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An Economic Analysis Of The Market For Law School Students, Ronald G. Ehrenberg Jan 2013

An Economic Analysis Of The Market For Law School Students, Ronald G. Ehrenberg

Ronald G. Ehrenberg

This study utilizes data from a number of sources to estimate how lawyers' starting salaries relate to their ability, the quality of law school they attended, and whether the law school was a private institution. Based upon this analysis, a benefit—cost analysis is conducted of the value of attending a high-quality private institution. Analyses are also done of how the financial attractiveness of law vis-a-vis other careers has changed in recent years and a conceptual framework discussed for law schools to use in allocating their financial aid resources.


Studying Ourselves: The Academic Labor Market (Presidential Address To The Society Of Labor Economists, Baltimore, May 3, 2002), Ronald G. Ehrenberg Aug 2012

Studying Ourselves: The Academic Labor Market (Presidential Address To The Society Of Labor Economists, Baltimore, May 3, 2002), Ronald G. Ehrenberg

Ronald G. Ehrenberg

[Excerpt] The study of academic labor markets by economists goes back at least to Adam Smith’s suggestion in The Wealth of Nations that a professor’s compensation be tied to the number of students that enrolled in his classes. This article focuses on three academic labor market issues that students at Cornell and I are currently addressing: the declining salaries of faculty employed at public colleges and universities relative to the salaries of their counterparts employed at private higher education institutions, the growing dispersion of average faculty salaries across academic institutions within both the public and private sectors, and ...


Academic Labor Supply, Ronald G. Ehrenberg Aug 2012

Academic Labor Supply, Ronald G. Ehrenberg

Ronald G. Ehrenberg

[Excerpt] The plan of this study is as follows. In the remainder of this chapter, some background data are presented on the academic labor market and new Ph.D. production in the United States. Chapter 7 describes a schematic model of academic labor supply and indicates the underlying trends since 1970 in a number of variables that contribute to projections of shortages of faculty. In Chapter 8, a general model of occupational choice and the decision to undertake and complete graduate study is sketched. This framework, available data, and the prior academic literature are then used to address students' choice ...


Educational Progress And Economic Development, Gary S. Fields Nov 2011

Educational Progress And Economic Development, Gary S. Fields

Gary S Fields

[Excerpt] Many development agencies seek to channel economic assistance to those less-developed countries (LDCs) and activities that will help the poor to achieve a better life (this phraseology is from the U.S. Foreign Assistance Act as amended in 1975). Education is an important indicator of countries' performance. This chapter examines the suitability of alternative education indicators as guides for planning and evaluating countries' progress and commitment toward increasing the participation of the poor in development.


Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus Sep 2011

Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus

Gary S Fields

[Excerpt] Between 1980 and 1992, the enormous changes in economic development in Taiwan had significant impacts on the island's labour market. Examples of these changes include the island's almost legendary and meteoric economic growth, the maintenance of essentially full employment, an increase of around 116 per cent in real labour earnings, considerable upgrading of the educational qualifications of the labour force as a whole, a sustained and systematic shift in the composition of the labour force from agriculture into manufacturing and services and occupational upgrading (defined as the expansion of the share of the labour force in the ...


Are National Exit Examinations Important For Educational Efficiency?, John H. Bishop Oct 2009

Are National Exit Examinations Important For Educational Efficiency?, John H. Bishop

John H Bishop

“This paper analyses effects of national or provincial exit examinations on education quality. On theoretical grounds, the paper argues that such examinations should increase high school achievement, particularly in examination subjects, and that teachers and students and parents and school administrators should focus more on academic achievement when making school-quality decisions. On the negative side, exit examinations may lead to a tendency to concentrate on learning facts, rather than understanding contexts.”


The Impacts Of School-Business Partnerships On The Early Labor-Market Success Of Students, John H. Bishop, Ferran Mane Oct 2009

The Impacts Of School-Business Partnerships On The Early Labor-Market Success Of Students, John H. Bishop, Ferran Mane

John H Bishop

[Excerpt] This chapter examines the effects of improved signaling of student achievement in high school on the labor market success of recent high-school graduates. The chapter is organized into three sections. In the first section, we reproduce the argument that Bishop put forth in 1985 that better signaling of student achievement to employers would improve the quality of the jobs that recent high-school graduates could obtain and strengthen incentives to learn. In the second section, we analyze longitudinal data on eight graders in 1988 and attempt to measure the effect of school-employer partnerships on their subsequent success in the labor ...


Some Thoughts On The Cost Effectiveness Of Graduate Education Subsidies, John H. Bishop Oct 2009

Some Thoughts On The Cost Effectiveness Of Graduate Education Subsidies, John H. Bishop

John H Bishop

[Excerpt] How much should doctorate training be subsidized? The answer proposed is, "Doctorate training should be subsidized to the extent and only to the extent that it produces externality or public benefits – i.e. benefits received by people other than the one receiving the diploma." This value judgment derives from three propositions: (1) In general, an adult knows better than anyone else what is best for himself; (2) the price (measured in both time and money) he is willing to pay for graduate education is the best measure of how much he values it relative to other offerings; and (3 ...


Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus Jan 2007

Education And Taiwan’S Changing Employment And Earnings Structure, Gary S. Fields, Amanda Newton Kraus

Articles and Chapters

[Excerpt] Between 1980 and 1992, the enormous changes in economic development in Taiwan had significant impacts on the island's labour market. Examples of these changes include the island's almost legendary and meteoric economic growth, the maintenance of essentially full employment, an increase of around 116 per cent in real labour earnings, considerable upgrading of the educational qualifications of the labour force as a whole, a sustained and systematic shift in the composition of the labour force from agriculture into manufacturing and services and occupational upgrading (defined as the expansion of the share of the labour force in the ...


Do Cognitive Test Scores Explain Higher U.S. Wage Inequality?, Francine D. Blau, Lawrence M. Kahn Dec 2003

Do Cognitive Test Scores Explain Higher U.S. Wage Inequality?, Francine D. Blau, Lawrence M. Kahn

Articles and Chapters

Using microdata from the 1994-8 International Adult Literacy Survey (IALS) for nine countries, we examine the role of cognitive skills in explaining higher wage inequality in the United States. We find that while the greater dispersion of cognitive test scores in the United States plays a part in explaining higher U.S. wage inequality, higher labor market prices (i.e., higher returns to measured human capital and cognitive performance) and greater residual inequality still play important roles, and are, on average, quantitatively considerably more important than differences in the distribution of test scores in explaining higher U.S. wage inequality.


Studying Ourselves: The Academic Labor Market (Presidential Address To The Society Of Labor Economists, Baltimore, May 3, 2002), Ronald G. Ehrenberg Apr 2003

Studying Ourselves: The Academic Labor Market (Presidential Address To The Society Of Labor Economists, Baltimore, May 3, 2002), Ronald G. Ehrenberg

Articles and Chapters

[Excerpt] The study of academic labor markets by economists goes back at least to Adam Smith’s suggestion in The Wealth of Nations that a professor’s compensation be tied to the number of students that enrolled in his classes. This article focuses on three academic labor market issues that students at Cornell and I are currently addressing: the declining salaries of faculty employed at public colleges and universities relative to the salaries of their counterparts employed at private higher education institutions, the growing dispersion of average faculty salaries across academic institutions within both the public and private sectors, and ...


The Impacts Of School-Business Partnerships On The Early Labor-Market Success Of Students, John H. Bishop, Ferran Mane Jan 2003

The Impacts Of School-Business Partnerships On The Early Labor-Market Success Of Students, John H. Bishop, Ferran Mane

Articles and Chapters

[Excerpt] This chapter examines the effects of improved signaling of student achievement in high school on the labor market success of recent high-school graduates. The chapter is organized into three sections. In the first section, we reproduce the argument that Bishop put forth in 1985 that better signaling of student achievement to employers would improve the quality of the jobs that recent high-school graduates could obtain and strengthen incentives to learn. In the second section, we analyze longitudinal data on eight graders in 1988 and attempt to measure the effect of school-employer partnerships on their subsequent success in the labor ...


Academic Education And Occupational Training, John H. Bishop Jun 2001

Academic Education And Occupational Training, John H. Bishop

Articles and Chapters

“Most of the young people entering professional, technical, and managerial occupations start their occupational training in a school. Higher education is predominantly occupational education and is becoming more 80 each year. In 1980-81, only 17 percent of rnaster9s degrees and 33 percent of bachelor's degrees were in traditional liberal arts fields. Many of those who get these degrees remain in school to get a Ph.D., M.D., D.D.S. or L.L.B., all of which certify three or more years of intensive occupational training. Consequently, almost all college graduates obtain training for a particular occupation before ...


Are National Exit Examinations Important For Educational Efficiency?, John H. Bishop Sep 1999

Are National Exit Examinations Important For Educational Efficiency?, John H. Bishop

Articles and Chapters

“This paper analyses effects of national or provincial exit examinations on education quality. On theoretical grounds, the paper argues that such examinations should increase high school achievement, particularly in examination subjects, and that teachers and students and parents and school administrators should focus more on academic achievement when making school-quality decisions. On the negative side, exit examinations may lead to a tendency to concentrate on learning facts, rather than understanding contexts.”


