Solve all this question compulsory...... Higher education is a place where we see some, but not complete, diversification in investment. That is, most colleges requirea set of diverse "core" classes, but students must choose and, to some extent, specialize in a specific major. Classify each ofthe given as either a benefit or cost of diversification in college course choice.benefitAnswer Bankcost You get a degree that involves using a specific piece of technology. Three years after you get your degree, new technology is invented that makes yourjob unnecessary. You have to change careers, and your new career uses some skills that you learned in your core classes.Some students may have had to learn to use the slide rule in classes that were unrelated to their major. For some of these students, the electroniccalculator would have made the slide rule obsolete even before they finished their degrees.Your college requires you to take at least one philosophy class. Unfortunately, you loathe philosophy with every ounce of your being.A leading business newspaper recently reported that nursing majors have an unemployment rate of around 2% while clinicalpsychology majors have an unemployment rate of over 19%. Suppose school officials want to maximize student welfare andview clinical psychology as being a "riskier" major (in terms of getting a job using those skills) than is nursing.Holding all else equal, which of the following changes should school officials make to maximize student welfare?☐ Require clinical psychology majors to take more classes outside of their field than nursing majors.Make nursing and clinical psychology majors take the same number of classes outside of their fields.Require clinical psychology majors to take fewer classes outside of their field than nursing majors.

Student welfare refers to the overall well-being and quality of life experienced by students within…

Higher education is a place where we see some, but not complete, diversification in investment. That is, most colleges require a set of diverse "core" classes, but students must choose and, to some extent, specialize in a specific major. Classify each of the given as either a benefit or cost of diversification in college course choice. benefit cost

Higher education is a place where we see some, but not complete, diversification in investment. That is, most colleges require a set of diverse "core" classes, but students must choose and, to some extent, specialize in a specific major. Classify each of the given as either a benefit or cost of diversification in college course choice. benefit cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Solve all this question compulsory......

Higher education is a place where we see some, but not complete, diversification in investment. That is, most colleges require
a set of diverse "core" classes, but students must choose and, to some extent, specialize in a specific major. Classify each of
the given as either a benefit or cost of diversification in college course choice.
benefit
Answer Bank
cost

You get a degree that involves using a specific piece of technology. Three years after you get your degree, new technology is invented that makes your
job unnecessary. You have to change careers, and your new career uses some skills that you learned in your core classes.
Some students may have had to learn to use the slide rule in classes that were unrelated to their major. For some of these students, the electronic
calculator would have made the slide rule obsolete even before they finished their degrees.
Your college requires you to take at least one philosophy class. Unfortunately, you loathe philosophy with every ounce of your being.
A leading business newspaper recently reported that nursing majors have an unemployment rate of around 2% while clinical
psychology majors have an unemployment rate of over 19%. Suppose school officials want to maximize student welfare and
view clinical psychology as being a "riskier" major (in terms of getting a job using those skills) than is nursing.
Holding all else equal, which of the following changes should school officials make to maximize student welfare?
☐ Require clinical psychology majors to take more classes outside of their field than nursing majors.
Make nursing and clinical psychology majors take the same number of classes outside of their fields.
Require clinical psychology majors to take fewer classes outside of their field than nursing majors.

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