1-1 Discussion: Opportunity Cost

“Introduce yourself briefly, including your program of study and career interests. Then address the following prompt:

In Chapter 2, you learned about the concept of opportunity cost, and the Section 2.1 review video demonstrated this concept. In your initial post, respond to the following:

  • Describe the opportunity cost of attending a four-year college (assuming a full-time schedule, living on-campus). Given these opportunity costs, why do people choose a four-year college experience?
  • In your own life, what are the trade-offs you face when choosing online classes versus traditional face-to-face classes?

In your response posts to your peers, comment on the trade-offs made by your peers, and contribute other costs and trade-offs that might be possible. Additionally, discuss why trade-offs differ among individuals, giving concrete explanation.”

 

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Good evening class. My name is Charlie. My wife and I live in upstate New York, with our nine year old son. I’m seeking an Associate’s degree in Business Administration, and am currently employed as an auto damage adjuster for Geico, working toward being a supervisor.

I started attending college at 40 years old, and I had already been working at my current job for almost three years. At the time, the opportunity cost of attending a four-year college, full-time, would’ve been the income earned at my job. I think that would be an easier decision to make if I hadn’t climbed up a very difficult ladder to get to the level of income I’ve achieved, without a college degree. If, say, I was fresh out of high school, with a minimum wage job, or no job at all, the opportunity cost wouldn’t have been nearly as high. This is why I think so many people make the decision to attend college, right after high school.

When choosing on-line learning, my trade-offs are minimal, when compared to what the opportunity cost would be if I attended live classes. I do feel that I would get a lot out of in person lectures from a professor, even more so without my son interrupting me during those lectures, and I wish I had experienced college social life. Also, getting a Bachelor’s degree in four years sounds a lot nicer than seven