ERIC Number: ED021951
Record Type: RIE
Publication Date: 1968-Jan
Reference Count: 0
Investments in Education for Farmers; Summary of an Economic Study of the Investment Effects of Education in Agriculture.
Persons, Edgar A.; And Others
To investigate the value of an educational investment for farmers and the community, a study was initiated to examine the relationships between costs and benefits. An instructional program in farm business and resource management from 1959-65 was considered as the educational investment, and benefits were assessed by examining 3,518 business records of enrolled farmers. A benefit-cost analysis revealed: (1) A farmer can expect to realize about $4 of labor earnings for each dollar of investment in educational programs in farm business and resource management, (2)Where the benefits to the community were calculated as an aggregate rise in farm labor earnings and the cost included the aggregate cost borne by the community the ratio was approximately 2:1; where the cost included farm sales as a measure of business activity the ratio was 9:1, (3) Diminishing marginal return effects were observable in educational investments, (4) Over the 6-year period the cost effectiveness of the educational program was not constant, and (5) A rigorous, highly structured, and goal directed educational program in farm business management proved to be an excellent educational investment for the communities in this study. This report is a summary of VT 004 315. (DM)
Publication Type: N/A
Education Level: N/A
Sponsor: Office of Education (DHEW), Washington, DC.
Authoring Institution: Minnesota Univ., St. Paul.