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| Title: | The costs and benefits of doctoral education in economics in South Africa |
| Author: | Hosking, S.G. |
| Year: | 1997 |
| Periodical: | South African Journal of Economics |
| Volume: | 65 |
| Issue: | 2 |
| Pages: | 245-257 |
| Language: | English |
| Geographic term: | South Africa |
| Subjects: | educational financing economics education |
| External link: | https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.1997.tb01362.x/pdf |
| Abstract: | Budget constraints have brought about a situation in South Africa where choices must be made as to how expenditure on education is allocated between sectors. International advice is that expenditure on schooling should be prioritized above higher education. However, a case study undertaken for the African Economic Research Consortium on investment in education at the highest level, doctoral economics, indicates that the benefits of this category of education are substantial and outweigh the costs. Three categories of costs attached to doctoral education in economics in South Africa were identified: tuition costs, research costs and foregone earnings. Three main categories of benefits were considered: improved teaching, work capacity and research output for which remuneration is paid, transfers of research outputs and information to other workers for which no remuneration is paid, and consumption. The analysis shows that most of the investors are white males and that this investment will probably yield substantial positive social and private returns. Therefore both private and public incentives are strong to invest in doctoral education in economics in South Africa. Bibliogr., notes, ref. |
