Anomalies in economics enrollment: 1991–1992 to 1995–1996
Economics of Education Review Volume 23, Number 2 ISSN 0272-7757 Publisher: Elsevier Ltd
This paper presents data and empirical models to explain the causes of the decline in the enrollment of economics majors during the 1991–1992 to 1995–1996 academic years. It first discusses the theoretical bases for a qualitative analysis of this type. It then discusses a sample survey methodology used to obtain cross-sectional information from colleges and universities in the US for those sample periods. Finally, it explores data analysis suggested in the literature on Factor, Probit, and Regression techniques, to decide on an appropriate model to explain and advise policy measures for the near future. We found that a Weighted-Least-Squares Technique (WLS), taking care of heteroscedastic variance in the data and adjustments for multicollinearity and the dummy variable trap, in a recursive set of equations environment, explained the data best. The results, disaggregated by B.A., M.A., and Ph.D. degrees, are for the most part supportive of hypotheses in the literature. In particular, hypotheses of a declining national trend in enrollment associated with market boom phenomena, relative peak enrollment periods, budget cuts, lack of job opportunities, and poor teaching methods, gain validation. We posit these issues within the policies that are currently confronted in the national arena.
Lombardi, W., Ramrattan, L.B. & Szenberg, M. Anomalies in economics enrollment: 1991–1992 to 1995–1996. Economics of Education Review, 23(2), 153-165. Elsevier Ltd.