The gap in outcomes between people of different education levels

The gap in outcomes between people of different education levels People with different educational levels have different lifestyles and enjoy different privileges. Higher levels and longer durations of education have many impacts on individual personal skills, life preferences and personal characteristics. For example, In the process of schooling, a person develops critical thinking, good communication skills, high self esteem, awareness and confidence.Advertising We will write a custom article sample on The gap in outcomes between people of different education levels specifically for you for only $16.05 $11/page Learn More Although most these skills are not taught in class, they broaden ones experience and skills hence one can manage his time and resources effectively, and can be in a position to make appropriate decisions in life. Therefore, as individuals-under the same background- go up in the academic ladder, their level of nonpecuniary benefits such as happiness, mental health and social life increase proportionatel y. Consider the case of the competitive employment industry. The employers look for the most trained or qualified persons to assign or award a job. Therefore, the level of schooling affects the chances of being unemployed, type of employment and the position for which an individual is employed, which has a direct impact on personal income. Since the levels of achievements and successes are mainly measured based on financial status, long-term unemployment and low incomes are considered total societal disgrace. Moreover, long-term unemployment and low incomes linked to depression and low self esteem, which in turn affects the mental health of individual. As a result, a college graduate is likely to be employed or have a better job than a college dropout or high school dropout, and hence the graduate is less likely to suffer from depression and poor mental health. Why it is difficult to identify the causal effect of education on outcomes. Quantifying the nonpecuniary benefits derived f rom schooling is very important. However, it is quite difficult to exactly single out or isolate one or two factors in order to establish a causal relationship between schooling and nonpecuniary benefits. Factors such as family background, genetics and perseverance are very beneficial and influential to schooling. For example, two different students with diametric parenting systems or financial backgrounds are subjected to totally different schooling outcomes.Advertising Looking for article on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More The two students will undergo different schooling methods and environmental conditions, exposure and associatively. Similarly, twins with different genetic makeup will also have different educational outcomes. In addition, it is true that the levels of incomes increase with the levels of schooling. Higher incomes in turns bring about more nonpecuniary benefits. This present a difficult y in measuring precisely the amount of pecuniary benefits that can be solely tied on schooling. For example, consider a CEO of a multinational corporation. It is hard to tell if his advanced methods of socialization are purely determined by his schooling level or his financial status. Methods that Oreopoulous discussed Schooling is important as it helps an individual to develop both knowledge based skills, and Critical thinking and social skills that enables individuals to be ethical, adjust to new situations and to able to analyze and solve problems. Thus, under the product efficiency model, Schooling provides a suitable environment for individuals to develop multitasking techniques and effective time management skills. However, the ‘allocative efficiency model’ views schooling as a means of equipping individuals with more skills for decision making. Twin and Sibling Studies are adopted to minimize the effects of prior social–economic success and genetic interfe rences that may bias the estimation of nonpecuniary benefits of schooling. The studies show that an extra year of schooling results in more nonpecuniary benefits. In Natural Experiments in Schooling involves alteration of policies that have net effect on cost of education without loss of benefit or value. An additional year of compulsory schooling, tuition, boarding in school, creation of a school in given locality affects both pecuniary and nonpecuniary benefits.Advertising We will write a custom article sample on The gap in outcomes between people of different education levels specifically for you for only $16.05 $11/page Learn More Outside the labor markets approach compares the levels of pecuniary benefits arising from schooling different schooling levels, before and after conditioning income. From this method, one can conclude that the benefits of schooling are reflected proportionally in marriage, parenting techniques, personal health, long-term behav iors, personal preferences, development of trust and the overall quality of life.