Thx Jadrian! This is a complex subject. Although, I think universities need to have this kind of conversation with their prospective students, my sense is they’re not. Just assuming it’s a worthwhile investment without considering the overall costs, the potential future earnings of each degree and the opportunity costs is not sensible. Maybe some colleges are doing this now, but I believe the incentives to do so are low because it’s likely to reduce demand for certain majors and have students/parents consider lower priced colleges or even not go at all.
One of the tough parts of the whole conversation is assuming college is only an investment, and ignoring the consumptive benefits associated with athletics, greek life, etc. It's something I used to spend an entire week talking about in my labor economics course.
Thx Jadrian! This is a complex subject. Although, I think universities need to have this kind of conversation with their prospective students, my sense is they’re not. Just assuming it’s a worthwhile investment without considering the overall costs, the potential future earnings of each degree and the opportunity costs is not sensible. Maybe some colleges are doing this now, but I believe the incentives to do so are low because it’s likely to reduce demand for certain majors and have students/parents consider lower priced colleges or even not go at all.
One of the tough parts of the whole conversation is assuming college is only an investment, and ignoring the consumptive benefits associated with athletics, greek life, etc. It's something I used to spend an entire week talking about in my labor economics course.
No doubt that those who don’t go to college are less likely to be exposed to diverse experiences and knowledge. Thanks for expanding the conversation.