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Education Economics

Please discuss the role "scarcity" played in your pursuit of a college degree. Did you engage in what economics calls "rational behavior" and how does your choice reflect "self- interest"?
Please discuss the idea of trade-offs (cost and benefit analysis) when answering the above question.

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In the pursuit of my college degree, scarcity played a role in it. This was because I wanted to get a job in my field upon graduating. For example, the benefits were that I would have an increase in salary, job satisfaction, opportunity to get in a management position, set my own hours, and the chance to make a difference in the lives of others. These were reasons on why I went for it. However, I might add that neither of my parents hold anything above an Associate's degree, and my mother only has her high school diploma. As a result, I was all the more determined to do better than both of them. Well, after graduation, I learned that it is very difficult to find work because of the economy, so I did partake in rational behavior. I had ...

Solution Summary

This solution discussed scarcity with regards to a college degree, and if rational behavior and self-interest had a part in the decision-making process.