Impact of Economic Factors on Major Subject Choice
Keywords:Dichotomous, Economic, Expectations, Human Capital, Logit, Unemployment
Objective of the study is to investigate the main determining factors of educational choicess of youth selected from Post Graduate Colleges of KPK. Career choice and major selection is a process rather than a particular event in an adolescent’s life. Each individual going through this process gets stimulated by many factors. A structured questionnaire was used to collect cross-sectional data from 1978 respondents enrolled in BS degree. Logit model is used because dependent variable is dichotomous which indicates that utility derived from one option of four-year BS Degree is greater than the utility associated with other choices. The Results of Economic Factor model shows that more jobs availability, Market trends, Expected Monetary Returns, Attractive Salaries, Motivation, Quality of Life, Expectations, Unemployment and Inflation rate have significantly impact. It was recommended that students should have opportunities to assess, explore and analyze alternatives choice and provided with more support, professional training, career counselling and guidance so they can become vital asset and skilled human capital.
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