The Effect Of Curriculum-Based External Exit Exam Systems On Student Achievement, John H. Bishop Mar 1998

The Effect Of Curriculum-Based External Exit Exam Systems On Student Achievement, John H. Bishop

Articles and Chapters

[Excerpt] Two presidents, the National Governors Association, and numerous blue-ribbon panels have called for the development of state or national content standards for core subjects and examinations that assess student achievement of these standards. The Competitiveness Policy Council, for example, advocated that "external assessments be given to individual students at the secondary level and that the results should be a major but not exclusive factor qualifying for college and better jobs at better wages." It is claimed that curriculum-based external exit exam systems (CBEEESs) based on explicit content standards will improve the teaching and learning of core subjects. What evidence ...


The Worsening Shortage Of College-Graduate Workers, John H. Bishop, Shani Carter Sep 1991

The Worsening Shortage Of College-Graduate Workers, John H. Bishop, Shani Carter

Articles and Chapters

The Bureau of Labor Statistics (BLS) projections of occupational employment growth have consistently underpredicted the growth of skilled occupations. BLS currently projects that professional, technical, and managerial jobs will account for 44.5% of employment growth between 1988 and 2000, while we project they will account for 70% of employment growth. Between March 1988 and March 1991 these occupations, in fact, accounted for 87% of employment growth. The BLS's projections of the supply/demand balance for college graduates have also been off the mark-predicting a surplus for the 1980s when, in fact, a shortage developed, and relative wage ratios ...


Academic Labor Supply, Ronald G. Ehrenberg Jan 1991

Academic Labor Supply, Ronald G. Ehrenberg

Articles and Chapters

[Excerpt] The plan of this study is as follows. In the remainder of this chapter, some background data are presented on the academic labor market and new Ph.D. production in the United States. Chapter 7 describes a schematic model of academic labor supply and indicates the underlying trends since 1970 in a number of variables that contribute to projections of shortages of faculty. In Chapter 8, a general model of occupational choice and the decision to undertake and complete graduate study is sketched. This framework, available data, and the prior academic literature are then used to address students' choice ...


Why The Apathy In American High Schools?, John H. Bishop Jan 1989

Why The Apathy In American High Schools?, John H. Bishop

Articles and Chapters

[Excerpt] Yes, it is a classic chicken versus egg problem. We assign teachers the responsibility for setting high standards but we do not give them any of the tools that might be effective for inducing student observance of the academic goals of the classroom. They finally must rely on the force of their own personalities. All too often teachers compromise academic demands because the majority of the class sees no need to accept them as reasonable and legitimate.


An Economic Analysis Of The Market For Law School Students, Ronald G. Ehrenberg May 1988

An Economic Analysis Of The Market For Law School Students, Ronald G. Ehrenberg

Articles and Chapters

This study utilizes data from a number of sources to estimate how lawyers' starting salaries relate to their ability, the quality of law school they attended, and whether the law school was a private institution. Based upon this analysis, a benefit—cost analysis is conducted of the value of attending a high-quality private institution. Analyses are also done of how the financial attractiveness of law vis-a-vis other careers has changed in recent years and a conceptual framework discussed for law schools to use in allocating their financial aid resources.


Educational Progress And Economic Development, Gary S. Fields Jan 1982

Educational Progress And Economic Development, Gary S. Fields

Articles and Chapters

[Excerpt] Many development agencies seek to channel economic assistance to those less-developed countries (LDCs) and activities that will help the poor to achieve a better life (this phraseology is from the U.S. Foreign Assistance Act as amended in 1975). Education is an important indicator of countries' performance. This chapter examines the suitability of alternative education indicators as guides for planning and evaluating countries' progress and commitment toward increasing the participation of the poor in development.


Some Thoughts On The Cost Effectiveness Of Graduate Education Subsidies, John H. Bishop Jul 1974

Some Thoughts On The Cost Effectiveness Of Graduate Education Subsidies, John H. Bishop

Articles and Chapters

[Excerpt] How much should doctorate training be subsidized? The answer proposed is, "Doctorate training should be subsidized to the extent and only to the extent that it produces externality or public benefits – i.e. benefits received by people other than the one receiving the diploma." This value judgment derives from three propositions: (1) In general, an adult knows better than anyone else what is best for himself; (2) the price (measured in both time and money) he is willing to pay for graduate education is the best measure of how much he values it relative to other offerings; and (3 ...


The Private Demand For Education In Relation To Labor Market Conditions In Less Developed Countries, Gary S. Fields Oct 1972

The Private Demand For Education In Relation To Labor Market Conditions In Less Developed Countries, Gary S. Fields

Working Papers

[Excerpt] In this paper, we construct a model of the demand for education in relation to labor market conditions in less developed countries to try to understand why a high demand for education might be expected to persist in countries characterized by a substantial surplus of educated labor. It might be argued that the continued demand for education merely reflects the failure of citizens to adjust their behavior to current labor market conditions. This position implies that the demand for education will fall, perhaps drastically, as expectations come into line with reality. However, in contrast to this position, we demonstrate ...