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The Returns to STEM Programs for Less-Prepared Students

Author

Listed:
  • Kevin Ng
  • Evan Riehl

Abstract

The returns to selective STEM programs depend on whether students complete these programs, earnings conditional on completion, and counterfactual schooling choices. Much research has focused on only one of these margins, potentially leading to an incomplete picture of the returns to STEM education for students with less academic preparation. Using data from a Colombian University and two empirical strategies, we find less-prepared students have higher earnings returns to selective STEM programs than more-prepared students, even though they are less likely to complete these programs. A key mechanism is that less-prepared students have lower-paying counterfactual schooling options.

Suggested Citation

  • Kevin Ng & Evan Riehl, 2024. "The Returns to STEM Programs for Less-Prepared Students," American Economic Journal: Economic Policy, American Economic Association, vol. 16(2), pages 37-77, May.
    • Handle: RePEc:aea:aejpol:v:16:y:2024:i:2:p:37-77
    DOI: 10.1257/pol.20200694
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    More about this item

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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