Please use this identifier to cite or link to this item:
http://hdl.handle.net/123456789/2493
Title: | Economic Return of Attending Medical School in Ethiopia |
Authors: | Tekola, Etsub |
Keywords: | Rate of return to medical education, net present value, internal rate of return |
Issue Date: | Jul-2015 |
Publisher: | ST. MARY'S UNIVERSITY |
Abstract: | The decision to attend university and the choice of field of study has a
significant impact on an individual’s lifetime earnings. The main
objective of this study is to examine and estimate the private returns to
medical schooling in Ethiopia with a focus on bachelor degrees. The
paper applied the discounted rate of return method. Thus, by treating
Medical school tuition payments, room and boarding expenses and the
opportunity costs of foregone wages as investments in human capital
the researcher estimated both net present value (NPV) and internal rate
of return (IRR) of medical education. Questionnaire was designing and
different documents were reviewed to get the required data. The result
of the study revealed that under a 5 and 10% discount rate, on average
physicians enjoys a net present value of 88,891.15 birr and 76,274.15
birr respectively. The expected private internal rate of return also
found to be 25.5%, which represent a higher rate than the ones found in
the developed countries literature. This result implies that medical
education in Ethiopia is profitable and sound investment in private
point of view. |
URI: | http://hdl.handle.net/123456789/2493 |
Appears in Collections: | The 9th Student Research Forum
|
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