GRADUATE EARNINGS

Graduate Earnings

Graduate Earnings

Introduction

Quantitative methods measure, determine the number or use a questionnaire with questions to which answers are coded and subjected to numerical analysis. To characterize the whole population based on data from a limited number of questions and obtained in a study of a large number of people or examples. Allow to reveal significant differences in population characteristics or factors influencing it. Reveal statistically significant relationships between the problem and its obvious cause (Creswell, 2003).

The purpose of this paper is to analyze the Graduate Earning Data, the data set covers age of the respondents while the respondents have been divided into two categories (degree and no degree). Altogether there were 172 respondents that have participated in the study, all the variables take discrete values, and it is a variable that can take values from a list of specific numbers. The quantitative data provide a good overall picture of a population. They also allow observing trends over time.

Review of Literature

Distribution of income in a market economy is usually characterized by a considerable degree of inequality. It is determined by three main factors. First, the factors that have been in the broad sense inherited by the individual. These include not only received an inheritance shares, cash deposits, real estate, etc., but also the natural gifts, abilities to some studies. Secondly, accumulated during the life of human capital. Most important factor in its favor the formation of education. Third, success: a person can suddenly become rich by investing in a corporation, and ruined by investing in another. “Consider these factors in detail. Significantly, income inequality between persons owning the property and, therefore, receiving from her income, and persons not owning it. "That property income households to determine the position of the very top of the income pyramid. The right of inheritance, and the fact that wealth creates wealth, enhances the role played by the inequality of property ownership in an increase in income inequality, "- note the authors," Economics, "American Professor K. McConnell and S. Brue.

Differentiation of earnings is also due to the relation of supply and demand on a particular profession. If, for example, falling wages engineer, therefore, decreases the demand for this type of work. But why demand conditions are different in different labor markets? If all workers are homogeneous, all work is equally attractive to workers and labor markets are perfectly competitive, then all workers would receive absolutely the same rate of pay. From this it is clear why, in practice, different rates of pay.

Employees - are heterogeneous. They differ in their abilities, as well as levels of training and education, so do not get to compete with each other professional groups.

Types of work differ in their attractiveness.

Labor markets are typically characterized by imperfect competition.

The heterogeneity of workers is the basis of the presence of non-competing groups. For example, a relatively small number of employees have the ability to be surgeons, violinists, chemists, researchers, astronauts. Few have the financial means to obtain the necessary ...