If a student decides to spend their summer working at a part-time job instead of taking a summer course, what is the opportunity cost of this decision?

Opportunity cost is what you give up when you make a choice. In this case, if a student decides to work a part-time job during the summer instead of taking a summer course, the opportunity cost includes the benefits they miss from not taking that course. These benefits could be gaining new knowledge, improving their skills, or earning credits toward their degree. For example, if the course could help them understand a subject better and potentially lead to a higher-paying job in the future, that lost opportunity is part of the cost of their decision to work. So, the opportunity cost is not just the money earned from the job, but also the valuable experiences and knowledge they forgo by not taking the course.