CrashCourse - 2016-02-11
How does education work? Where does the money come from? Who pays for it? Is going to college a good investment? Adriene and Jacob are talking today about the economics of education. Most countries require that their citizens get some education, and most countries pay for basic education, but the quality of education can vary widely. And in the US, post-secondary education can come with a lot of costs. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
We Could build taller schools to promote higher education
abraham5361, Well, universities and colleges are usually taller than primary and secondary schools.
Or legalize weed in all schools...
oh god
LOL
@Captain Obvious plz tell me you're joking
Wait? Colleges are "Heavily Subsidized" and this is the price? DEAR GOD, I need to move!
+Chidubem Ezinne don't come to Britain... we're becoming more like the US
+Chidubem Ezinne most Big-Business in the US is subsidized. 3 to 1 over poor people.
The reason everything is so expensive for us is because our market is literally a Video Game and not a real market. Everyone's out to get the biggest high score and price everything at "what the market will bare" . Turning a profit is rarely enough, instead everything is measured on expectations of Growth. Companies that don't meet hedgefunder expectations or dividends are subject to hostile acquisitions/mergers.
DragonLord, I am sorry I am late but in Norway, healthcare and college is not free because either way, your taxes skyrocket. Plus bigger government and less innovation.
@Field Marshal Fry
No, you are becoming more like Britain.
@黒い楓
Nope.
When I can, I'm going to bring education to those less fortunate than I.
+Christian Neihart yes gearman as done
LEARN more Study less ... new strategy courses ... (limited number) join now
Link in video description in my channel
i under sand
Less fortunate than me. Oh the irony.
Sporkabyte it's still communicating the same thing.
why do people in the USA call it collage and not uni?
It could be because countries such as France call Middle School/Junior High School "college". Thus to avoid confusion, I hypothesize that Europeans used the word "university" for post secondary education (e.g. France). Since the US is not a part of Europe, it would not need to resolve this ambiguity hence it is known as both college and university in the US.
I could be wrong though.
Because college is a single institution where the student learns and gets his/her degree from, whereas a university is an institution of many schools under one organization, such as Harvard, Yale, and many others.
College was an institution that had a single focus like agriculture, and occasionally land was allocated for this by the government. (Google land grant college) University is a combination of focused programs, under one umbrella. You can graduate from X University with a degree from the college of education, college of business, evening and weekend college, etc. University usually will typically offer advanced degrees, like Masters Level or a doctorate in most or all of the programs but as time passed those differences and distinctions have blurred. So the differences are lessened and colleges changed their names to university because it sounds more prestigious.
MrAudienceMember no, it is because college collectively includes community colleges and universities.
They are idiots, thats why
You failed to mention how the financial aid system is the reason college is so expensive. That's what happens when you subsidise demand. It really upsets me how you could fail to mention this. https://www.newyorkfed.org/research/staff_reports/sr733.html
@Omegacalgar Financial aid has a bigger effect on private institutions. That is true, but public institutions are still more expensive because of the system. As for poorer people, it's a bit of a trade off. The price would go down with out demand subsidies, and there would be less student debt, but there might be a higher upfront cost. This is why I think it is a good idea to subsidise the supply side, ie directly subsidies the institutions at the federal level (the same way states do).
@Omegacalgar I think expansions of federal loans are ineffective at best. Colleges are taking them as a signal that they can spend more, increasing the cost of tuition. There needs to be a way to dis-incentivize this practice, and by that I don't mean government force.
+Eli Williams They're unbiased (generally). They're not going to go out and say "this is the reason that x happens no question about it" if there's significant controversy involved--so far, instead, they've been covering each relevant side of the debate. Here, however, they seem to simply be explaining the observations that have been made, instead of the possible reasons for those observations, so I wouldn't have expected them to cover this.
@minecraftinchocolate "Unbiased" doesn't mean that one sugarcoats one's agenda; it means that one's agenda is completely absent from the presentation. Nearly every video in this series, however, has had pro-government implications. For example, they even pretended to leave up to the viewers the question of whether "income inequality" is a problem, meanwhile concluding (with a touch of pathos at the end) "yes" -- which in turn can only logically imply that some sort of coercive policy must occur.
+minecraftinchocolate centrist does not mean unbiased
Another reason its so expensive is that there are a lot of courses you need to take that have nothing to do with why you are there. My wife is a Nursing Student and the amount of extra courses she had to take just to graduate is ridiculous. Book costs are also ridiculous. Some Lean Thinking could really help out with streamlining the process.
+Cliff Roth Book costs are a lot like drug costs those doctors/professors that require people that buy the book/drug are not the same people consuming the book or drug.
