is easy to get lost in the debate and begin to think that even if the cost were to be lowered that college would still not be worth the time to go. While college may not be for some people it is still very important to our country that we have educated people. Society benefits from educated individuals more than most people know. Not only that but...
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...Economic development of south arabia Name: Institution: Economic development of south Arabia South Arabia is one of the developing nation,it largely depends on petroleum income for its budget revenues.It is one of the largest oil producing countries in the world and petroleum income accounts for more than 50% of its budget revenues and 90% of earning from export. since the discovery of oil in 1930s the economy of south arabia has grown tremendously to a high level(Oxford,2012).Its economy has since shifted from subsistence farming to the service and oil industries. South arabia economy is ready for economic take off,with huge investment by government on infrastructure and other social amenities, high and stable income from oil and increase export of non-hydrocarbon (IMF,2012).The economist have projected this years economic growth to be 7% citing reasons such as increase oil revenues and massive government investment(Oxford,2012).In the recent past the government has rolled out plans of investing back Increased revenues from oil export into economy by announcing new development programmes like housing units,infrastructure and other economic stimuli programmes. South Arabias increase in economic growth is also being contributed to by government plans to diversify the economy, the government has invested heavily in industrial and agricultural sector, while also encouraging both local and foreign investors to invest in the economy(Worldbank,2012). The government...
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...financial sense. When adjusted for inflation, the hourly earnings of young college graduates ages 23 to 29 have been falling. According to the Economic Policy Institute, male graduates’ wages fell by 11% to $21.68 per hour in the decade leading up to 2011, while female graduates’ wages saw a decline of 7.6% to $18.80 per hour. (College graduates still earn significantly more than high school graduates, however.) One reason for the downward trend is high unemployment persisting since the recent recession. But wages paid to young workers began falling even before the recession started. Companies are not typically cutting wages for the workers already on their payroll; rather, they can reduce payroll costs by paying lower rates to their newly hired employees. The practice can boost the bottom line, but it leaves human resource managers with a significant challenge. A recent survey by MarketTools found that one-fifth of employees have been trying to find a new job, and their top reason for wanting to leave was dissatisfaction with their pay.1 From the employer’s point of view, pay is a powerful tool for meeting the organization’s goals. Pay has a large impact on employee attitudes and behaviors. It influences which kinds of employees are attracted to (and remain with) the organization. By rewarding certain behaviors, it can align employees’ interests with the organization’s goals. Employees care about policies affecting earnings because the policies affect the employees’ income and...
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...One of the major issues is that they are trapped in a cycle. Parents who cannot afford food and shelter for their children most likely cannot afford to send them to a good school none the less to college. Most likely if you do not attend college, you will not find a good steady job to help pay for basic needs. The rich and wealthy people of this nation often frown upon the less fortunate, blaming them for their horrid circumstances. However, they do not know what it is like to have to struggle. Having to live in poverty is like trying to walk through quick sand. The more and more you try to help your families the more your situation drags you down. The less fortunate communities often have higher crime rates because people are desperate for survival. Imagine having to live a life surrounded by crime, lack of food, clothing, shelter, and dirty water while having the rich people look down at you and blaming you for growing up in such tough...
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...detailed knowledge of functional management roles found in most organizations. The MBA is recognized worldwide as a valuable asset for business and administrative careers. The first MBA program started in the 1900s and has evolved over the past century as the business requirements for a highly skilled management have become mandatory in the globalization of the economy. MBA programs have become specialized and more accessible to full-time workers. Some of the concentrations for an MBA are accounting, health care management, technology management, global management, and human resources management. These concentrations allow more specialization and more opportunities in the job market. Objection 1: Cost A major factor that most objectionable to an MBA is the monetary cost to obtain the degree. Tuition can range from $20,000 to $ 50,000 per year to receive an MBA degree. Harvard...
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