An analysis of the value and earnings of human capital in agricultural colleges and universities in the Philippines

Date of Publication

1987

Document Type

Master's Thesis

Degree Name

Master of Science in Economics

College

School of Economics

Department/Unit

Economics

Thesis Adviser

Tereso Tullao Jr.

Defense Panel Chair

Elmer Abueg

Defense Panel Member

Atanacio Abadingo
Panfilo Ching

Abstract/Summary

This study was an attempt to analyze the value and earnings of human capital in agricultural colleges and universities in the Philippines. It further sought to determine the factors influencing the level of earnings of faculty members and find out the extent of their contributions. There were 60 agricultural institutions sampled out of 120 total agricultural institutions offering degree programs in agriculture and related sciences. By means of complete enumeration, 850 faculty members were identified in the 60 sample agricultural institutions. The value of human capital of faculty members was estimated using the cost of education which comprised of the direct cost of schooling and opportunity cost borne by students. Results of the study showed that the value of human capital of faculty members was P66,840 for college graduates P238,582 and 453,942 for MS/MA graduates who obtained their degree locally and abroad, respectively P527,021 for those who had PhD degree obtained locally and whose MS/MA degree was also obtained locally P742,381 for those who had PhD degree obtained locally but whose MS/MA degree was obtained abroad P833,091 for those who had PhD degree obtained abroad but whose MS/MA degree was obtained locally and P1,048.451 for those who had Phd degree obtained abroad and whose MS/MA degree was also obtained abroad. On the average, the direct cost of education was 86.4 percent of the total cost of education (or the value of human capital) while opportunity cost was just 13.6 percent.Descriptive statistics such as frequencies, means and standard deviations were used to analyze the data on the profile of the faculty members.

Of the toal 850 faculty members, 56.4 percent were BS graduates, 31.6 percent had MS/MA degree and only 12.0 percent obtained PhD degree. It was observed that PhD degree holders had highest average annual earnings (P34,918) compared to those BS and MS/MA graduates (P13,834 and P19,163, respectively). A great majority (74.1 percent) of the faculty members were instructors, 14.5 percent were assistant professors, 8.4 percent were associate professors and 3.0 percent were professors. Faculty members occupying professor position received the highest salary annually (average of P46,484), followed by those who were associate professors (average of 31,470) and those who were assistant professors (average of P23,308). Among the rank it was observed that the instructors were the lowest paid (average of P14,339) which can be attributed to the lower educational requirement of the position. To determine the factors influencing the level of earnings of faculty members, the multiple linear regression analysis was employed on the dependent variable (log earnings) and the independent variables such as years of schooling, years of employment experience, highest educational attainment, place where MS/MA and PhD degrees were obtained, type of school where faculty member is employed, and sex. A positive coefficient on the years of schooling and on the years of employment experience was obtained. On the average, the R-square values obtained in all the regression equations were generally over 50 percent and the corresponding F-values were all found to be significant at .0: significance level. It can be inferred that more than 50 percent of the total variation in the dependent variable could be explained by the independent variables.

Abstract Format

html

Language

English

Format

Print

Accession Number

TG01582

Shelf Location

Archives, The Learning Commons, 12F Henry Sy Sr. Hall

Physical Description

92+ p., 28 cm.

Keywords

Education -- Costs; Human capital; Agricultural colleges -- Philippines

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