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The Private and Social Benefits of Double Majors

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  • Del Rossi, Alison F.
  • Hersch, Joni

Abstract

With increased emphasis on encouraging students to pursue degrees in science, technology, engineering, and math (STEM), there is a general concern that society is losing the benefits associated with liberal arts education. One possible approach to achieving the benefits of higher paying STEM degrees along with the social benefits of liberal arts training is to encourage double majoring among college students. Double majoring is common at about 20% of college graduates, yet most double majors are in related areas that provide limited educational diversity. We examine private and social benefits of double majoring using data from the 2010 National Survey of College Graduates. The strongest positive relations associated with combining a liberal arts major with a business or STEM major are on research and development activities and on job match. In addition, we find that students who double major in business and STEM earn a premium over those single majors. However, combining a liberal arts major with STEM or business fields does not increase earnings, indicating little private earnings incentive for students to combine STEM or business majors with liberal arts.

Suggested Citation

  • Del Rossi, Alison F. & Hersch, Joni, 2016. "The Private and Social Benefits of Double Majors," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 7(2), pages 292-325, July.
    • Handle: RePEc:cup:jbcoan:v:7:y:2016:i:02:p:292-325_00
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    Cited by:

    1. Kevin M. Kniffin & Andrew S. Hanks & Xuechao Qian & Bo Wang & Bruce A. Weinberg, 2020. "Dissertators with Distantly Related Foci Face Divergent Near-Term Outcomes," NBER Working Papers 27825, National Bureau of Economic Research, Inc.
    2. Hanks, Andrew S. & Jiang, Shengjun & Qian, Xuechao & Wang, Bo & Weinberg, Bruce, 2023. "Do Double Majors Face Less Risk? An Analysis of Human Capital Diversification," 2023 Annual Meeting, July 23-25, Washington D.C. 336016, Agricultural and Applied Economics Association.
    3. Qiong Zhu & Liang Zhang, 2021. "Effects of a Double Major on Post-Baccalaureate Outcomes," Education Finance and Policy, MIT Press, vol. 16(1), pages 146-169, Winter.
    4. Andrew S. Hanks & Kevin M. Kniffin & Xuechao Qian & Bo Wang & Bruce A. Weinberg, 2022. "First Foot Forward: A Two-Step Econometric Method for Parsing and Estimating the Impacts of Multiple Identities," NBER Working Papers 30293, National Bureau of Economic Research, Inc.

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