Kompany Car
Well-Known Member
- Joined
- 19 Sep 2015
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- 3,615
Its where we are at with teachers which can be seen by the large fall in the number of graduates doing PGCEs. When it comes to applicants for medical degrees its still significantly over subscribed. To quote a Guardian article...The problem is that in the long-term, if not addressed and remuneration looks incredibly poor next to other professions, that inelasticity becomes such a problem that rather than think “why not be a doctor somewhere else?” People start to think “why be a doctor at all?”
"University and College Admissions Service (Ucas) figures show that 28,690 students applied to medicine in 2021, a rise of 21% on last year. Universities made 21,577 offers, a reduction of 14.4% compared with 2019, representing a 41.2% rise in rejections."
From a hard nosed economics point of view supply far exceeds demand which would suggest that the supply at least in the medium term supply of new junior doctors is probably more elastic than most people believe.
However as you rightly point out it doesn't take much to tip the balance and due to the training requirements for the medical professions supply can rapidly become inelastic.