Recession and field of study choice

Abstract

The main purpose of the present Thesis is to examine how the recent recession has affected the preferences of Greek students regarding their enrollment in departments of tertiary education. Therefore, we use panel data about the preferences of applicants, as well as about the admission thresholds for all the undergraduate programs of the Greek higher education Institutions. We have found that both the preferences and the thresholds have been affected by the financial crisis. Applicants discouraged by the rising unemployment rates, the severe impacts of crisis and the uncertainty concerning their future avoid departments with poor employment prospects like departments related to Education. Instead, they prefer departments whose degrees lead to professions in demand during crises such as Law, Psychology and Medicine. Merchant Marine Academies seem to be the most preferred departments, as the preferences towards them have skyrocketed. Things are not so clear concerning the field of Military and Police Academies. Finally, both the Institutions and the locations of their campuses (i.e. cities) play a significant role to the formation of admission thresholds and preferences.