Empir Econ https://doi.org/10.1007/s00181-018-1418-7 1 2 Sofoklis Goulas · Rigissa Megalokonomou Received: 5 December 2016 / Accepted: 9 January 2018 © Springer-Verlag GmbH Germany, part of Springer Nature 2018 Abstract We examine how changes in the unemployment rate affect demand for tertiary education, demand for different ﬁelds of university study and degrees’ admis- sion thresholds. We use panel data for applications submitted to every undergraduate program in Greece that span seven rounds of admission cohorts combined with a degree-speciﬁc job insecurity index, and time series on youth (ages 18–25) unem- ployment. We ﬁnd that degree- and major-speciﬁc job insecurity turns applicants away from degrees and majors that are associated with poor employment prospects. Results indicate that the steep increase in the unemployment rate that started in 2009 is associated with an increase in the number of university applicants. The effect is heterogeneous across ﬁelds, with an increase in the demand for degrees in Psychology as well as for entrance to Naval, Police, and Military Academies, and a decrease in the demand for degrees in Business and Management. We also ﬁnd that the business cycle changes degrees’ admission thresholds by affecting their popularity. Keywords Demand for education · University major ·
Empirical Economics – Springer Journals
Published: Jun 6, 2018
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