Year of Graduation
Modelling of Time Allocation between Study and Leisure for University Students
Allocation of time determines the results of activities in a great extent. For instance, quantity of time dedicated to study by a university student influence quality of his education and, consequently, position on the labor market. The authors hypothesize that university requirements; value of knowledge to a student; student`s abilities; value of knowledge to employer are the determinants of students` decision on time allocation. In order to check the aforementioned hypothesis a theoretical model is proposed. The model is a utility maximization problem of a student choosing an amount of time to dedicate to attending lectures and seminars and an amount of time to dedicate to self-education under time and budget constraints. Sensitivity analysis provided evidence on influence of value of knowledge to an individual and value of knowledge to an employer on student`s decision about time allocation.