多年來政府大提倡技職教育（Vocational Education），強調一技在身的重要，但國人 在傳統觀念影響下，重學歷文憑，導致技萻教育水準難以提升。實際上，接受技職教育可使 青年學予具有一技之長並提早投入社會工作，有利於教育投資報酬（Return to Schooling）之 提高。 本研究乃採傳統Mincer的人力資本模式（Human Capital Model）做投資報酬率之評估， 將教育分成初級教育（Primary education），中級教育（Secondary Education），技職教育 （Vocational Education）及高等教育（High Education）四大類。在所得函數（Earning Function） 中除了包括四類做育年數，經驗及經驗平方等人力資本變數外，其他控制變數（Control variables）有性別，非金錢補償（Nonmoentary Compensation）, 是否否學以致用（Occupational Matching），職業、行業、工作時間要袂否為政府機構，與其他背景資料。並且嘗試採用心理 計量法（Psychographics）去衡量個人性性以控制其可能對所得造成之差異。分析方法除了估 計一般理論教育（General Academic Education）與技職教育（Vocational Educaton）之投資報 酬率外，尚考慮成本及收益（Cost and Benefit），將成本當作負所得，估計生命循環所得 （Life-Cycle Earning）之淨現值（Net Present Value）。資料來源限於大臺南地區，採立意抽樣 法在個種教育層次下分別取樣。 研究結果發現不能"約以致用"使得高等教育投資報酬率顯著下降，若接受高等教育卻不 能學以致用者，其投資報酬率顯著低於接受技職教育並學以致用者以及接受中級教育者之投 資報酬率。不同教育水準者生命循環所得淨現值之估計結果亦一致相符合。體力勞動者薪資 顯著偏高於其化職業。當控制由心理計量法所估計之個人性性後使得各類教育報酬率下降， 但不顯著。 藉著本研究分析結果，希望讓國人更深入了解一般理論教育與技職教育，有經濟評價上 差異可以做為日後社會大?選擇教育類型，以及政府在規劃未來教育發展方針之參考。不論 政府或私人之教育投資應考慮社會需求，若人力資本供給與資需求條件不合，將使教育投資 報酬率顯著下降，造成資源之浪費。

　　　　　Vocational education has been strongly advocated and supported by the government since long time ago. Howevery under the influence of biased conventional conception emphasizing high general educational degree, upgrading the level of vocational education is seriously frustrated. Vocational education would enable young people to obtain a useful and practical skill and early enter the job market, which is beneficial to return of schooling. This study adopts Mincer's Earning function to estimate return rate of schooling. Education is classified into primary education secondary education, vocational education and high education. Besides the human capital variables-education and experience, the controlled variables used in the earning function analysis include sex, region, nonmonetary compensation, personal characteristics, occupational matching, industry and vocation. This study applies psychographics method to estimate the personal characteristics which are used as the controlled variables in earning function to measure the personality influence on earning. Cost benefit analysis is conducted by using NPV (Net Present Value) approach. Data are randomly collected by means of survey of people who are currently employed in the Tainan area. This study found that occupational mismatching plays a major part in lowering return rate of high education investment. People receiving high education without occupational matching obtain significantly lower investment return rate than those who receive vocational education with occupational matching and those who receive secondary education. The estimated results of Net Present value of life-cycle earnings for different education level receivers are consistent with the estimated results of earning function. The earning of physical labor is significantly higher than that of other occupations. All kinds of education return rates are reduced when personal traits which estimated by the psychographics are controlled in the earning function but not significant. The major contribution of this research is to enable people understand in more depth detail the cost and benefit of receiving general and vocational education. The analyzed results can be taken as a reference both for an individual's choice of education and government future education policy. Both givernment and private educational investment must take the demand of the society into consideration, whenever the human capital supply is not balanced with demand, the return rate of schooling will remarkably decline, which results in the waste of resources.