ERIC Number: ED021989
Record Type: RIE
Publication Date: 1968-Apr
Reference Count: 0
An Economic Study of the Investment Effects of Education in Agriculture. Final Report.
Persons, Edgar A.; And Others
To determine the absolute economic return to adult farm business management education, the diminishing marginal return effect from added increments of education, and benefit-cost ratio of the educational program for participants and the sponsoring community, data were collected from 3,578 farm business records representing farmers enrolled in farm business management education in 1959-65. Farmers participating in the educational program were generally younger, better educated, and more affluent than the average farmer described in census data. Polynomial curvilinear regression statistical techniques describe the relationship between investment in farm business management education and three measures of economic success: farmer's labor earnings, return to capital and family labor, and total farm sales. Farmer's labor earnings and farm sales increased rapidly during the first three years of instruction, declined for the fourth, fifth, and sixth years and then increased rapidly in subsequent years. The benefit-cost ratio for individual farmer participants was 4.20:1. The community benefit-cost ratio when increased business activity was measured by increased farm sales was 9.00:1. This study assists in establishing a rationale for educational programs to increase community assets and describes an educational model for efficient program operation and growth. A summary of this study is available as VT 000 561. (DM)
Publication Type: N/A
Education Level: N/A
Sponsor: Office of Education (DHEW), Washington, DC. Bureau of Research.
Authoring Institution: Minnesota Univ., St. Paul. Dept. of Agricultural Education.