English Summary Exercise

Summary of article: “The financial facts of education Lesson 1: Pick the right field of study”.

As required, I have summarized the article “The financial facts of education Lesson 1: Pick the right field of study” posted on macleans.ca, August 30, 2013. A copy of the article is attached for your convenience.

In this article, macleans.ca gives a point of view that a student’s life in future is largely decided by their major. It gives this opinion based on a recent study from CIBC economists Benjamin Tal and Emanuella Enenajor, advised that the financial advantage accruing to university grads has been shrinking of late.

Although Canada has the highest level of post-secondary education among all 34 countries in the OECD, it has the highest proportion of university (and college) graduates earning below the median income. This is mainly because of the different job-market demand.

Engineering has the most return from investment in schooling, it has a 117 percent annualized earnings premium over a basic high school education. Then comes math, computer and physical science, they can also have a big return on investment. In contrast, if choose art or humanities programs, may earn lover than high school grades. These gives us a picture that despite your best efforts, future financial success seems largely predetermined by the course of study you select in first year. Government has concern about the mismatch between workers’ skill and need from employers, so a program for job grant has been included in 2013 federal budget.

In fact earning potential is just one of the factors for a student’s decision. Other than that, ability, passion and personal satisfaction are also important factors. It cannot be a world full of engineers but no artists.

As a conclusion, maclean.ca gives a suggestion that it is important to improve the flow of information between job market and students, so that they can have reliable sources to choose their courses, for example, the report form...