ROI of education: how economists estimate it + US economic update - EP152
Do you get a return on investment if you get a university or college degree? Does the taxpayer get a ROI for any subsidies provided? Economics Explored host Gene Tunny discusses how economists crunch the numbers on the ROI of education with his colleague Arturo Espinoza. Gene also gives an update on the US economy, covering the strong jobs growth figure for July 2022 among other indicators.
Economics Explored · Gene Tunny, Arturo Espinoza Bocangel
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Show Notes
Do you get a return on investment if you get a university or college degree? Does the taxpayer get an ROI for any subsidies provided? Economics Explored host Gene Tunny discusses how economists crunch the numbers on the ROI of education with his colleague Arturo Espinoza. Gene also gives an update on the US economy, covering the strong jobs growth figure for July 2022 among other indicators.
Links relevant to the conversation
Macrobond charts and commentary on the US economy
https://drive.google.com/file/d/16u6pj-xjVcF5F6zfy5W99cDaClUwlsGF/view?usp=sharing
Sheepskin effect:
https://en.wikipedia.org/wiki/Sheepskin_effect
Estimating the return to schooling using the Mincer equation by Harry Anthony Patrinos, World Bank and Georgetown University
Evaluating the Return on Investment in Higher Education: An Assessment of Individual- and State-Level Returns by Kristin Blagg and Erica Blom, Urban Institute
https://www.urban.org/research/publication/evaluating-return-investment-higher-education
Reassessing the College Wage Premium Payoff by Jack Salmon, Mercatus Center, George Mason University
https://www.jamesgmartin.center/2021/03/reassessing-the-college-wage-premium-payoff/
Rich Roll’s podcast:
https://www.richroll.com/all-episodes/
Graduate Winners: Assessing the public and private benefits of higher education by Andrew Norton
Estimating the public and private benefits of higher education report from Deloitte Access Economics
Median weekly hours data by qualification for Australia
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Thanks to Josh Crotts for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au.