At present day, in China university is given too much implication. It is a symbol of ability, a diploma from a good university often means a well-treated job. In contrast, go to university also face trade-off. Since go to university need to consider the opportunity cost, not everyone will choose to go to college. Opportunity cost is what people give up to get that item (Mankiw 2016). I think the opportunity cost of go to university is the income from working four years without spend time in university. And I think is still worth to go to university.
Because it is necessary to go to the length to continue people’s university education, and there are variety of choice instead of go to university. This being the case, that is the opportunity …show more content…
The opportunity cost is the wage you will earn. According to National Bureau of Statistics of China.(2015) The capita disposable income in 2015 is ¥31194.83 per year. Assuming that people choose go to work, that would be ¥124,776 people would earn in four years.
Supposing that people choose to go to university in place of go to work, they would get ¥44,712 per year, Assuming people there are no raise over their career (Lorraine.C 2016), if people have a forty years work career, they can earn ¥44,712* 40=¥1,788,480. In the event of without going to university, people can make ¥31194*44=¥1,372,536. Although we should consider the expense of going to university, but we should also think about there is a brighter development prospect with a good university diploma. In addition, opportunity cost of going college is more than one …show more content…
Because people can’t get any existing goods from university, that is why in China some of the poorest areas or some education level is low, people tend to send their kids to find a job instead of going to university. On the other side, a good college diploma can help people find a higher salaries job. In accordance with National Bureau of Statistics’ data(2016), the top three average annual salary of private business worker is people work on financial industry, information technology services and scientific research and polytechnic Services. Which is ¥50366, ¥63578 and ¥54764 respectively. Three industry has fastest income growing is financial industry, electric and water supply industry and real estate industry. Growth rate is 12.2%、11.5% and 10.3%. This industry mention above all need plentiful professional knowledge and the most effective way to ordinary people is learn through
Because it is necessary to go to the length to continue people’s university education, and there are variety of choice instead of go to university. This being the case, that is the opportunity …show more content…
The opportunity cost is the wage you will earn. According to National Bureau of Statistics of China.(2015) The capita disposable income in 2015 is ¥31194.83 per year. Assuming that people choose go to work, that would be ¥124,776 people would earn in four years.
Supposing that people choose to go to university in place of go to work, they would get ¥44,712 per year, Assuming people there are no raise over their career (Lorraine.C 2016), if people have a forty years work career, they can earn ¥44,712* 40=¥1,788,480. In the event of without going to university, people can make ¥31194*44=¥1,372,536. Although we should consider the expense of going to university, but we should also think about there is a brighter development prospect with a good university diploma. In addition, opportunity cost of going college is more than one …show more content…
Because people can’t get any existing goods from university, that is why in China some of the poorest areas or some education level is low, people tend to send their kids to find a job instead of going to university. On the other side, a good college diploma can help people find a higher salaries job. In accordance with National Bureau of Statistics’ data(2016), the top three average annual salary of private business worker is people work on financial industry, information technology services and scientific research and polytechnic Services. Which is ¥50366, ¥63578 and ¥54764 respectively. Three industry has fastest income growing is financial industry, electric and water supply industry and real estate industry. Growth rate is 12.2%、11.5% and 10.3%. This industry mention above all need plentiful professional knowledge and the most effective way to ordinary people is learn through