THE ECONOMICS OF UK TEACHER SUPPLY - THE GRADUATES DECISION

Within a more general study of teacher supply, investigates the possibility that relative earnings and non-pecuniary factors are important in the decision to become a teacher. The author proposes an economic model of occupational choices, which suggests that initially individuals compare the earnings from teaching with their future potential earnings outside teaching by the choice of investment in further training. The derived econometric specification is discussed, and the data and estimated results described, indicating the importance of relative earnings and earnings growth in the decision to become a teacher. -P.Hardiman