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ERIC Number: ED010639
Record Type: RIE
Publication Date: 1966-Nov
Pages: 106
Abstractor: N/A
Reference Count: 0
ISBN: N/A
ISSN: N/A
ECONOMICS OF GRADUATE EDUCATION--AN EXPLORATORY STUDY.
BUTTER, IRENE H.
AN ATTEMPT WAS MADE TO DEVELOP A SINGLE SET OF DEFINITIONS, CONCEPTS, AND MEASUREMENT TOOLS TO BE APPLIED UNIFORMLY TO COST ANALYSES OF FOUR PH.D. PROGRAMS IN PHYSICS, ZOOLOGY, SOCIOLOGY, AND ENGLISH. TO GATHER THE REQUIRED INFORMATION ON THE NATURE OF THE COST ESTIMATES WHICH ARE IMPLICIT IN THE SUBSEQUENT RATE OF RETURN ANALYSIS, SITE VISITS WERE MADE TO 12 UNIVERSITIES. THE RESEARCH PHASE OF DOCTORAL PROGRAMS WAS DELINEATED AND ITS COST AS A COMPONENT OF THE TOTAL COST OF TRAINING PH.D.'S WAS ESTIMATED. IN ADDITION, OPPORTUNITY COSTS, COSTS OF UTILIZING PHYSICAL FACILITIES, AND THE INDIRECT OR SUPPLEMENTAL COST ELEMENTS WERE ESTIMATED. TABLES OF MEASURABLE RELATIVE RATES OF RETURN TO GRADUATE EDUCATION WERE CONSTRUCTED. WHILE THE RELATIVE MAGNITUDES OF UNMEASURED EXTERNAL CONTRIBUTIONS MADE BY THE PH.D.'S UNDER STUDY WERE NOT IDENTIFIABLE, THE MEASURABLE FINDINGS POINTED TO LOWER INVESTMENT YIELDS FOR ENGLISH AND SOCIOLOGY PH.D'S. IF BOTH DOCTORAL PROGRAMS COULD BE ACCELERATED, THEN THE NUMBER OF YEARS THAT ONE WOULD HAVE TO FOREGO INCOME WOULD BE LESSENED. WHILE THE COST OF TRAINING PER YEAR OF GRADUATE STUDY WOULD NOT GO DOWN, OPPORTUNITY COSTS, AND THEREFORE TOTAL COSTS, WOULD BE LESSENED. ALTHOUGH ACCELERATED PROGRAMS WOULD SERVE TO NARROW THE DIFFERENTIALS BETWEEN RATES OF RETURN OF THE NATURAL SCIENCES AND THOSE OF ENGLISH AND SOCIOLOGY, THIS ADJUSTMENT BY ITSELF WOULD NOT LIKELY BRING THE RATES OF RETURN INTO EQUILIBRIUM. (GD)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: Michigan Univ., Ann Arbor.
Identifiers: MICHIGAN; Michigan (Ann Arbor)