Estimating the Impact of Education on Income with Econometric Approach: A Case Study in Universities

Nowadays, education is one of the most important issues in individual development of people in the society. Therefore, the attention on the development of education is increasing. During the past years, a number of economical theorists have studied on the education and training concepts. Econometrics has been identified as the most common technique in previous studies. In this research, the income values in different level of education are examined. The case study includes two groups of staffs and faculty members in a university. Regression equations are estimated in both groups according to Mincer’s equations in a way that staffs are evaluated in three levels of diploma, associate and bachelor degrees. And faculty members are evaluated in two levels of master and PhD degrees. Moreover, in this study, the meaningfulness of coefficient and regression equations is examined. Finally, the reformed equations of income are developed in different level of education.