Efficiency of college education in the labor market of the united states

Author

Alpert, William ; Vaninsky, Alexander

Author_Institution

Dept. of Econ., Univ. of Connecticut, Stamford, CT, USA

fYear

2014

fDate

3-5 April 2014

Firstpage

1

Lastpage

5

Abstract

The paper discusses the worthiness of the resources allocated for college education from the point of view of their value in the labor market. We use Data Envelopment Analysis (DEA) to weigh the share of GDP spent on a college education and weighted time of labor force college study against productivity, employment rate, and labor force participation. We received that in the U.S. labor market the efficiency of a college education had no statistically significant tendency to increase or decrease over the period of 1980-2010 but was closely related to the business cycles with a lag of one year.

Keywords

data envelopment analysis; economic indicators; employment; further education; labour resources; productivity; DEA; GDP; US labor market; United States; business cycles; college education; data envelopment analysis; employment rate; labor force college study; labor force participation; productivity; Business; Economic indicators; Educational institutions; Employment; Force; College education; Data Envelopment Analysis; Efficiency; Employment rate; Labor force participation; Labor force productivity;

fLanguage

English

Publisher

ieee

Conference_Titel

American Society for Engineering Education (ASEE Zone 1), 2014 Zone 1 Conference of the

Conference_Location

Bridgeport, CT

Print_ISBN

978-1-4799-5232-8

Type

conf

DOI

10.1109/ASEEZone1.2014.6820633

Filename

6820633