Biomaterial Database

Really great returns to medical education? 1978

S T Mennemeyer

This article reports the value of a medical education as opposed to education for alternative professional careers, using 1970 Census data. When standard net present value computations are performed, it is found that the returns to investment in medical education exceed those to education for alternative professions. When the computations are adjusted for hours worked, physicians' earnings become roughly equal to those of dentists and lawyers but remain clearly superior to those of the other professions considered. Additional information on the earnings of physician cohorts vs. dentist cohorts for the post-Flexner era is also reported.

UI	MeSH Term	Description	Entries
D007182	Income	Revenues or receipts accruing from business enterprise, labor, or invested capital.	Income Distribution,Income Generation Programs,Savings,Distribution, Income,Distributions, Income,Income Distributions,Income Generation Program,Incomes,Program, Income Generation,Programs, Income Generation
D008297	Male		Males
D009790	Occupations	Crafts, trades, professions, or other means of earning a living.	Vocations,Occupation,Vocation
D010820	Physicians	Individuals licensed to practice medicine.	Physician
D003365	Costs and Cost Analysis	Absolute, comparative, or differential costs pertaining to services, institutions, resources, etc., or the analysis and study of these costs.	Affordability,Analysis, Cost,Cost,Cost Analysis,Cost Comparison,Cost Measures,Cost-Minimization Analysis,Costs and Cost Analyses,Costs, Cost Analysis,Pricing,Affordabilities,Analyses, Cost,Analyses, Cost-Minimization,Analysis, Cost-Minimization,Comparison, Cost,Comparisons, Cost,Cost Analyses,Cost Comparisons,Cost Measure,Cost Minimization Analysis,Cost, Cost Analysis,Cost-Minimization Analyses,Costs,Measure, Cost,Measures, Cost
D004493	Education	Acquisition of knowledge as a result of instruction in a formal course of study.	Literacy Programs,Training Programs,Activities, Educational,Educational Activities,Workshops,Activity, Educational,Educational Activity,Literacy Program,Program, Literacy,Program, Training,Programs, Literacy,Programs, Training,Training Program,Workshop
D004497	Education, Dental	Use for articles concerning dental education in general.	Dental Education
D004501	Education, Medical	Use for general articles concerning medical education.	Medical Education
D004512	Education, Pharmacy	Formal instruction, learning, or training in the preparation, dispensing, and proper utilization of drugs in the field of medicine.	Pharmacy Education,Education, Pharmaceutic,Education, Pharmaceutical,Pharmaceutic Education,Pharmaceutical Education
D004520	Education, Veterinary	Use for general articles concerning veterinary medical education.	Veterinary Education,Educations, Veterinary,Veterinary Educations