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Anorak | Perhaps We Shouldn’t Have Expanded The Universities?

Perhaps We Shouldn’t Have Expanded The Universities?

by | 25th, November 2013

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THERE’S a fairly basic economic concept which states that if you increase the supply of something then the price of that thing is going to go down. Other things being equal, of course. There are exceptions but they’re exceedingly rare (wheat noodles in North China and rice in South China being the only two proven examples of Giffen Goods known).

So, when we decide to move from 10-15% of the age group going to university to 50% of it doing so what do we think is going to happen to the price of graduates? Quite :

Almost half of all recent university leavers are now working in non-graduate jobs, as those with media studies degrees fare the worst, a new report shows.

So those who have had that three years of discussing Gramsci in relation to The Simpsons find that this skill is not greatly desired outside in the real world. That is a surprise, isn’t it?

Other courses which were comparatively high-paying include engineering (£42,000), physical and environmental sciences (£36,000), and architecture (£35,000). Others which led to comparatively low-pay jobs were linguistics, English and classics (£26,400) and

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Posted: 25th, November 2013 | In: Money, News Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink