This study contributes to the literature on returns to education by estimating how years of schooling are a significant contributor of economic returns to education as moderated by age, sex and region…
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This study has analysed returns to education in the UK. This was done using the BHPS data from 1991-2008 by using an OLS regression model adapted from previous studies. The dependent variable was logarithm of hourly wage while the predictor variable tested was years of schooling, controlling for other factors. The control variables were age, sex, race and region. Diagnostic tests was conducted to check for heteroskedascity and also the presence of serial correlations and both were found not to affect the model hence the regression was run.
The analysis shows that the number of years in schooling had a positive and significant effect on the logarithm of hourly wage (about 8% per year of schooling) which suggests that there were positive returns to education in the sample. This is consistent with a number of studies that have analysed the returns to education. From the R-squared results, the model accounted for 24% of the variance in hourly wages. Thus, the regression did not explain most of the variance in hourly wages but points to the fact that the number of years of schooling is a good predictor of returns in education. However, we cannot rule out endogeneity (race results) and given low overall significance of regression.
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This paper will deal with the important aspects of social mobility including education, occupation and income. Several methods of eliminating inequality from the society are thoroughly discussed and recommendations are also made at the end of the paper with references to the famous and most effective theories and research works. The UK education system is currently facing many issues and problems in the way of proving quality education to their students.
The times are pretty much over when one was required to be reactive. Now to be impactful in everything you do, one must be proactive, innovative and creative. Organizations are not running after heads with decades of experience and lots of silver on the head, rather they are hunting for street smart, tech savvy and brilliant young colts that could be transformed into great, young, energetic future leaders.
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The key steps to achieving this vision include 9 short-term reforms and 3 long-term reforms (www.qca.org.uk/14-19/developments/index_gp-14-19-education-papers.htm).
Uk Secretary of State has also give importance to the issue. It is the State responsibility for funding higher education courses taught in further education colleges (FECs).
There is a need to unravel the true definition or the most acceptable of inclusive education. Additionally one needs to assess whether or not inclusive education has brought positive changes. The negative consequences need to be analysed too. A thorough discussion on inclusive education must not neglect the need for parental involvement and roles played by teachers to facilitate the transition.
Fourier, another Frenchman, believed that economic competition is the source of all evil, work should be voluntary, and everything should be shared by all; Owen drafted the model socialist community where everybody helped in raising children, women had a role in governance, and, sexual freedom for all sexes.
Finally I will describe the relationship I will enjoy with my suppliers: the language I will use with them and the warranties and service I will expect.
I intend to sell upscale, fashionable clothing for a style conscious customer base. To do so, I will
A higher number shows more unequal distribution of income. According to (Cribb, 2013 ) the rise in the level of income inequality in industrialized nations lead by the host of English speaking nations such as the
Let the future value of the bond be X. Based on the formula, the future value of the bond is determined as follows: 1000 = (60/2)/(1.03)^5 + X/(1.03)10. 1000 = 25.88 + X/1.344. X/1.344 = 974.12. Therefore, X = (1.344*974.12) = $ 1,309.22 (Brigham & Ehrhardt,
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