IDEAS home Printed from https://ideas.repec.org/a/taf/jeduce/v34y2003i3p263-281.html
   My bibliography  Save this article

Do Economists Make Better Lawyers? Undergraduate Degree Field and Lawyer Earnings

Author

Listed:
  • R. Kim Craft
  • Joe G. Baker

Abstract

Using nationally representative data, the authors examine the effects of preprofessional education on the earnings of lawyers. They specify and estimate a statistical earnings function on the basis of well-established theory and principles. Along with standard control variables, categorical variables are included to represent graduate degrees in addition to the law degree and an assortment of undergraduate major fields. Holding a Ph.D. or M.B.A. degree, with the law degree, is associated with significantly higher earnings in some sectors. Lawyers with undergraduate training in economics earn more than other lawyers, ceteris paribus , and economics is the only undergraduate field associated with earnings that differ significantly. The available evidence supports the hypothesis that economics training increases a lawyer's human capital compared with other undergraduate majors.

Suggested Citation

  • R. Kim Craft & Joe G. Baker, 2003. "Do Economists Make Better Lawyers? Undergraduate Degree Field and Lawyer Earnings," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(3), pages 263-281, January.
  • Handle: RePEc:taf:jeduce:v:34:y:2003:i:3:p:263-281
    DOI: 10.1080/00220480309595220
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00220480309595220
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    2. Gary S. Becker, 1975. "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, Second Edition," NBER Books, National Bureau of Economic Research, Inc, number beck75-1, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John Fordyce & Lisa K Jepsen & Ken McCormick, 2017. "Predicting First-year Law School Performance: The Influences of Race, Gender, and Undergraduate Major," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 43(1), pages 64-77, January.
    2. Del Rossi, Alison F. & Hersch, Joni, 2008. "Double your major, double your return?," Economics of Education Review, Elsevier, vol. 27(4), pages 375-386, August.
    3. John V. Winters, 2016. "Is economics a good major for future lawyers? Evidence from earnings data," The Journal of Economic Education, Taylor & Francis Journals, vol. 47(2), pages 187-191, April.
    4. Sam Allgood & William B. Walstad & John J. Siegfried, 2015. "Research on Teaching Economics to Undergraduates," Journal of Economic Literature, American Economic Association, vol. 53(2), pages 285-325, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:34:y:2003:i:3:p:263-281. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/VECE20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.