Synthesizing Research on Medical School

The economic principle I researched was: people gain when they trade voluntarily.

There are several benefits and drawbacks to going to medical school and becoming a doctor. Several benefits include that it is rewarding, lucrative, and full of opportunities. Drawbacks mostly consist of the cost and the time commitment- as it takes “over eight years of schooling to get full certification and potentially even longer” depending on the path you choose. But it is important to mention that there can be lots of flexibility when it comes to choosing a specialty. There are many medical specialties that all have different lifestyles, environments, stress levels, and other factors. Because of this, it is possible to choose a specialty that best fits your desired lifestyle.

Medical school is expensive. According to one source, “coupled with average medical school debt of $170,000, the total cost of attending med school including lost opportunity is around $800,000.” Even though this is a large amount of debt, medical school graduates usually are able to pay it off when they start their careers (“doctors’ earnings generally range from $156,000 to $315,000”). With this being said, the cost shouldn’t deter someone from going to medical school. With all other factors aside, one of the main things that determines whether a student will benefit from medical school is if they are truly interested in the medical field. Ultimately, it all comes down to whether you have the dedication and interest in what you are pursuing.