Economics of Education: Crash Course Economics #23
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Date: 2022-04-04
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Comments and reviews: 10
Михаела
Some pretty questionable notes, but go wild yall
Economics of education
Education is considered a positive externality -
a benefit that is enjoyed by a third-party as a result of an economic transaction
(helps individuals and society as a whole)
US has a problematic educational system, one of
which - inequality. Funding is needed, but for others competition is needed.
Investing in primary and secondary education is considered a priority.
College has more requirement for enrolling and
doing the degree. College graduates earn more, by showing proof for finishing a
degree basically - a diploma.
Cost - expensive in the U. S. Forcing students to
take loans. There was an inflation in prices in recent years. There are options
for discounting (scholarships, etc) Inflation in prices of unis are because the
actual costs of running a college is higher.
reply
Some pretty questionable notes, but go wild yall
Economics of education
Education is considered a positive externality -
a benefit that is enjoyed by a third-party as a result of an economic transaction
(helps individuals and society as a whole)
US has a problematic educational system, one of
which - inequality. Funding is needed, but for others competition is needed.
Investing in primary and secondary education is considered a priority.
College has more requirement for enrolling and
doing the degree. College graduates earn more, by showing proof for finishing a
degree basically - a diploma.
Cost - expensive in the U. S. Forcing students to
take loans. There was an inflation in prices in recent years. There are options
for discounting (scholarships, etc) Inflation in prices of unis are because the
actual costs of running a college is higher.
reply
brett
My little 2 cents on this(background on me, i've been in the military for 12 years. i've only have my high school dip)
i've seen more younger troops with BD/MD. but wow, they do not know how to tie their boots.
i had this one guy with a MD, ate expired vienna sausages. i told him not to do it. he was useless for about 2 days after.
i would have just random conversations about random stuff of interest. i'd have to say he is one of the dumbest people i have ever met. it had gotten to a point that i couldn't work with him because i couldn't trust him.
(he still is in at the time of this comment)
reply
My little 2 cents on this(background on me, i've been in the military for 12 years. i've only have my high school dip)
i've seen more younger troops with BD/MD. but wow, they do not know how to tie their boots.
i had this one guy with a MD, ate expired vienna sausages. i told him not to do it. he was useless for about 2 days after.
i would have just random conversations about random stuff of interest. i'd have to say he is one of the dumbest people i have ever met. it had gotten to a point that i couldn't work with him because i couldn't trust him.
(he still is in at the time of this comment)
reply
DMO
Guaranteed student loans = guaranteed college revenue. Why wouldn't colleges raise prices it's guaranteed. You want lower college prices get rid of the guaranteed loans and allow meritocracy to take control. Yeah some won't make it into college because loan companies will have to treat them like loans again but thats the real world unfortunately and it doesn't care about how anyone feels. What's best for the society is not what best for the individual. trying to pretend that if we claim morality long enough will change reality will just make things worse.
reply
Guaranteed student loans = guaranteed college revenue. Why wouldn't colleges raise prices it's guaranteed. You want lower college prices get rid of the guaranteed loans and allow meritocracy to take control. Yeah some won't make it into college because loan companies will have to treat them like loans again but thats the real world unfortunately and it doesn't care about how anyone feels. What's best for the society is not what best for the individual. trying to pretend that if we claim morality long enough will change reality will just make things worse.
reply
Randy
As a recent graduate, I've noticed a lot of college students not come out smarter after graduating. Sure they've received the information from their college if they attended lecture, but that doesn't mean they will apply it in the future. Some didn't know or care what they majored in from the start and just went to college because they were pressured to do so by their family or friends. The information they received and the amount they paid for it was practically wasted knowledge.
reply
As a recent graduate, I've noticed a lot of college students not come out smarter after graduating. Sure they've received the information from their college if they attended lecture, but that doesn't mean they will apply it in the future. Some didn't know or care what they majored in from the start and just went to college because they were pressured to do so by their family or friends. The information they received and the amount they paid for it was practically wasted knowledge.
reply
160p2GHz
Do appreciate your plug for trade. It was really under-sold in my generation and is a great way to get a good, well-paying, rewarding career. Even my friends who self-taught business and tech skills have done much better than folks who went for degrees in many cases. You don't start out well sure, but you're climbing the ladder getting EXACTLY the skills your field wants in the years all your friends are in uni, racking up debt. Much better option for like 90% of fields imo.
