2.a Using a casual diagram explain the relationship between education and earnings Provide an interpretation of your dia

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answerhappygod
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2.a Using a casual diagram explain the relationship between education and earnings Provide an interpretation of your dia

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2.a Using a casual diagram explain the relationship between
education and earnings Provide an interpretation of your diagram.
[30 Marks]
b. A common method of estimating the returns to education is via
the Mincer equation. Explain it. [20 Marks
] c. One problem with the Mincer equation is that it does not
estimate the causal effect of education on earnings, why? Explain
how we might go about estimating the labour and non-labour market
effects of education.
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