What Makes University Students Happy?

Happiness studies are a growing research area in economics. In this study we focus on the determinants of subjective well-being of a particular sub-population, university students. Different happiness determinants are considered and tested empirically using survey data from Finland. An ordered probit model is applied. We compare the results with those of a similar study conducted among university students in Australia. The findings reveal that the most important influences on students' levels of satisfaction are social relationships, resources and the educational environment, personal goal achieving and extracurricular activities.