With the expanding of higher education in China from 1999, more and more youngsters are able to invest in higher education, resulting a high unemployment rate for higher education graduates and more and more graduates employed in non-graduate position, while the analysis upon risk and return to...

University of York Beijing Normal University The efficiency of the process of investment in human capital through education is of considerable importance both to the individuals involved and to the wider economy. The paper develops an analytical framework in which issues of the efficiency of...