SEDUCTION
You're Dunc's Financial Adviser
Where should Dunc stop investing in education — and what would make university worth it?
Rates of return to human capital investment
EDUCATIONAL INVESTMENT →
MARGINAL RATE OF RETURN →
PRIVATE OPPORTUNITY COST
MARGINAL RETURN
PRIVATE OPTIMUM
RETURN = COST
PRIMARY
POST-16
UNDERGRAD
BEYOND UG
RETURN > COST · INVEST
RETURN < COST · STOP
GRANT LOWERS COST
NEW OPTIMUM
PRIMARY
POST-16
UNDERGRAD
BEYOND UG