Well over1/2 through degree. Stick at it or drop out? (1 Viewer)

[maratyeu]

Each semester that passes I become less motivated to "further" my education.

I don't know where my passions and interests lie.

I had no idea what I wanted to pursue straight out of High School so I just chose the most "prestigious degree".

The years since HS I've been on auto pilot and this depresses me.

To this day I still don't know what it is I want to pursue.

So now since I've invested so much time into this degree, I feel as though i should just hang in there and get some qualifications.

But at the end of the day its not making me very happy.

 

[Shadowdude]

Your partially completed degree is a sunk cost. You shouldn't factor it in because whether you continue or not, you've already done it and you can't change it.

Proceed if the benefit outweighs the cost.

 

[maratyeu]

Your partially completed degree is a sunk cost. You shouldn't factor it in because whether you continue or not, you've already done it and you can't change it.

Proceed if the benefit outweighs the cost.

I guess I should proceed until benefits = costs then I'll maximise profits?

However these benefits can't be reliably measured whilst the costs with continuing with education and opportunity costs can be somewhat reliably measured. So my cost benefit analysis would be a pretty bad approximation.

Furthermore I'm not a rational person therefore my feelings of unhappiness would build on the costs.

 

[theism]

what was the degree?

law?
commerce?

My Friend, I was half way through a bachelor of commerce, but i decided it's not for me, so now im waiting for next year to start a bachelor of social science (criminology).
I am still combining with law though.

 

[-may-cat-]

What will the completed degree offer you in terms of job opportunity? If you hate studying within this discipline, imagine what working within it will be like.

 

[Shadowdude]

I guess I should proceed until benefits = costs then I'll maximise profits?

However these benefits can't be reliably measured whilst the costs with continuing with education and opportunity costs can be somewhat reliably measured. So my cost benefit analysis would be a pretty bad approximation.

Furthermore I'm not a rational person therefore my feelings of unhappiness would build on the costs.

Well, utility... I think. If I can remember my microecon properly.

But basically what I was getting at is: "Do you think there's a better use of your time?"

or opportunity cost


If you don't feel you're getting anything out of your degree, and it's a hassle to you - then... don't continue anymore.

 

[Memento-mori]

Drop it.

 

[4025808]

hehe nice application of microeconomics into real life

As for you, you're more than half way through the degree. Now, ask me, how many more years left until you finish this degree (or the component of the double degree). If one more year, you probs should hang in there. If two, then may consider. If 3 more years left, then you should be alright imo.

Just my 2 cents

 

[moll.]

Taking the previous years as sunk costs, it's probably even better for him to stay. Now he's looking at getting a degree in half the time of what he originally planned (because half the time has already gone). The endowment effect better describes the kind of choice he is facing.

Anyway, all the poorly applied economics in the world isn't going to distract you from what can essentially boils down to a single question: Are you being lazy? Just because you don't like something doesn't mean you should quit it. Often the long-term benefits are worth the short-term pain. If it's a matter of you not seeing any long-term benefits then do something that you can see benefits for, whether that's a particular job or a different degree.