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    Acemoglu Daron, Laibson David, List John.-Macroeconomics - 52

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    Ceyp Inem Cali
    The document discusses whether a college education is worth the investment by examining the costs of tuition and lost wages during schooling. It introduces the concepts of returns to education and measuring them using economic models and data to determine how much higher wages are for college graduates compared to those without a degree, and how compulsory schooling laws impact wages. The chapter outline previews examining the earnings difference between college and non-college workers, and the wage effects of laws requiring additional years of schooling.

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    Acemoglu Daron, Laibson David, List John.-Macroeconomics - 52

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    Ceyp Inem Cali
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    The document discusses whether a college education is worth the investment by examining the costs of tuition and lost wages during schooling. It introduces the concepts of returns to education and measuring them using economic models and data to determine how much higher wages are for college graduates compared to those without a degree, and how compulsory schooling laws impact wages. The chapter outline previews examining the earnings difference between college and non-college workers, and the wage effects of laws requiring additional years of schooling.

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    Acemoglu Daron, Laibson David, List John.-Macroeconomics_52

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    The document discusses whether a college education is worth the investment by examining the costs of tuition and lost wages during schooling. It introduces the concepts of returns to education and measuring them using economic models and data to determine how much higher wages are for college graduates compared to those without a degree, and how compulsory schooling laws impact wages. The chapter outline previews examining the earnings difference between college and non-college workers, and the wage effects of laws requiring additional years of schooling.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    83 views1 page

    Acemoglu Daron, Laibson David, List John.-Macroeconomics - 52

    Uploaded by

    Ceyp Inem Cali
    The document discusses whether a college education is worth the investment by examining the costs of tuition and lost wages during schooling. It introduces the concepts of returns to education and measuring them using economic models and data to determine how much higher wages are for college graduates compared to those without a degree, and how compulsory schooling laws impact wages. The chapter outline previews examining the earnings difference between college and non-college workers, and the wage effects of laws requiring additional years of schooling.

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    © All Rights Reserved
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    of 1

    Economic Methods

    2 and Economic
    Questions

    Is college
    worth it?
    If you are reading this book, there is a good
    chance that you are either in college or think-
    ing about taking the plunge. As you know,
    college is a big investment. Tuition averages
    almost $2,500 per year at community
    colleges, almost $5,000 per year at public
    colleges, and almost $25,000 per year at
    private colleges. And that’s not the only cost.
    Your time, as we have seen, is worth $10 or
    more per hour—this time value adds at least
    $20,000 per year to the opportunity cost of a
    college education.
    As with any other investment, you’d like to
    know how a college education is going to pay
    you back. What are the “returns to education,”
    and how would you measure them? In this
    chapter you’ll see that you can answer such
    questions with models and data.

    CHAPTER OUTLINE
    2.1 EBE 2.2 EBE 2.3
    The Scientific How much more Causation and How much do Economic
    Method do workers with a Correlation wages increase Questions and
    college education when an individual Answers
    earn? is compelled by
    law to get an
    extra year of
    schooling?

    52

    M02_ACEM0635_01_GE_CH02.indd 52 17/03/15 12:45 PM

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