Oh yeah, as a person who had a long nursing career, want to say, facetiously, " that's the nurse I want taking care of me, the one with the, " Lean Thinking, " and streamlined education . For your information, their is an nursing program like that, whose name I won't mention. I have always called it, sarcastically, " the nurse in the box program." Nurses that graduate from it, will find, most states, don't recognize their license. Also, many of those nurses patients often have negative outcomes, in some way, because their is no clinical. This program feels that if you were in certain allied or paraprofessional fields, than you have skills to transfer over , to their RN program. You don't do any clinicals, you just go to a site, are assigned, for at least a day, to patients, where under watchful eyes , you must pass doing these clinical skills, according to what you learned from a textbook. To pass you must demonstrate these skills, exactly, as the steps in the textbook show. Problem is some students in this " nurse in a box, " program , are admitted, but some come , from health care backgrounds that don't utilize nursing clinical skills. They accept respiratory therapists, for examples. I really would be lost, if someone suggested to me, I could be a respiratory therapist, because I am a nurse. There is crossover in airway management , but they are not at the bedside using the huge arsenal of nursing and clinical skills , nurses are trained to use, and get hands on practice doing under the direction of their clinical instructors , in a clinical setting. Last, I checked, this program had a lot of angry students, who first couldn't pass the necessary demonstration of the clinical skills, and others who did pass, only to find the states , they hoped to practice in, state boards of nursing, would not let them sit for boards, or if they did, their were other hoops they had to jump through to practice in some states. I hear they did some revamping of the program, but don't know , if it helped nurses who graduated from this program, obtain licenses easier, and be recognized , in every state. California did not accept these nurses. If a state like California which sets high standards in healthcare, does not accept your license, then you know, your in the wrong program. Lastly, shortcuts in nursing in any area, including nursing education, spells most likely negative outcomes , for you, the patient.
I am majoring in metallurgical engineering, and have to take a few classes of limited value such as English, I have been speaking English for roughly 19 years if I am not fluent at this point one more class isn't going to do me any good.
We also to factor in those hidden advantages that privileged students have, such as; having parents that speak english or having the encouragement of family or even something simple as transportation. It is true, when comparing two students with different background, it plays a massive role in the success of a child.
Props to the AC/DC belt buckle. :)
+stellarfirefly they do seem to be kind of his thing I remember him wearing a similar one a few episodes back.
He wears one for every episode. They even change....
I wish I was taught how to do my taxes. :P
+Cryp Tic High schools REALLY need this to be a mandatory course or something.
Did your school not offer any personal finance classes?
"Is education worth it?"
Obviously. Otherwise it would have died out by now.
BOOM, episode done. See you next week.
1:14 Detroit: Become Stock Photo Human
Thank you for distracting me from my college homework...
The irony of using a graphic of Eton, one of the most expensive schools in the world, to signify free education in Europe!
workaholics reference?
2:58 Grammar nitpick! (Each... has) Carry on!
small problem with "competition" the schools often blow their funding on dumb things like a new stadium instead of their curriculum, which actually needs work, looking at you Marcus highschool
Next video: education of economics
Keep in mind, that jobs that require a college degree are harder to automatize. So your job is safer and you have a lower risk to pay one more time for a new education.
Great video, especially since I have one semester left in college, hit home haha. Debt-free though! :)
"... getting a real job"? Woah hold up.
Yay, Data!
That AC DC belt is amazing...I need it
I would really like to see the income of a college degree when their parent's income is accounted for. In other words, does a college degree still average 40-50k a year for the same demographics as those who don't go to college? I think we have to assume that the really smart people would still make much better money even if they didn't go to college, but they went to college to get even more.
More citations! As in any, and then more.
VOUCHERS!
Here in Germany the question "is University worth it?" has totally different numbers attached to it. I pay 300€ / Semester which is about 675$/year, but that includes a semester-ticket for the public transport (just in the city of course). Many of us students look at the US and are afraid of the high costs for collages, "they are incredibly", I hear a lot of people say. But in fact it is not too uncommon to take a loan to study here in Germany, lots of young people move to a different city and have to pay rent, food etc. and their parents can't necessarily pay for it. For this issue we have BAFÖG, a loan given to you by the state every year depending on how much your parents earn, how many kids they have etc. and from which you only have to pay back 50%, not 50% of the interest, 50% of the money to borrowed, even less when adjusted for inflation. Therefor anyone can afford to get a Bachelor degree here. But this also means that a lot of the buildings are crappy, they look like remnants of the DDR and are sometimes not fully functional. In Hamburg the mathematicians share an old, dirty, rotting 14 story block of concrete with the geo-sciences, with an elevator holding in every odd and another elevator holding in every even story, our public computer pool barely handles the tasks we throw at it in "numerics", even the chairs in some of the big lecture halls don't work properly.
