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ERIC Number: EJ1053839
Record Type: Journal
Publication Date: 2012-Sep
Pages: 39
Abstractor: As Provided
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-1941-1391
Heterogeneity in Human Capital Investments: High School Curriculum, College Major, and Careers
Altonji, Joseph G.; Blom, Erica; Meghir, Costas
Annual Review of Economics, v4 p185-223 Sep 2012
Motivated by the large differences in labor market outcomes across college majors, we survey the literature on the demand for and return to high school and postsecondary education by field of study. We combine elements from several papers to provide a dynamic model of education and occupation choice that stresses the roles of the specificity of human capital and uncertainty about preferences, ability, education outcomes, and labor market returns. The model implies an important distinction between the ex ante and ex post returns to education decisions. We also discuss some of the econometric difficulties in estimating the causal effects of field of study on wages in the context of a sequential choice model with learning. Finally, we review the empirical literature on the choice of curriculum and the effects of high school courses and college major on labor market outcomes.
Annual Reviews. PO Box 10139, Palo Alto, CA 94303. e-mail: service@annualreviews.org; Web site: http://www.annualreviews.org/journal/economics
Publication Type: Journal Articles; Information Analyses; Reports - Evaluative
Education Level: High Schools; Secondary Education; Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A