Blog Post #3
The following blog explains elasticity and utility of the desire to attend college.
When there is a raise in the cost of attending college, numbers tend to be inelastic in public schooling because the tuition is lower, moves slower and more consistently. Because of the way public tuition changes you will see very little change in attendance numbers. Private college is considered elastic because they typically have a higher tuition than public schools which causes a greater variant in attendance. When a college changes their tuition they are consequently changing the demand of students to attend. Based on wether the demand goes up or down the college will alter their supply, which are the incentives the school gives to a student for attending.
College is a secondary eduction which means it's succeeding the amount of required education (k-12). Because college isn't required some don't see any usefulness in college, as a college student I find it to be very useful. Not only because your career path is lined up as long as you want it also for whatever you find yourself to be best at. I think that without a college education a career path is left up to coincidence, which isn't consistent or reliable. Another thing that I find college to be useful for is figuring out who you are because students are basically spending money on their decisions which makes a lot of decisions clear as day.
When there is a raise in the cost of attending college, numbers tend to be inelastic in public schooling because the tuition is lower, moves slower and more consistently. Because of the way public tuition changes you will see very little change in attendance numbers. Private college is considered elastic because they typically have a higher tuition than public schools which causes a greater variant in attendance. When a college changes their tuition they are consequently changing the demand of students to attend. Based on wether the demand goes up or down the college will alter their supply, which are the incentives the school gives to a student for attending.
College is a secondary eduction which means it's succeeding the amount of required education (k-12). Because college isn't required some don't see any usefulness in college, as a college student I find it to be very useful. Not only because your career path is lined up as long as you want it also for whatever you find yourself to be best at. I think that without a college education a career path is left up to coincidence, which isn't consistent or reliable. Another thing that I find college to be useful for is figuring out who you are because students are basically spending money on their decisions which makes a lot of decisions clear as day.
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