Thus private universities are getting more and more popular on this site of the Atlantik, providing an alternative more comparable to what you have in the US, but nontheless I think having a cheap way to get to a degree should be a primary focus for any country...
Is college/university worth it? Yes, as long as you're willing to then work for free for a minimum of 2 years after graduating (and still find a way to pay for rent, bills, food, etc) before you can get a real job. Speaking from personal experience.
@Field Marshal Fry
They just got out of school. They have a mountain of debt and spending 2-3k of loan money to move to a better jobs market to faster repay all debt is just... smart. And "can't find work" is always an excuse. What people mean is they "can't find what they want, where they want". People are too picky in what the job is. I've never been out of work more than a couple weeks involuntarily because when I send out applications I send out dozens, if not hundreds and each is slightly tailored to the company. A quick 10 minutes of research will tell you what industry or cultural keywords to include in your applications to draw attention to yourself.
+Mr Schrödinger - I am the one who reviews.
Or you live in Europe and skip that part.
Not if you have an engineering degree (especially one of the tougher ones like Computer, Chemical, Electrical and Mechanical), you won't be working for free at all. It just depends on the degree that you get, if you get a business degree there's tons of people with that degree already so you better be good at what you do (or you'll find yourself in an underemployed job).
Well that's what happens when you pick a useless major that isn't in demand.
This is an Economic degree. We learnt about demand and supply. Go for something that the world is looking for. That’s it.
make your parents react to this it would be great
"put off to get a real job" ???
Wait do they show these in schools?
My little 2 cents on this.(background on me, i've been in the military for 12 years. i've only have my high school dip.)
i've seen more younger troops with BD/MD. but wow, they do not know how to tie their boots.
i had this one guy with a MD, ate expired vienna sausages. i told him not to do it. he was useless for about 2 days after.
i would have just random conversations about random stuff of interest. i'd have to say he is one of the dumbest people i have ever met. it had gotten to a point that i couldn't work with him because i couldn't trust him.
(he still is in at the time of this comment)
I'm so glad I live in Scotland where we have free university, how can we offer this with our economy but the largest economy in the world can't? Mind boggling
+Daniel Bryan With your profile pic, are you for real that it's "mind boggling"?
+Eileen D mind boggling that we can afford something that America can't considering we have 1.4% the population that America has with the USA also having the worlds biggest economy etc
@Daniel Bryan My country can; sadly, it just won't. Karl Marx had it right, imo. BTW, Scotts are totally rad!
Hi. this was very educative, now i know thank you so much.
this is truth. I've lived it.
says "gourmet dining" shows an omelette being cooked
Awesome that the University of Texas was used in this video. Hook'em!
imagine going to a 4 year and not a trade hahahaahah
Can i ask a question anyone?Did they already make a episode that tell how stock exchange works?
Thank you
\m/ Hook 'Em
Hi.
Just wondering where you got your data for this episode?
This episode really depressed me...
one of the first
I want to gather opinions on a model I've been thinking of:
What would happen if, instead of for-profit OR gov't-subsidized, universities were entirely donor-funded? I believe they would operate more meritocratically, make their students better off (to warrant their gratitude as alumni), and deliberately cut unnecessary costs, because they could not rely on the taxes of people who have no information about nor convictions for that institution.
LOVE YOU GUYS . Very excited to see each episode each week, you all have helped convince me to pursue a degree in economics (I am currently serving active duty and half-way through my enlistment). Very interesting stuff and you all present it very well. Thank you very much again and keep up the great work.
Great videos you guys do but when you leave stating the facts and the various thought positions and start sharing your personal conclusions, I lose interest.
Thanks, Adriene and Jacob to broaden our perspective. There was a post on LinkedIn, "who should we hire a person with certificate or a long exp". Guess What might I have commented there. Thanks again
I went to college for comp sci. I have ~100K in debt, but make ~80K annually. My parents were not educated, but I received some encouragement (but no financial assistance). It was totally worth it.
Thanks a lot!!! it's cool.
I hope you will be addressing a couple issues related to this topic in a future episode.
1. If someone does not have the means to stop working long enough to go to college it does not matter how statistically better it would be for them to do so. They still need to be able to cover their basic needs.
2. Please go into the opportunity cost of both the loss of higher tax revenue and the potential loss of innovation by limiting the portion of the population that even have college as a viable option.
Dylan Koerner - 2016-02-11
So let me explain why I like to pay taxes for schools, even though I don't personally have a kid in school: It's because I don't like living in a country with a bunch of stupid people.” John Green
The Hunter x Hunter 2011 Dickriding Association - 2016-02-12
+Dylan Koerner Too late