Does studying economics in college influence loan decisions later in life?

The authors investigate the relationship between undergraduate economics coursework or majoring in economics and the debt behavior of the college graduates. The data come from the Baccalaureate and Beyond (B & B) longitudinal survey of the National Center for Education Statistics. College gradua...

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Bibliographic Details
Published inThe Journal of economic education Vol. 49; no. 2; pp. 130 - 141
Main Authors Bosshardt, William, Walstad, William B.
Format Journal Article
LanguageEnglish
Published Washington Taylor & Francis, Ltd 01.01.2018
Routledge
Taylor & Francis Inc
Subjects
Bachelors Degrees
College Graduates
Credit (Finance)
Debt (Financial)
Decision Making
Decision Making Skills
Economics Education
Graduate Surveys
Interviews
Longitudinal Studies
Majors (Students)
Money Management
Outcomes of Education
Predictor Variables
RESEARCH IN ECONOMIC EDUCATION
Student Loan Programs
Student loans
Undergraduate Study
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Summary:The authors investigate the relationship between undergraduate economics coursework or majoring in economics and the debt behavior of the college graduates. The data come from the Baccalaureate and Beyond (B & B) longitudinal survey of the National Center for Education Statistics. College graduates who took courses in undergraduate economics or majored in the subject appear less willing to assume debt through auto loans or federal student loans. If they do assume debt, the amount of the monthly payment (auto loans) or the total amount owed (student loans) is less for college graduates with economics coursework or an economics major compared with other students. The findings are robust for college graduates one year and four years after graduation.
ISSN:0022-0485
2152-4068
DOI:10.1080/00220485.2018.1438948