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Valuing Medical Schools in Japan: National versus Private Universities

Author

Listed:
  • Mototsugu Fukushige

    (Graduate School of Economics, Osaka University)

  • Hideo Yunoue

    (Graduate School of Economics, Osaka University)

Abstract

Medical school usually has the highest tuition fees among the university departments. The reason why students pay such expensive fees is that they estimate that their earnings will greatly increase after graduation. We construct a model about student behavior on entering college and estimate the value-added of medical schools using college data from Japan. Our results show that a school with a long tradition of providing high quality education is evaluated as rendering high value-added to students. Those empirical results enable us to simulate the effects of the privatization of a public university. This simulation indicates that there is no difference between public and private schools when the tuition fees of the public university become as high as those of the private university.

Suggested Citation

  • Mototsugu Fukushige & Hideo Yunoue, 2006. "Valuing Medical Schools in Japan: National versus Private Universities," Discussion Papers in Economics and Business 06-02, Osaka University, Graduate School of Economics.
    • Handle: RePEc:osk:wpaper:0602
    as

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    File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/0602.pdf
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    References listed on IDEAS

    as
    1. Epple, Dennis & Figlio, David & Romano, Richard, 2004. "Competition between private and public schools: testing stratification and pricing predictions," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1215-1245, July.
    2. Spetz, Joanne, 2002. "The value of education in a licensed profession: the choice of associate or baccalaureate degrees in nursing," Economics of Education Review, Elsevier, vol. 21(1), pages 73-85, February.
    3. Frank A. Sloan, 1971. "The Demand for Higher Education: The Case of Medical School Applicants," Journal of Human Resources, University of Wisconsin Press, vol. 6(4), pages 466-489.
    4. Quinn, Robert & Price, Jamie, 1998. "The demand for medical education: an augmented human capital approach," Economics of Education Review, Elsevier, vol. 17(3), pages 337-347, June.
    5. John Cawley & James Heckman & Edward Vytlacil, 1999. "On Policies To Reward The Value Added By Educators," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 720-727, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Value-added of University; Medical school tuition fee; Public and private schools; Privatization;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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