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Do appreciate your plug for trade. It was really under-sold in my generation and is a great way to get a good, well-paying, rewarding career. Even my friends who self-taught business and tech skills have done much better than folks who went for degrees in many cases. You don't start out well sure, but you're climbing the ladder getting EXACTLY the skills your field wants in the years all your friends are in uni, racking up debt. Much better option for like 90% of fields imo.
reply
Victor
The reason college is so expensive is because there's no incentive for it to be less expensive. Their customers -- the students -- will keep coming as long as there a virtually unlimited pool of Government money to finance college. If the money dried up, and their customers dried up, colleges would be forced to reduce costs to compete. This video should not be part of this economics curriculum. It is very left leaning.
reply
The reason college is so expensive is because there's no incentive for it to be less expensive. Their customers -- the students -- will keep coming as long as there a virtually unlimited pool of Government money to finance college. If the money dried up, and their customers dried up, colleges would be forced to reduce costs to compete. This video should not be part of this economics curriculum. It is very left leaning.
reply
160p2GHz
COLLEGES NOW EMPLOY MORE ADMINISTRATORS AND PAY THEM A WHOLE BUNCH OF MONEY I just want to point that one out to the audience. It's way more key than you're thinking. If you're at a public uni you can look up the pay of any uni employee online, it's public record. Look at who your highest paid are (coaches and admin usually. Look how much they are paid. You're paying for that. And that's just at a public uni.
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COLLEGES NOW EMPLOY MORE ADMINISTRATORS AND PAY THEM A WHOLE BUNCH OF MONEY I just want to point that one out to the audience. It's way more key than you're thinking. If you're at a public uni you can look up the pay of any uni employee online, it's public record. Look at who your highest paid are (coaches and admin usually. Look how much they are paid. You're paying for that. And that's just at a public uni.
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Ishi
My opinion, college isn't worth it. It's not worth being sent into debt for the rest of my life just to get an education that won't even guarantee me a job that could get me out of that debt. If it were free, I'd gladly go, but with the student debt crisis going on, I'm not really that eager to join in, especially when the education system is broken to begin with.
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My opinion, college isn't worth it. It's not worth being sent into debt for the rest of my life just to get an education that won't even guarantee me a job that could get me out of that debt. If it were free, I'd gladly go, but with the student debt crisis going on, I'm not really that eager to join in, especially when the education system is broken to begin with.
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Tom
I graduated in 2018 Summa Cum Laude with my Bachelor of Science in Finance and was in 4 honors societies. Additionally, I'm an accomplished Toastmaster and am about to achieve the highest honor of Distinguished Toastmaster.
I've put in over 150 applications and can't get hired anywhere. This video made me sad. :-p Thank goodness I graduated with $0 debt!
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I graduated in 2018 Summa Cum Laude with my Bachelor of Science in Finance and was in 4 honors societies. Additionally, I'm an accomplished Toastmaster and am about to achieve the highest honor of Distinguished Toastmaster.
I've put in over 150 applications and can't get hired anywhere. This video made me sad. :-p Thank goodness I graduated with $0 debt!
reply
160p2GHz
Mate, saying two fractions in a row doesn't make them related. Literally no one I know with 6 figure debt dropped out of college. Just because a lot of people drop out doesn't mean those are the people with the bad debt. Objectively they are going to have less debt than they would have if they stayed in. Who even wrote this episode?
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Mate, saying two fractions in a row doesn't make them related. Literally no one I know with 6 figure debt dropped out of college. Just because a lot of people drop out doesn't mean those are the people with the bad debt. Objectively they are going to have less debt than they would have if they stayed in. Who even wrote this episode?
reply
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