{"id":3762,"date":"2022-04-20T13:11:02","date_gmt":"2022-04-20T13:11:02","guid":{"rendered":"https:\/\/blog.uantwerpen.be\/business-economics\/?p=3762"},"modified":"2022-04-22T06:20:04","modified_gmt":"2022-04-22T06:20:04","slug":"profcast-suncica-vujic","status":"publish","type":"post","link":"https:\/\/blog.uantwerpen.be\/business-economics\/profcast-suncica-vujic\/","title":{"rendered":"\ud83c\udfa7 Sun\u010dica Vuji\u0107: &#8220;The crime reducing effect of education is relevant for policy-makers.&#8221; | Profcast #39"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3762\" class=\"elementor elementor-3762\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c97fadc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c97fadc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-719ce78\" data-id=\"719ce78\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f9a6de elementor-widget elementor-widget-text-editor\" data-id=\"4f9a6de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In our\u00a0<strong>podcast<\/strong>-series \u2018Profcast\u2019, we talk with the professors of the Faculty of Business and Economics. This week, our guest is: <strong>Sun\u010dica Vuji\u0107.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9c3f744 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9c3f744\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-c663364\" data-id=\"c663364\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d3d476f elementor-widget elementor-widget-html\" data-id=\"d3d476f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<iframe style=\"border-radius:12px\" src=\"https:\/\/open.spotify.com\/embed\/episode\/0wokLgDEg1Z0mumyCwKUca?utm_source=generator\" width=\"100%\" height=\"232\" frameBorder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-a9c173e\" data-id=\"a9c173e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16d6c5b elementor-widget elementor-widget-video\" data-id=\"16d6c5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/1Z1lcxoZnUY&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4bfc304 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4bfc304\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-be1482b\" data-id=\"be1482b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a6c9e82 elementor-widget elementor-widget-text-editor\" data-id=\"a6c9e82\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Professor Sun\u010dica Vuji\u0107 teaches <strong>econometrics<\/strong> to the <a href=\"https:\/\/www.uantwerpen.be\/en\/study\/programmes\/all-programmes\/economic-policy\/\">Economic Policy<\/a> and <a href=\"https:\/\/www.uantwerpen.be\/en\/study\/programmes\/all-programmes\/business-engineering-financial-engineering\/\">Business Engineering<\/a> master students of the University of Antwerp.&nbsp;<\/p>\n<p>Sun\u010dica: &#8220;Econometrics entails bringing theory to the data. For example, the human capital theory says that education is an investment. We, as econometricians, want to see what the returns of additional years of education are. With returns, we usually think in terms of future wages and labour market prospects.&nbsp; However, it is not just&nbsp; a simple correlation between education and wages, because wages are also affected by other factors like your previous work experience, the sector you work in and your gender.&nbsp; So, you have to use an <em>ordinary least squares regression<\/em> to estimate the function including all the factors that affect wages, based on the data. The coefficient that we estimated next to your education variable represents the return of an extra year of education.<span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">&#8220;<\/span><\/p>\n<p>Professor Sun\u010dica Vuji\u0107 wrote the article <a href=\"https:\/\/repository.uantwerpen.be\/desktop\/irua\" target=\"_blank\" rel=\"noopener\">&#8216;The crime reducing effect of education&#8217;<\/a>.<\/p>\n<p><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">Sun\u010dica: &#8220;We used the same econometric toolkit that we developed for the relationship between education and wages to estimate the link between education and crime, a non-monetary return. There are three key mechanisms to explain this relationship:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">The income effect. The more education you have, the better labour market prospects you have. If you commit a crime, you have a higher opportunity cost. You have a lot to lose in this case.<\/span><\/li>\n<li><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">Incapacitation. If you are at school, your time is limited to do other things, to persue other activities, including risky activities like commiting crime.<\/span><\/li>\n<li><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">Additional years of education make individuals more mature, more patient and more risk averse.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight );\">Most importantly, in policy-making, you can use education as a lever to prevent crime.