Theoretical Model and Empirical Background
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چکیده
This chapter discusses the theoretical and empirical issues relevant to the study. The chapter consists of 8 parts. Section 3.1 provides the theoretical background for educational investments. Section 3.2 discusses the benefits of education. Section 3.3 discusses the costs of education. Section 3.4 discusses the concepts of net present value and internal rate of return. Section 3.5 outlines the basic model of educational investments. Section 3.6 provides the rationale for public investments in education. Section 3.7 discusses the earnings function approach for measuring educational benefits. Finally, Section 3.8 provides the empirical background of the study.
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