THE PRICE OF HIGHER EDUCATION AND INDIVIDUAL DEMAND
DOI:
https://doi.org/10.5195/emaj.2012.19Abstract
The rise in the living standards in most of the world, the rise in population and schooling rates have increased the demand for higher education. The attribution of semi public property becomes determinant to decide whom will provide the supply and the production in semi public properties is realized by means of a supply and demand mechanism. The supply of higher education is mostly secured in accordance with the public demand as well as the resources available. In addition, the fact that higher education services have produced significant benefits has led to over demand. This situation relates to a simple economic rule that a commodity or service which costs almost nothing or little will increase until the mariginal benefit of its demand equals to 0 or almost 0. However, the educational supply and demand is difficult to identify in accordance to the supply and demand and balance of price as observed in the economic theory. The high profits that would be attracted in the future are significant factors influencing individual’s decisions for investment. The decision for investment depends on the possible return in the future, the cost of investment, and the current interest rates. Higher education with investment purposes is influenced by these three factors and higher education is demanded more and more by individuals on the expectation that they will gain high profits In theory, it is accepted that the basic factors identifying the demand for higher education are in harmony with empirical research results in several countries including Turkey.
References
Akalın, G. (1980), Yükseköğretim Karma Malına Maliyet- Fayda Analizi’nin Uygulanması, Ankara: Ankara Ün. Siyasal Bil. Fak. Yayınları No: 444,ss. 82-93.
Aslan, M. H. (2002), Eğitim finansmanının ekonomi politiği ve yükseköğretimde adil ve etkin finansman politikaları, Liberal Düşünce 7(28), ss. 225-46.
Becker, G. (1967), Human Capital And Personal Distribution Of Income, Ann Arbor, University Of Michagan Press, p.1-12.
Cohn, E. (1979), The Economics Of Education, Cambridge: Ballinger Publishing. pp.258-67.
Coulson, A. (1996), Markets versus monopolies in education: The historical evidence, Education Policy Analysis Archives-A Peer-Reviewed Scholarly Electronic Journal, 4(9), June. Received from http://www.epaa.asu.edu , (21.7.2008).
Gershuny, J. Iand Giarini, E. (Eds.), (1987), The Future Of Service Employment İn The Emerging Service Economy, New-York: Pergamon Books, pp.105-15.
Gölpek, F. (2008), Adalet ve Etkinlik Amaçları Bakımından Yükseköğretimde Finansman Politikası: Türkiye Örneği, Yayınlanmamış Doktora Tezi. Uludağ Üniversitesi, Bursa, ss.272-79.
Hans,W. (2005), Internationalization of Higher Education in Argentina, USA: World Bank.
Kesik, A. (2005), Yükseköğrenimde Yeni Bir Finansman Modeli Önerisi: Bütünsel Model. Ankara: Maliye Bakanlığı, Araştırma, Planlama ve Koordinasyon Kurulu Başkanlığı Yayın No:2003/362.
Le Grand, J. and Robinson, R. (1984), The Economics Of Social Problems. London: McMillan Press, p.58.
McMahon, W. (1994), Eğitimin Dışsallıkları, Eğitim Ekonomisi: Seçme Yazılar (Çev. Yüksel Kavak ve Berrin Burgaz). Ankara: Pegem Yayınları, ss.29-38.
OECD (2010), Education at a glance, Received from http://www.oecd.org/bookshop/ (12.03.2010)
Psacharopoulos, G. (1985), Returns to education: a further update internatıonal and implications, The Journal of Human Resources 20 (4), pp.117-128.
Psacharopoulos, G (2008), Funding universities for efficiency and equity: Research findings versus petty politics, Education Economics, 16(3), September, pp.245-250, 246.
Rozada, M. G. and Menendez, A. (2002), Public university in Argentina: Subsidizing the rich?, Economics of Education Review 21(4), August, pp.348-351.
Saxton, J. (2000), Investment in education: Private and public returns, Joint Economic Committee United States Congress, January, pp.3-7.
Siphambe, H.K. (2000), Rates of return to education in Bostwana, Economics of Education Review 19(3), June, pp.291-300.
The World Bank (1997), World Development Report, Washington D.C., pp.71.
TÜİK, (2008), Haber bülteni, Sayı:79 [Online] Retrieved on, 17-March-2011, at URL: http://www.tuik.gov.tr
TÜİK, (2011), İşsizlik Rakamları, Haber Bülteni, Sayı:79 [Online] Retrieved on, 17-March-2011, at URL: http://www.tuik.gov.tr
Uluatam, Ö. (1987), Makro İktisat, Savaş Yayınları, 6.baskı, Ankara, ss.145.
Unay, C.(2001), Makro Ekonomi, Vipaş A.Ş, Bursa, 8.baskı, ss.80-81.
Vawda, A. (2001), Human Development Network, Education Team, And, East Asia And Pacific Regio. Human Development Sector Unit. The World Bank, Washington, DC.
Vedder, R.(2004), Private vs. social returns to higher education: Some new cross-secional evidence, Journal of Labor Research, Fall, 25(4), pp.677-86.
Wabu, G. and Schultz, T. (1996), Education returns acroos quantiles of the wage function: Alternative explanations for returns to education by race in South Africa, American Economic Rewiev 86(3), June, pp.584-609.
Woodhall, M.(1994), Eğitim Ekonomisi: Toplu Bir Bakış, Eğitim Ekonomisi: Seçilmiş Yazılar, Çev. Yüksel Kavak ve Berrin Burgaz, Ankara: PEGEM Yayınları No.14.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
- The Author retains copyright in the Work, where the term “Work” shall include all digital objects that may result in subsequent electronic publication or distribution.
- Upon acceptance of the Work, the author shall grant to the Publisher the right of first publication of the Work.
- The Author shall grant to the Publisher and its agents the nonexclusive perpetual right and license to publish, archive, and make accessible the Work in whole or in part in all forms of media now or hereafter known under a Creative Commons Attribution 4.0 International License or its equivalent, which, for the avoidance of doubt, allows others to copy, distribute, and transmit the Work under the following conditions:
- Attribution—other users must attribute the Work in the manner specified by the author as indicated on the journal Web site;
- The Author is able to enter into separate, additional contractual arrangements for the nonexclusive distribution of the journal's published version of the Work (e.g., post it to an institutional repository or publish it in a book), as long as there is provided in the document an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post online a prepublication manuscript (but not the Publisher’s final formatted PDF version of the Work) in institutional repositories or on their Websites prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work. Any such posting made before acceptance and publication of the Work shall be updated upon publication to include a reference to the Publisher-assigned DOI (Digital Object Identifier) and a link to the online abstract for the final published Work in the Journal.
- Upon Publisher’s request, the Author agrees to furnish promptly to Publisher, at the Author’s own expense, written evidence of the permissions, licenses, and consents for use of third-party material included within the Work, except as determined by Publisher to be covered by the principles of Fair Use.
- The Author represents and warrants that:
- the Work is the Author’s original work;
- the Author has not transferred, and will not transfer, exclusive rights in the Work to any third party;
- the Work is not pending review or under consideration by another publisher;
- the Work has not previously been published;
- the Work contains no misrepresentation or infringement of the Work or property of other authors or third parties; and
- the Work contains no libel, invasion of privacy, or other unlawful matter.
- The Author agrees to indemnify and hold Publisher harmless from Author’s breach of the representations and warranties contained in Paragraph 6 above, as well as any claim or proceeding relating to Publisher’s use and publication of any content contained in the Work, including third-party content.
Revised 7/16/2018. Revision Description: Removed outdated link.