Heterogeneity in the returns to higher education
Abstract
This paper focusses on the heterogeneity in the returns to an undergraduate (UG) degree across subjects and institutions. The context is the current UK debate about the value of higher education UK and the most appropriate way of designing funding for students. The results from recent research show large differences in the returns across UG courses. The returns to a small number of subjects (mostly STEM plus Economics and Medicine) at (mostly elite) institutions generate significantly higher returns than do courses in the middle of the distribution if returns. And ...
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