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by jerf
4191 days ago
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"So, maybe that's still an ROI estimate, but it's a complex one that explicitly rejects averages. It's not what people typically mean when they refer to "ROI"." I still say you've got a seriously impoverished view of "ROI". You pretty much never just get to look it up on a table, you certainly never get a guarantee, and you are absolutely supposed to consider everything in a ROI calculation... if you value personal satisfaction than be sure to factor that in. One of the baseline facts of modern economics is the highly variable nature of individual preferences. Microeconomics 101 is literally an exploration of this fact, and all economics cease to function if you assume all agents in the system have the same preferences. The idea that it's all about money is a slanderous strawman, not how it actually works. And so with ROI... if you are not considering your personal happiness with a ROI investment in your degree, that's your fault for failing to do a proper ROI investment, not basic economic's fault for not taking your personal preferences into account. If this sounds wrong to you, I'd suggest digging in and learning some microecon 101, because it sounds like you've got a strawman understanding right now. If you're a programmer it's easy enough to pick up by just reading about it. |
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>can you pay off a 6 figure debt to pursue a comparative literature degree?
>If you pick a program that has high salary/demand, you will have better ROI. Even if you spend lots of money on it, you will be able to pay it back. That is ROI. (Not just cost by itself)
>Here is a list of top ranking salary schools. They are almost all dominated by Ivies, tech/engineering (and interestingly, Military) schools.
I disagree with the approach of the first two quoted parts, and what the third comment is alluding to.
> One of the baseline facts of modern economics is the highly variable nature of individual preferences. Microeconomics 101 is literally an exploration of this fact
Erm, I studied econ in college (concentrating in micro econ and game theory), this certainly is not what micro econ 101 is about. One of the key assumptions of classic micro economics is simplifying people into homogenous representative agents (usually, perfectly rational agents who seek to maximize gains and minimize costs). The field of properly modeling individual preferences in micro economics is a relatively recent development. Economics 101 is where the simplistic definition of ROI arises, e.g. http://econwiki.wikidot.com/roi. And yes, a lot (probably most) people still mean this when they refer to ROI.