College major,college coursework,and post-college wages |
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| Affiliation: | 1. Department of Economics, Ohio State University, 410 Arps Hall, 1945 North High Street, Columbus, OH 43210, United States;2. Department of Agricultural, Environment, and Development Economics, Ohio State University, 250 Agricultural Administration Building, 2120 Fyffe Road, Columbus, OH 43210, United States;1. Department of Ag. Economics and Economics, Montana State University, Bozeman, MT 59717, United States;2. Department of Economics, Finance and Legal Studies, University of Alabama, Tuscaloosa, AL 35487, United States;3. School of Mathematical Sciences, Nankai University;4. Institute for the Study of Labor (IZA);1. Department of Economics, Texas A&M University, College Station, TX, United States;2. NBER, Cambridge, MA, United States;3. IZA, Bonn, Germany;4. School of Public Affairs, American University, Washington DC, United States;5. Department of Agricultural Economics and Economics, Montana State University, Bozeman, Montana, United States |
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| Abstract: | We ask whether estimated wage payoffs to college majors change when we account for skills acquired in college by including college major dummies and detailed coursework measures in log-wage models. Using data from the 1997 National Longitudinal Survey of Youth, we find that students in all majors differ considerably in the percentage of credits taken within-major, as well as in their overall credit distributions. When credit distributions are taken into account in modeling log-wages, estimated coefficients for college majors often fall by 50% or more. Moreover, estimated log-wage gaps between select pairs of majors often change by orders of magnitude depending on whether we compare individuals whose overall credit distributions correspond to obtaining a low, medium, or high level of credit concentration within the major. |
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