Thursday, April 11, 2013

Medical School: Cost Analysis

Getting an M.D. is expensive. The median student graduates with over $100,000k in debt and many student have so "little" debt because their parents paid for part of the cost. The median black student, who tends to have lower income parents, graduates with $184k in debt.

So its not surprising reporters are spreading the word with cost analyses of medical school. Bloomberg has the best such story that I have come across.

As a reminder, cost analysis is an alternative to cost-benefit analysis that ignores the benefits of a choice. The approach helps to simplify analysis, at the cost of leading to conclusion that are complete bullshit in almost all cases.

No comments:

Post a Comment