benjamin5_PPT_09

benjamin5_PPT_09 - Chapter Nine Human Capital Theory:...

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Chapter 9-1 Chapter Nine Human Capital Theory: Applications to Education and Training Modified from Slides Created by Erica Morrill
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Chapter 9-2 Chapter Focus Factors that determine the market rate of return to education Is education economically worthwhile? Is education a predictor of greater productivity? Market signaling and screening Government-funded training programs
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Chapter 9-3 Human Capital Theory Investments are made to improve productivity and earnings Costs incurred with the expectation of future benefits Investment takes place when benefits exceed costs by a significant amount
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Chapter 9-4 Costs Direct costs books, tuition Opportunity cost forgone income Private Costs vs Social Costs
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Chapter 9-5 Figure 9.1 Alternative Income Streams Earnings 16 18 22 d Direct costs a Stream A b e Stream B c f Stream C
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Chapter 9-6 Age-Earnings Profiles Increase with age but at a decreasing rate Higher for those with more education
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Chapter 9-7 Choosing an Income Stream
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This note was uploaded on 02/05/2011 for the course ECON 3610 taught by Professor Steve during the Fall '11 term at York University.

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benjamin5_PPT_09 - Chapter Nine Human Capital Theory:...

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