Module 1: The Expansion of Education and the Emergence of the Economics of Education In Module 1, I participated in the discussion for

several key topics. In Unit 1, I had the opportunity to read Elixir or snake oil? Can education really deliver gro th! "y #olf. In this reading, #olf $%&&%' explained get educated, get richer! $p.%1'. (s young children )any of us gro up ith the "elief that the )ore educated e are the greater our chance of success. *herefore, if you further your education, the )ore )oney you ill earn. #e are assured that ill e "enefit fro) receiving higher education. +ro) )y personal experience, I also "elieved this ,uotes get educated, get richer!. -verti)e, I have earned )y .achelor/s, 1st Master/s, orking on )y %nd Master/s, and co)pleted t o certificate progra)s. Even though, I attend school "ecause I en0oy it, I figured I ill also reap the "enefits. 1o ever, I kno so)e individuals ith only a high school diplo)a, ho )ake )ore than those ith degrees. *his leads )e to "elieve, that #olf/s ,uote should "e researched further. I no "elieve that education is not the key to success. It is a co)"ination of education and net orking that leads to career success and advance)ent in the orkplace. (nother good point #olf $%&&%' states, is that the years spend in education is an indication of your sacrifice in the orkforce. I do "elieve this is true, presu)a"ly if you can co))it to your education it is likely you ill co))it to your career. #hen 0o"s search for the perfect candidate they prefer those that possess the kno ledge, skills, and a"ilities in the field. In Unit 2, e discussed the hu)an capital theory. I agree ith the position taken in 3chult4 $1561' article that hu)ans can "e seen as hu)an capital. In order to re)ain co)petitive in such a do)inant orkforce, e)ployers search for prospective e)ployees that ill "e an asset to the organi4ation, seeing the) as hu)an capital. *herefore, e)ployees continue to invest in the)selves through continuing education. Invest)ent in hu)an capital effects national econo)ic gro th as it helps )axi)i4e an organi4ations profit. +or exa)ple, co)panies such as car dealerships search for those that are good )arketers, one that is capa"le sale a car and drive up profits. In Unit 7, e discussed )easuring the internal rate of return. Calculating the internal rate of return in a "ank account is si)ple. Most "ank institutions tell you the percentage that you should expect to receive on your initial invest)ent. 1o ever, calculating the internal rate of return on education can "e so)e hat co)plicated. .ut you can analy4e the invest)ent and deter)ine hich one pays "est. Calculating the rate of return on education one should consider the initial invest)ent, such as the costs of student loans and the a)ount of interest that ill accrue on the loan over ti)e, and co)parisons of institutions at the depart)ent and progra) level. 8eference9 3chult4, *.#. $1561'. Invest)ent in 1u)an Capital. American Economic Review, 51, 1:1;. #olf. ( $%&&%'. Elixir or snake oil? Can education really deliver gro th? In (. #olf $Ed.' Does

education matter? Myths about education and economic growth .12:77. <ondon9 =enguin "ooks.