Which degrees do students prefer during recessions?

Which degrees do students prefer during recessions? 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 · http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Empirical Economics Springer Journals

Which degrees do students prefer during recessions?

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Publisher
Springer Berlin Heidelberg
Copyright
Copyright © 2018 by Springer-Verlag GmbH Germany, part of Springer Nature
Subject
Economics; Econometrics; Statistics for Business/Economics/Mathematical Finance/Insurance; Economic Theory/Quantitative Economics/Mathematical Methods
ISSN
0377-7332
eISSN
1435-8921
D.O.I.
10.1007/s00181-018-1418-7
Publisher site
See Article on Publisher Site

Abstract

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 ·

Journal

Empirical EconomicsSpringer Journals

Published: Jun 6, 2018

References

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