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State and explain two economic arguments in favour of and two economic arguments against third level students contributing to the cost of their higher education. - Leaving Cert Economics - Question c - 2012
Question c
State and explain two economic arguments in favour of and two economic arguments against third level students contributing to the cost of their higher education.
Worked Solution & Example Answer:State and explain two economic arguments in favour of and two economic arguments against third level students contributing to the cost of their higher education. - Leaving Cert Economics - Question c - 2012
Step 1
State and explain two economic arguments in favour of third level students contributing to the cost of their higher education.
Answer
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Reduced Cost for Taxpayers: When third level students contribute to their education costs, the financial burden on taxpayers is reduced. This means that the government can allocate funds to other essential services, ensuring a more balanced budget and reduced taxation for taxpayers.
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Opportunity Cost: The funds that students pay for their education can be reallocated by the government to other pressing priorities. By contributing to their education, students are investing in alternative uses of these funds, which can lead to improvements in other sectors.
Step 2
State and explain two economic arguments against third level students contributing to the cost of their higher education.
Answer
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Discourage People from Attending: Requiring students to contribute financially can make higher education seem unaffordable, leading to decreased enrollment. This may result in a decline in the skill level of the workforce which can have long-term economic impacts on the country.
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Inequitable: The financial burden of contributing to educational costs may disproportionately affect low-income families. This situation could be seen as inequitable, as those who can least afford to pay are less likely to access higher education, perpetuating cycles of poverty.