Geographic Differences in the Earnings of Economics Majors
AbstractEconomics has been shown to be a relatively high earning college major, but geographic differences in earnings have been largely overlooked. This paper uses the American Community Survey to examine geographic differences in both absolute earnings and relative earnings for economic majors. We find that there are substantial geographic differences in both the absolute and relative earnings of economics majors even controlling for individual characteristics such as age and advanced degrees. We argue that mean earnings in specific labor markets are a better measure of the benefits of majoring in economics than simply looking at national averages.
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Bibliographic InfoPaper provided by Oklahoma State University, Department of Economics and Legal Studies in Business in its series Economics Working Paper Series with number 1405.
Length: 28 pages
Date of creation: Aug 2013
Date of revision:
economics major; earnings differentials; college education; local labor markets;
Other versions of this item:
- Winters, John V. & Xu, Weineng, 2013. "Geographic Differences in the Earnings of Economics Majors," IZA Discussion Papers 7584, Institute for the Study of Labor (IZA).
- I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-08-31 (All new papers)
- NEP-EDU-2013-08-31 (Education)
- NEP-LAB-2013-08-31 (Labour Economics)
- NEP-LMA-2013-08-31 (Labor Markets - Supply, Demand, & Wages)
- NEP-PKE-2013-08-31 (Post Keynesian Economics)
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