|0||Undergraduate||writing from scratch||Essay||Not needed||0|
economics of labour
1 Does it pay to get your M.D.? Physicians are found near the top of most salary rankings of occupations. The training required to become a practicing physician however can be long and arduous. In some specialties, such as pediatric neurosurgery, physicians often do not begin their careers until their midthirties. Use the logic and analysis we used to model the decision to go to college to model the decision to obtain an M.D. You will have to research the process of becoming a practicing physician and learn about their earnings profiles and their training costs. Please model this decision separately for yourself, and then for persons who actually obtain the M.D. and pursue a career as a physician. This necessitates identifying the proper “counterfactual”—that is, the correct comparison group and what that group would likely be doing absent the M.D.—for these two person “types”. Please use your analysis to answer these questions: (1) would it have paid for you to start on a path to obtain an M.D. when you began college versus your present path?