AN INTERNAL RATE OF RETURN APPROACH TO INVESTIGATE PHARMACIST SUPPLY IN THE UNITED-STATES

Internal rates of return were used to examine the status of pharmacist supply in the United States between the years 1987-1991. Age-earnings profiles were estimated for pharmacists, college graduates and high s chool graduates. Rates of return to pharmacists and college graduates were compared and a ratio of the pharmacist rate to the college gradua te rate was computed for each year. Results suggest a shortage of phar macists in the United States. Enrollments in pharmacy schools and adop ted changes in the training of pharmacists are discussed in relation t o their effects on the pharmacist labour market.