I read the article of Student-Loan Debt Among Top Occupy Wall Street Concerns on Wall Street Journal. The case describes that the student loan in America has reached $1 trillion. Americans began to owe more on their student loans then their credit cards last year. However, students who take loans are still worried about getting a job after graduation. Some loans maybe deferred or defaulted.
The topic I am very interested in is the economics of education. I am a Chinese student. The tuition we pay to receive education in United States is much more expensive than in China. The fee of a course can be more expensive than the total fee of 1 year’s university life in China. And yet, more and more Chinese students are going to American universities. The economy behind is that Chinese is developing so quickly, more and more families are able to afford children to study abroad. The one-child policy has been for many years, and many families in China have 1 child, so parents tend to let their only child receive the best education. That’s why when the economy of many Asian countries like India developed, the number of Chinese students become the largest of all the foreign students in America. On the other hand, American universities are willing to accept more Chinese students in order to get tuition.
The majority of the Chinese students of America are graduate students. The economy behind this is that graduate programs usually last for 2 years, and undergraduate for 4 years. Undergraduate programs are usually more expensive than graduate program. So there is limited number of Chinese students in undergraduate programs in American universities, but getting larger because of the growth of the income of Chinese families. More Chinese are questioning whether the Chinese higher education is valuable, and taking foreign universities into consideration when applying for universities.
Education loan reflects the economic principles. For...
WRIT 1301-141, Weaver Research Paper
Date Due: 5th April [email protected]
Higher education is critical in a developed economy. In most developed countries, education is considered a basic right. Hence the costs of higher education is highly subsidized by governments. This results in a significantly reduced number of students that need to work to pay for their education. The United states is one of the few counties, developed or otherwise, where the almost all the burden of paying for higher education is put on the student. This has certain interesting consequences. One of them is the relatively large proportion of college students working. The increase in tuition in the past decade have cause this to increase even further. In “For Many College Students, A Job (or Two) to Pay Tuition”, an article in the New York Times, DAVID KOEPPEL found that every year, more students were looking for an campus jobs. New York University employed 2000 more students in 2003 compared with previous years. The percentage of college students working has been growing since the 1906s (Stern and Nakata, 1). How this affects students and whether or not students should work therefore have become increasingly important questions.
￼Should undergraduate students enrolled in college full time work?
Whether or not undergraduate students enrolled in college full time, should work, depends...
...How Education And Training Affect The Economy
February 25 2012| Filed Under » Economics, Post-Secondary Education, Young Investors
Why do most workers with college degrees earn so much more than those without? How does a nation's education system relate to its economic performance? Knowing how education and training interact with the economy can help you better understand why some workers, businesses and economies flourish, while others falter.
See: Keeping Up With Your Continuing Education
As the labor supply increases, more pressure is placed on the wage rate. If the demand for labor by employers does not keep up with the supply of labor, then the wage rate will be depressed. This is particularly harmful for employees working in industries that have low barriers to entry for new employees, i.e. they do not have high education or training requirements. Industries with higher requirements tend to pay workers higher wages, both because there is a smaller labor supply capable of operating in those industries and because the required education and training carries significant costs.
The Advantages of Education to a Nation
Globalization and international trade requires countries and their economies to compete with each other. Economically successful countries will hold competitive and comparative...
Student number: 20134571
Science 1 in the Early Years
Assessment: Item 1- Views of teaching and promoting science of young learners
The pedagogy of play can be hard to understand and part of the reason for this is it’s so difficult to explain how children learn by play because play isn’t simply; it is complex. Each child begins their early childhood education with a set of skills and prior knowledge that is influenced by their family, culture and past experiences (Fellows &Oakley, 2010). The past knowledge should become the foundation for developing an understanding of scientific concepts (Duschl, Schweingruber & Shouse, 2007). Children are naturally inquisitive, creative and aware of the world around them (Campbell & Jobling, 2012). Play is an important development tool and an effective way to teach children scientific concepts while using their prior knowledge (Preston, Mules, Baker & Frost, 2007). Learning science through play shows children that science is useful and enjoyable and is a significant aspect of the real world (Bulunuz, 2013). This essay will review teaching science through play, theorists who support play and the way in which the Australian curriculum and EYLF support play pedagogy.
Science and Play
Play pedagogy is a context for learning through which children organise and make sense of their social worlds, as they engage actively with people, objects and representations. Research shows...
