THE DETERMINANTS OF COSTS AND EFFICIENCIES WHERE PRODUCERS ARE HETEROGENEOUS: THE CASE OF SPANISH UNIVERSITIES

A multi-product cost function is evaluated for the universities of Spain, using a random parameters stochastic frontier model. This allows estimates of systematic cost differences to be obtained alongside estimates of universities' efficiency. In addition, we evaluate average incremental costs of key university output, and provide measures of economies of scale and scope.

The Reform of Curricula in the Spanish University System: How Well Matched Are New Bachelor’s Degrees to Jobs

This study looks at how well bachelor’s degree holders in Spain match into jobs five years after graduation. Based on workers’ self-assessment, education–job mismatch is defined as the discrepancy between the formal qualifications that individuals earned at Spanish universities and those that are required by jobs. By estimating a multinomial logit model, this research identifies fields of study that are associated with increased likelihood of a particular educational mismatch status. Results indicate that university graduates from highly specialized bachelor’s degree programs are more likely to work in a graduate job that is related to their field of education. In particular, graduates with degrees that entail specific human capital, such as health sciences degrees and hard science and engineering degrees, are more likely to be well-matched in their current jobs. In contrast, the results show a higher likelihood of over-qualification (recent graduates who are in non-graduate jobs) for social and legal sciences degrees and arts and humanities degrees. Gender appears to play no role in the matching process; however, the subject-specific knowledge that graduates have gained from their time in higher education is important. As a novelty, this study also identifies, for a sub-sample of workers, the process through which a good match is achieved—that is, how individuals self-select to accept jobs in which they can achieve a good match. The regression results are based on micro data from a nationally representative random sample of the first cohort of undergraduates after the Bologna curriculum reform

Mapping the (mis)match of university degrees in the graduate labor market

The author thanks the editor and three anonymous reviewers for their valuable comments on a previous version of this manuscriptThis paper contributes to the scarce literature on the topic of horizontal education-job mismatch in the labor market for graduates of universities. Field-of-study mismatch or horizontal mismatch occurs when university graduates, trained in a particular field, work in another field at their formal qualification level. The data used in the analysis come from the first nationally representative survey of labor insertion of recent university graduates in Spain. By estimating a multinomial logistic regression, we are able to identify the match status 4 years after graduation based on self-assessments. We find a higher likelihood of horizontal mismatch among graduates of Chemistry, Mathematics, Physics, Pharmacy, and Languages and Literature. Only graduates in Medicine increase the probability of being adequately matched in their jobs. It may be hypothesized that horizontal mismatch is more likely among those graduates in degree fields that provide more general skills and less likely among those from degree fields providing more occupation-specific skills. Other degrees such as Business Studies, and Management and Economics Studies increase the probability of being vertically mismatched (over-educated). Vertical mismatch preserves at least some of the specific human capital gained through formal educational qualifications. However, some workers with degrees in Labor Relations and Social Work are in non-graduate positions and study areas unrelated to their studies. The paper also shows that graduates in the fields of health sciences and engineering/architecture increase the probability of achieving an education-job match after external job mobility

Causal Effects of Financial Education Intervention Aimed at University Students on Financial Knowledge and Financial Self-Efficacy

Based on a randomized controlled experiment among final-year undergraduate students, we provide an assessment of the treatment effects of financial education intervention focused on debt-financed graduate education decision-making. Specifically, this study finds positive treatment effects on both college seniors’ objective financial knowledge and subjective financial knowledge and self-confidence (i.e., perceived financial self-efficacy). Individual financial well-being is thought to be enhanced by improved financial knowledge test scores and perceived financial self-efficacy. In addition, we carry out a causal mediation analysis to investigate the extent to which objective financial knowledge plays a mediating role in the effect of financial education treatment on the intervention outcome (perceived financial self-efficacy). The mediation proportion, the proportion of treatment effect on outcome explained by the intermediate variable of financial knowledge, is around 21%, which is important. Thus, policies that aim to improve financial capabilities among college students through financial education programs should be aware that financial literacy is a significant antecedent of (a prerequisite for) financial self-efficacy.FUNCASEDUCA Program EF021/201

Panel Data Models for School Evaluation: The Case of High Schools’ Results in University Entrance Examinations

To what extent do high school students’ course grades align with their scores on standardized college admission tests? People sometimes make the argument that grades are “inflated”, but many school districts only use outcome-based descriptive methods for school evaluation. In order to answer that question, this paper proposes econometric models for panel data, which are less well-known in educational evaluation. In particular, fixed-effects and random-effects models are proposed for assessing student performance in university entrance examinations. School-level panel data analysis allows one knowing if results in college admission tests vary more between high schools than within a high school in different academic years. Another advantage of using panel data includes the ability to control for school-specific unobserved heterogeneity. For empirical implementation, official transcript data and university entrance test scores of Spanish secondary schools are used

Rendimientos privados de las inversiones en educación superior a partir de ecuaciones de ingresos

A pesar de su amplio uso en los trabajos aplicados sobre rendimientos de la educación, este artículo demuestra que la «función minceriana estándar» no arroja una medida exacta del valor económico de la Educación Superior si ésta es una variable endógena. El problema de la endogeneidad de la educación se ha corregido a través de la técnica de variables instrumentales. Nosotros obtenemos una rentabilidad del 13,6 por 100 para los estudios universitarios; alternativamente, observamos que los licenciados ganan un 57 por 100 más que los diplomados. No obstante, y tras usar el método bietápico de Heckman, no se detecta sesgo de selección muestral.: rendimientos de la educación, variables instrumentales, método bietápico de Heckman, demanda educativa

More than just good grades: candidates’ perceptions about the skills and attributes employers seek in new graduates

There is a common belief among university students that they have to study hard attempting to earn high grades because employers are targeting graduates with outstanding academic records. However, this idea does not seem to capture what is actually happening in organizations, as firms value more aspects related with personality and other personal qualities of young graduates. We present a case study of the hiring process of recent university graduates to test these hypotheses. The methodology used follows a two stage approach. Principal component analysis allows us to identify first key categories of skills and attributes that influence the selection process. Then, using econometric analysis, a matrix classifies them according to employer size and type, degree, position and industry. The results show that soft skills (personality and other qualities) are the most required attributes in the selection process. Good academic records only matter in the public sector

Llocs, termes i valls de Pollença a l’època medieval i moderna

Inclou referències bibliogràfique

How happy are young economists in their jobs?

This paper investigates issues of job satisfaction and competencies among economists. For this purpose, we use a data set gathered in 2006 at the University of Seville. Ordered logit analysis is used to analyze the determinants of an economist’s overall satisfaction at work. The results demonstrate that competency mismatches matter for reported overall job satisfaction

Los factores determinantes del emparejamiento educación-empleo: Evidencia a partir de una nueva muestra de economistas

Esta comunicación utiliza datos primarios para analizar los determinantes del (des)ajuste educativo de una cohorte de jóvenes economistas formados en la Universidad de Sevilla. Metodológicamente estima un modelo logit multinomial, en el que las categorías son el buen emparejamiento, la sobrecualificación, la infracualificación y el mal emparejamiento. Dejando de lado las características del empleo, nuestros resultados confirman que existe un efecto diferencial por sexo en el desajuste educativo y que además la nota media y el tiempo de búsqueda de empleo afectan a la clasificación de los egresados en las diferentes categorías