EXAMINATION OF EDUCATION RETURNS WITHIN THE CONTEXT OF SECONDARY AND HIGHER EDUCATION LEVELS

Abstract

Education exhibits the characteristics of a mixed product and provides social and private returns. The main purpose of this study is to analyze the private and social returns of education at the secondary and higher education levels between 2010 and 2014, giving also an outlook based on gender and country. This study is a document research. The data have been taken from the OECD Education at a Glance issued between 2010 and 2014. It is observed that private rates of return at higher education level are higher than the secondary education level except for the male context in 2014. The private rates of return at secondary education level in Turkey are lower than OECD averages both in 2010 and 2014. The social rates of return increased at higher education level in 2014 compared to 2010 based on both genders. Considering both education levels, while social rates of return tend to decrease in secondary education, they tend to increase in higher education. The social rates of return in Turkey are lower than OECD averages based on both gender and period dimensions. Considering private and social rates of return, it can be observed that private rates of return are higher than social rates of return based on both education levels and other variables. Various qualitative and quantitative studies have been suggested for private and social returns based on different years and education levels.