Return on Education Using the Concept of Opportunity Cost

D 2021

Return on Education Using the Concept of Opportunity Cost

MARINIČ, Peter

Základní údaje

Originální název

Return on Education Using the Concept of Opportunity Cost

Autoři

MARINIČ, Peter

Vydání

Les Ulis Cedex, SHS Web of Conferences: Current Problems of the Corporate Sector 2021, od s. 1-8, 8 s. 2021

Nakladatel

EDP Sciences

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50204 Business and management

Stát vydavatele

Francie

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

elektronická verze "online"

Odkazy

URL

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14410/21:00122086

Organizační jednotka

Pedagogická fakulta

ISSN

DOI

https://doi.org/10.1051/shsconf/202111502005

Klíčová slova anglicky

Opportunity Cost; Return Rate; Tertiary Education

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 17. 5. 2022 10:04, Mgr. Ing. Peter Marinič, Ph.D.

Anotace

V originále

Education is an important part of individual life. Everyone is learning whether realizing it or not. There is pressure for a longer period of formal education due to the growing volume of knowledge and the need to use it in working life nowadays. In connection with new technologies, there is a need for growing population with tertiary education, but there is also a need for a skilled workforce with appropriate vocational training achieved by upper-secondary education. Formal education takes place mainly in the full-time form, which makes it necessary to give up the possibility of earning income from classic employment relationship. Improving employability at labour market and possibility to get higher net income, forces individuals to stay at education for longer time and to sacrifice possible incomes during the time. Therefore, education is analysed as opportunity costs and the payback period of education is assessed with respect to the increase in the net mean income. The results of the analysis carried out according to data from the Member States of European Union show significant differences in the opportunity cost and in the return on education as investment, both, for tertiary education and for upper-secondary education.

Návaznosti

MUNI/A/1356/2020, interní kód MU

Název: Fyzika, informatika a odborné vzdělávání na základních a středních školách

Investor: Masarykova univerzita, Fyzika, informatika a odborné vzdělávání na základních a středních školách

Citovat

MARINIČ, Peter. Return on Education Using the Concept of Opportunity Cost. Online. In Hrušovská, D., Kmety Barteková, M., Trúchliková, M., & Raková, M. SHS Web of Conferences: Current Problems of the Corporate Sector 2021. Les Ulis Cedex: EDP Sciences, 2021, s. 1-8. ISSN 2261-2424. Dostupné z: https://doi.org/10.1051/shsconf/202111502005.

@inproceedings{1785997,
   author = {Marinič, Peter},
   address = {Les Ulis Cedex},
   booktitle = {SHS Web of Conferences: Current Problems of the Corporate Sector 2021},
   doi = {https://doi.org/10.1051/shsconf/202111502005},
   editor = {Hrušovská, D., Kmety Barteková, M., Trúchliková, M., & Raková, M.},
   keywords = {Opportunity Cost; Return Rate; Tertiary Education},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Les Ulis Cedex},
   pages = {1-8},
   publisher = {EDP Sciences},
   title = {Return on Education Using the Concept of Opportunity Cost},
   url = {https://www.shs-conferences.org/articles/shsconf/pdf/2021/26/shsconf_appsconf2021_02005.pdf},
   year = {2021}
}

TY  - CONF
ID  - 1785997
AU  - Marinič, Peter
PY  - 2021
TI  - Return on Education Using the Concept of Opportunity Cost
PB  - EDP Sciences
CY  - Les Ulis Cedex
KW  - Opportunity Cost
KW  - Return Rate
KW  - Tertiary Education
UR  - https://www.shs-conferences.org/articles/shsconf/pdf/2021/26/shsconf_appsconf2021_02005.pdf
N2  - Education is an important part of individual life. Everyone is learning whether realizing it or not. There is pressure for a longer period of formal education due to the growing volume of knowledge and the need to use it in working life nowadays. In connection with new technologies, there is a need for growing population with tertiary education, but there is also a need for a skilled workforce with appropriate vocational training achieved by upper-secondary education. Formal education takes place mainly in the full-time form, which makes it necessary to give up the possibility of earning income from classic employment relationship. Improving employability at labour market and possibility to get higher net income, forces individuals to stay at education for longer time and to sacrifice possible incomes during the time. Therefore, education is analysed as opportunity costs and the payback period of education is assessed with respect to the increase in the net mean income. The results of the analysis carried out according to data from the Member States of European Union show significant differences in the opportunity cost and in the return on education as investment, both, for tertiary education and for upper-secondary education.
ER  -

MARINIČ, Peter. Return on Education Using the Concept of Opportunity Cost. Online. In Hrušovská, D., Kmety Barteková, M., Trúchliková, M., \&{} Raková, M. \textit{SHS Web of Conferences: Current Problems of the Corporate Sector 2021}. Les Ulis Cedex: EDP Sciences, 2021, s.~1-8. ISSN~2261-2424. Dostupné z: https://doi.org/10.1051/shsconf/202111502005.

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