The Economic Rewards of an Australian Creative Arts Degree

Phil LEWIS, Jee Young LEE

Research output: Contribution to journalArticle

Abstract

The number of university places in creative arts degrees in Australia has risen at a much faster
rate than for other degree programs. This represents a big increase in investment in creative arts education. Purpose of this paper is to examine the careers of those having bachelor degrees in creative arts. Approach mainly consists in estimating the monetary returns from these degrees using population data from the Australian Census under a range of assumptions.
Results show that for the average person, there are little or no monetary incentives to complete
these degrees and the private rate of return compares unfavourably with alternative degrees or with returns to financial assets such as the rate of interest. Policy implications are discussed such as those for university financing and increases in university places.
Original languageEnglish
Pages (from-to)18-30
Number of pages13
JournalOxford Journal: An International Journal of Business Economics
Volume14
Issue number1
Publication statusPublished - 2019

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Reward
Art
Economics
Census
Monetary incentives
Financial assets
Rate of return
Financing
Education
Policy implications

Cite this

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The Economic Rewards of an Australian Creative Arts Degree. / LEWIS, Phil; LEE, Jee Young.

In: Oxford Journal: An International Journal of Business Economics, Vol. 14, No. 1, 2019, p. 18-30.

Research output: Contribution to journalArticle

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