engleski

Does higher education pay off? – Micro and Macroeconomic policy implications

This paper analyzes personal and social benefits that flow from higher education 'investment'. We identify individual investment payoff education function and associated likelihood with increased personal income, better health, lower unemployment risk, job benefits and self-realization. Our model detects how individual and society can benefit from investing in higher education. Using game theory model we attempt to provide theoretical and empirical evidence on the causal connection between obtaining college degree and private, social benefits. Results will shed new light on how and why investments in higher education provide better growth. Study has important policy implications in the field of human capital and growth theories under assumption that putting additional resources in education guarantees higher growth rates.

higher education, individual investment payoff, game theory

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