A Positive Study On Mincerian Rate Of Return Of Higher Education

For a long time, education has an important impact on the economic and social status of individuals, and the relationship between individual income and educational level has been a hot topic in the field of economics. People accept education to gain satisfaction and to increase productivity and enhance the capacity for enjoy things and acquire the non-economic and economic benefits. Through education and training, individuals have improved their skills and ability to work, increased their access to free markets, and improved their ability to adapt to the market by reducing the loss of income from unemployment and better re-entering the market. In general studies, the economic benefit component can be measured by the currency of the individual's income.Education (especially higher education) has long been regarded as a human capital investment behavior, the purpose is to get the appropriate return is naturally, educated in paying the time, energy, education funding, but also from the corresponding investment in education received income, the traditional idea that a relatively good education will have more chances to get a higher return on investment, which includes both the social benefits of investment in education also includes personal gains.It is very important to understand the wage decision mechanism in the labor market and the return characteristics of the human capital and the human capital investment behavior resulting from the study of the rate of return of education in higher education stage and the related influencing factors. At the macro level, it can play a very good theoretical guidance role in investment of education spending and different stages of education for our government.In this study, the questionnaires were distributed to the people in Zhejiang Province through a network questionnaire, and a sample survey was conducted according to the gender ratio. Excluding invalid questionnaires, the sample size was 469 copies.The contents of the questionnaire includes the years of education, professional background, occupation, graduation school, graduation years and parents'income and occupational background.Through the tool of Stata, we analyze the returns to education in higher education and the influence of factors such as gender, personal ability, family background and work sector on the rate of return of individual education through the control impact analysis. The following conclusions are drawn:First, the average rate of return on education in higher education is 8.79% without taking into account the missing variables. That is, each year of education in higher education can increase the income of 8.79%,8.79%, which is a partial deviation from the actual situation., The endogeneity of the model was overcome after taking into account the important control variables IQ and family background factors (parents 'average years of schooling, parents' average income, parental job level), and the model's estimation results were closer in the real value of the education rate of return for the high estimation of the problem has been improved.Second, family background factors, whether it is the level of parents or education level or average income, can affect their children's education rate of return. First, the average income, educational level and job level of parents are significantly related to the education level of their children. At the same time, the level of parents' average job level has 17.27% contribution to income, while the income of parents increased 1% it also contributes about 0.2% to children's income.Thirdly, in the stage of higher education, the chance of difference in education rate of return between male and female sex can be neglected. The conclusion is that there is no significant difference between the sexes at the highest level of education, although there are significant differences in the previous rate of return. It also shows that, in the present labor market in our country, compared with the low-level education stage, the employment discrimination of the workers who have received higher education has been alleviated and reduced to a great extent, which shows that the educational investment policy favored by educators has achieved some good results in China. In my point of view, it further reflects the importance of female educators to receive higher education, and only through receiving more education can they weaken the sex discrimination in market competition.Fourth, the different levels of departments and departments of the scale of the higher education level of education returns also have a great impact, this paper by comparing the market sector and non-market sector, the difference in the rate of return on education, the market sector, the education rate of return Which is much higher than the non-market sector, that is, the non-market sector, which shows that the non-market sector due to lack of competition, so the relative efficiency will be low; the higher the level and the larger unit average education rate of return will be higher.