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: bold;\">Listen to the episode with Sun\u010dica Vuji\u0107 on Spotify, Apple Podcasts, DS Podcast-app, YouTube or SoundCloud:<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4a866e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a866e5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d4fd0e8\" data-id=\"d4fd0e8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5f50e3d e-grid-align-left elementor-shape-rounded elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"5f50e3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-spotify elementor-repeater-item-8f2e132\" href=\"https:\/\/open.spotify.com\/episode\/0wokLgDEg1Z0mumyCwKUca?si=2480d9a078ad46aa\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Spotify<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-spotify\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-apple elementor-repeater-item-039b7db\" href=\"https:\/\/podcasts.apple.com\/be\/podcast\/profcast-39-sun%C4%8Dica-vuji%C4%87-about-econometrics-and\/id1572265389?i=1000558333542&#038;l=nl\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Apple<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-apple\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-newspaper elementor-repeater-item-208c080\" href=\"https:\/\/podcast.standaard.be\/episode\/34037762\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Newspaper<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-newspaper\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-youtube elementor-repeater-item-f7a4caa\" href=\"https:\/\/youtu.be\/1Z1lcxoZnUY\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Youtube<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-youtube\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-soundcloud elementor-repeater-item-2c84d3f\" href=\"https:\/\/soundcloud.com\/uantwerpenfbe\/profcast-suncica-vujic\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Soundcloud<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-soundcloud\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f60b754 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f60b754\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-46ccb45\" data-id=\"46ccb45\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c7b914 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"4c7b914\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/www.uantwerpen.be\/nl\/overuantwerpen\/faculteiten\/bedrijfswetenschappen-economie\/nieuws\/profcast\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Discover more episodes of Profcast<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In our\u00a0podcast-series \u2018Profcast\u2019, we talk with the professors of the Faculty of Business and Economics. This week, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blog.uantwerpen.be\/business-economics\/profcast-suncica-vujic\/\" class=\"more-link\"><span class=\"screen-reader-text\"> &#8220;\ud83c\udfa7 Sun\u010dica Vuji\u0107: &#8220;The crime reducing effect of education is relevant for policy-makers.&#8221; | Profcast #39&#8243;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":3686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[65,107,105],"coauthors":[104],"class_list":["post-3762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-no-category","tag-economics","tag-podcast","tag-profcast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prof. Sun\u010dica Vuji\u0107 about econometrics and labour economics<\/title>\n<meta name=\"description\" content=\"Professor Sun\u010dica Vuji\u0107 teaches econometrics to the Economic Policy and Business Engineering master students of the University of Antwerp.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.uantwerpen.be\/business-economics\/profcast-suncica-vujic\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prof. Sun\u010dica Vuji\u0107 about econometrics and labour economics\" \/>\n<meta property=\"og:description\" content=\"Professor Sun\u010dica Vuji\u0107 teaches econometrics to the Economic Policy and Business Engineering master students of the University of Antwerp.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.uantwerpen.be\/business-economics\/profcast-suncica-vujic\/\" \/>\n<meta property=\"og:site_name\" content=\"Business and Economics\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-20T13:11:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-22T06:20:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.uantwerpen.be\/business-economics\/wp-content\/uploads\/2022\/04\/Suncica-Vucic-1024x512.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Lothar van Diessen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lothar van Diessen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/blog.uantwerpen.be\\\/business-economics\\\/profcast-suncica-vujic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.uantwerpen.be\\\/business-economics\\\/profcast-suncica-vujic\\\/\"},\"author\":{\"name\":\"Lothar van Diessen\",\"@id\":\"https:\\\/\\\/blog.uantwerpen.be\\\/business-economics\\\/#\\\/schema\\\/person\\\/30e57a79d67f8bef535c957ba41d2f47\"},\"headline\":\"\ud83c\udfa7 Sun\u010dica Vuji\u0107: &#8220;The crime reducing effect of education is relevant for policy-makers.&#8221; 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