This a slideshow about the opportunity costs of attending or not attending college.

1. The Educationally Economic What Ifs(The Opportunity Costs of College) Cheryl Bennett ECO 100 Professor VanWilligen June 28, 2010

2. Opportunity costs are the equivalent of a person’s hindsight of the effects of their decisions. Much like the effects of marginal costs upon the marginal benefits of a choice the opportunity costs of any decision can sway a person’s final decision between multiple choices. The benefits of going to college outnumber the financial, energy, and material costs it takes to pursue a degree. The Educationally Economic What Ifs(The Opportunity Costs of College)

3. Those material things like money, and/or intangible items like time that people are willing to give up in order to gain something else they deem more satisfying (Brue, Mcconnell, & Flynn, 2010, p. 479). Opportunity Costs

4. What are the opportunity costs of not going to college? (getting a college degree)

6. Introducing different cultures to one another

7. Encouraging civil intermixing of different religions and customs

8. Opening beneficial networking amongst new peers

9. Showing other available career optionsOne

10. Allows people to obtain the opportunity to gain a better income-producing job Some job positions are only available to those who have a college degree Can lead to promotions in a current career Increases the starting wage salary at a new job Two

11. Allows people to become more productive members of their communities because: They acquire new, enhanced, and/or polished social and problem-solving skills They gain more knowledge about new technologies They gain helpful tools/talents to become a greater asset to their company, employer, co-workers, friends, and family Three

12. Opportunity costs of attending college (Not getting/having/wanting a college degree)

14. Less stress from studying, researching, and class projects

15. Low risk of feeling inept in comparison with other students’ grades.Non-monetary opportunity costs

17. Already have a stable job and income

18. Satisfaction with one’s life style and income levelFinancial opportunity costs

20. Excessively low household income (poverty)

21. High family responsibility and pressure to work instead of going to school

22. Severe health issues

23. Personally unmotivated to apply for, attend a, or complete a college

24. Unwillingness to expend the effort necessary to attend classes, study, and/or graduate

25. Family members and peers are uneducated

26. Family members and peers do not value higher educationOther financial opportunity costs

27. What are the marginal costsof attending college? (What does it take to go to college?)

28. The additional financial expenditure, time, and/or physical exertion expense of one choice in comparison with another choice (Brue, Mcconnell, & Flynn, 2010, p. 477). Marginal Cost

29. College is expensive and contains many of these expenses: Tuition fees School supplies Books and equipment expenses for classes Dorm fees/cafeteria fees if on campus Internet connection fees for online college attendance Some of the marginal costs

30. Time spent away from family and friends Commuting or traveling to and from campus, home, and/or job Foregoing getting a job in order to graduate faster Working fewer hours in order to study and attend classes Four or more years of classes, studying instead of playing, and financial debts Other marginal costs

31. What are the marginal benefitsof attending college? (Why is college worth the cost?)

32. The extra gratification and/or satisfaction that is acquired from procuring one choice over another choice (Brue, Mcconnell, & Flynn, 2010, p. 477). Marginal Benefit

33. Increased self esteem Better self image to prospective employers Higher salary Increased chances for job promotions Higher entry level positions Increased academic knowledge and technological knowledge Polished social skills, crisis-handling skills, life skills, and unique talents The marginal benefits

34. How to choose “A” over “B” (How does one know if the benefit of college outweighs its cost?)

35. If the marginal benefits outweigh the marginal costs of a decision a person will have anincreasedsense of self satisfaction with their decision. Benefits > Cost b c

36. If the marginal costs outweigh the marginal benefits a person will have a decreasedsense of self satisfaction with their decision. Cost > Benefits c b

37. To graduate or not to graduate is a tough decision for anyone to make without knowing why it is necessary or desirable to pursue a college degree. It is true that a degree can open the door to a better financial future, but it is not always an easy doorway to walk through. Even though there are obstacles that every potential student needs to overcome, the benefits of the college experience and its diploma can make the journey worthwhile.

38. References Brue, S., Mcconnell, C, & Flynn, S., (2010.) Essentials of Economics. McGraw hill: NY