...Education, the pride and passion of many United States citizens, is an issue in the United States that has drawn scrutiny over past fifty years. The United States is no longer viewed as the leader of Education, as it may have or may have not once been viewed. We are falling behind countries like Japan, China, and other countries in most subjects. In order to try to close the gap in education between us and the countries that are on top in the education world; we have implemented laws, such as the No Child Left Behind Act. Some may suggest that we need to adapt more of an Asian-style approach: “US education system requires an ‘Asian’ overhaul-for example, longer school days, more frequent short recess periods, and an earlier introduction of vocational focus.” (Spellings 2010, 68)
The history of American education has been viewed one of the strongest in passed time, although there can be an argument made that we may have been underperforming compared to other countries for quite some time. “The United States, in fact, has a history of performing poorly on international comparisons, in 1964, three decades before the inaugural TIMSS, the United States participated in the First International Mathematical Study, along with 11 other nations. The United Sttes’ 13-year olds finished 11th out of 12 countries taking part.” (Cavanagh 2012) Cavanagh (2012) stated that some...
...higher at the two-year or community college level" (Huffington Post). The public education system in America has suffered considerable set back in recent years in primary and secondary education and needs a drastic change in expenditures in order to decrease unemployment and raise literacy rates.
In an article published by Jonathon Kozol in 1991, two schools in Chicago, roughly 25 miles apart from one another, had shown a remarkable imbalance in school funding which correlated to their school’s own academic performance. New Trier Township High School had succeeded in virtually every aspect in academic and athletic performance than their counterparts DuSable High School. With an incredible 27 acres of land, up-to-date technology, seven gyms, fencing and wrestling room, dance studios, and an Olympic sized pool, New Trier is one of Chicago’s best-funded schools. The same cannot be said, unfortunately, for DuSable which finds itself located in a crowded city block with no campus nor schoolyard. “The graduation rate is 25%. Of those who get to senior year, only 17% are in a college-preparation program. Twenty percent are in the general curriculum, a stunning 63% in vocational classes” (Kozol). Blame, however, cannot be always directed at the students. The teachers are also not fully adequate of teaching lessons which will actually prepare students for the future. What can be the core reasoning behind its failures? The lack of school...
...Taxpayers’ Costs to Support Higher Education: A Comparison of Public, Private Not-for-Profit, And Private For-Profit Institutions
Robert J. Shapiro and Nam D. Pham
Taxpayers’ Costs to Support Higher Education: A Comparison of Public, Private Not-for-Profit, and Private For-Profit Institutions1
Robert J. Shapiro and Nam D. Pham
Introduction and Summary of Findings
The role of private for-profit institutions of highereducation has expanded greatly in recent years. Demand for post-secondary education is up, especially for the career-focused curricula of most private for-profit colleges, universities and institutes. Further, the spread of Internet technologies creates new and highly-efficient channels for online learning, which private for-profit institutions have adopted more quickly than public and private not-for-profit colleges and universities. In addition, recent federal regulation of higher education tied to access to G.I. Bill and other federal student assistance has induced many private for-profit institutions to raise their standards and accreditation levels. The rapid expansion of these schools, however, also has raised questions about fast-rising expenditures for federal grants and loans to students attending for-profit institutions. This analysis examines all forms of federal, state and local government support across the three classes of higher...
...Eleanor Wiske Dillon University of Michigan
Three Essays on Career and Education Choices
Chapter 1: “Risk and Return Tradeoffs in Lifetime Earnings” (JMP) There is a tradeoff between risk and expected earnings across occupations. Virtually all occupations require workers to invest in specific skills that tie them to that occupation, but workers face uncertainty about how much they can earn over a lifetime of that type of work. Rational, risk-averse workers will require higher average compensation to enter riskier occupations. This paper estimates the parameters of a model of occupation, labor supply, and consumption choices over the lifecycle of college-educated, prime-age men, using data from the Current Population Survey and the Panel Study of Income Dynamics. The model includes multiple sources of occupation-specific earnings and employment uncertainty. The estimated model is used to simulate possible lifetime earnings streams for identical workers starting the same occupation and to calculate the expected lifetime earnings from starting in each occupation and the variance around that expectation. The relationship between the expected value and variance of lifetime earnings shows that compensation for earnings risk is a key explanation of variation in expected lifetime earnings across careers. The measured slope of the risk-return tradeoff is consistent with compensation for earnings risk under reasonable assumptions about the...