Archive for October 3rd, 2009

The Economics of Education

27lede-600In this week’s New York Times Magazine—“The School Issue”—there is a short piece debating whether or not a college education is “worth it.” David Leonhardt outlines various schools of thought: On the one hand, people who earn a college degree earn substantially more than those who do not, far more than the cost of the degree itself. On the other hand, though, college-bound high school graduates are likely a more intelligent/driven bunch than those who don’t go to school at all; this group would probably be more successful even without college.

While it seems obvious to me, and to Leonhardt by the end of the piece, that a college degree is worth the hefty price, it’s less clear to me how the price should affect the choice of a particular school. Continue reading