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Surveys conducted in some of the world's most developed countries have demonstrated that there is a positive relationship between the level of education and the level of income. According to the human capital theory, this effect is due to the growth of productivity. But education is also associated with costs. These costs can be divided into the direct costs of studying and opportunity costs. Thanks...
The author calculates the value of potential paychecks lost by those who enroll for college studies instead of starting a professional career directly after graduation from high school. He also determines the total cost of university-level education depending on individual types of studies and economic sectors and estimates the period after which the incomes of people with a secondary education and...
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