Economic Dimensions in Education


Book Description

This book examines the economic issues of education from an unusually systematic and broad perspective. Although the book is soundly based in economic theory, it is not heavily mathematical. Economic Dimensions in Education is designed to provide an introductory analysis of economic issues in education both in academic life and in the general community. Some of the issues discussed include the nature and reasons for public sector activity in education, the role education plays in providing skilled human resources for an economy, and the economic consequences of migration between countries of educated peoples. The book also deals with various aspects of demand: patterns of educational demand, individual demand for education as a form of social investment for the community, and supply aspects of education as related to types and sizes of educational establishments and problems of ensuring the efficient provision of education. There has been a growing interest in the economic aspects of education. The considerable growth in the volume of educational activity is now at the point where today education is one of the largest industries in most countries and also one of the chief employers of highly skilled personnel. The recognition that education may have a significant influence on the employment and income opportunities and hence affect the distribution of income and wealth in society is also a factor. A final reason stems from the post-war emphasis on economic growth and development, with education playing an important role as a provider of skilled personnel for an economy. This classic volume is comprehensive, clearly written, and will appeal to undergraduates and first-year graduate students. The treatment is firmly embedded in economic theory and is must reading for those professional economists concerned with education.




Economics of Education


Book Description

A collection of short, stand-alone chapters divided into five sections including overview of the field; private and social returns to human capital investments; production, costs and ?nancing of education; teachers and teacher labor markets; and education markets, choice and incentives. The collection provides international perspectives that describe the origins of these subjects, their major issues and proponents, their landmark studies, and opportunities for future research. The 70 contributors are each well-regarded economists whose research has advanced the topic on which they write, and this book fulfills an undersupplied niche for a text in the economics of education. The chapters come from the acclaimed International Encyclopedia of Education, 3e (2010), edited by Eva Baker, Barry McGaw, and Penelope Peterson. The Encyclopedia contains over 1,350 articles in 24 sections that stretch from educational philosophies and technologies to measurement, leadership, and national systems of education. - This single volume textbook presents a cohesive view of this increasingly important area ofeconomics - Superb contributions from well-regarded economist convey unique and useful perspectives - Chapters contain an extensive bibliography and further readings to enable interestedresearchers to extend their knowledge into each speci?c topic




Economic Dimensions in Education


Book Description

This book examines the economic issues of education from an unusually systematic and broad perspective. Although the book is soundly based in economic theory, it is not heavily mathematical. Economic Dimensions in Education is designed to provide an introductory analysis of economic issues in education both in academic life and in the general community. Some of the issues discussed include the nature and reasons for public sector activity in education, the role education plays in providing skilled human resources for an economy, and the economic consequences of migration between countries of educated peoples. The book also deals with various aspects of demand: patterns of educational demand, individual demand for education as a form of social investment for the community, and supply aspects of education as related to types and sizes of educational establishments and problems of ensuring the efficient provision of education. There has been a growing interest in the economic aspects of education. The considerable growth in the volume of educational activity is now at the point where today education is one of the largest industries in most countries and also one of the chief employers of highly skilled personnel. The recognition that education may have a significant influence on the employment and income opportunities and hence affect the distribution of income and wealth in society is also a factor. A final reason stems from the post-war emphasis on economic growth and development, with education playing an important role as a provider of skilled personnel for an economy. This classic volume is comprehensive, clearly written, and will appeal to undergraduates and first-year graduate students. The treatment is firmly embedded in economic theory and is must reading for those professional economists concerned with education.




The Knowledge Capital of Nations


Book Description

A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.




Does Education Matter?


Book Description

"Education, education, education" has become an obsession for politicians and the public alike. It is seen as an economic panacea: an engine for growth and prosperity. But is there a link between increased spending on higher eductaion and economicgrowth? Professor Alison Wolf takes a critical look at successive governments' education policy and challenges many of the tenets of received wisdom: there are no economic reasons for spending more on higher education in order to stimulate growth. The conclusion of this devastating book is that a large proportion of the billions poured into vocational training and university provision might be better spent on teaching the basics at primary school.




Economics of Education


Book Description

While there are many great research articles, good books, and provocative policy analyses related to the economics of education, these materials are often written to influence the policy process and not necessarily for students with limited knowledge of the underlying policies and the economic framework. This textbook is intended to serve as a foundation for a broad-based course on the economics of education. Its goal is to provide an overview of economics of education research: to lay out the evidence as clearly as possible, note agreements, disagreements, and unresolved points in literature, and to help students develop the tools necessary to draw their own conclusions.







Economic Dimensions of Personalized and Precision Medicine


Book Description

Personalized and precision medicine (PPM)—the targeting of therapies according to an individual’s genetic, environmental, or lifestyle characteristics—is becoming an increasingly important approach in health care treatment and prevention. The advancement of PPM is a challenge in traditional clinical, reimbursement, and regulatory landscapes because it is costly to develop and introduces a wide range of scientific, clinical, ethical, and socioeconomic issues. PPM raises a multitude of economic issues, including how information on accurate diagnosis and treatment success will be disseminated and who will bear the cost; changes to physician training to incorporate genetics, probability and statistics, and economic considerations; questions about whether the benefits of PPM will be confined to developed countries or will diffuse to emerging economies with less developed health care systems; the effects of patient heterogeneity on cost-effectiveness analysis; and opportunities for PPM’s growth beyond treatment of acute illness, such as prevention and reversal of chronic conditions. This volume explores the intersection of the scientific, clinical, and economic factors affecting the development of PPM, including its effects on the drug pipeline, on reimbursement of PPM diagnostics and treatments, and on funding of the requisite underlying research; and it examines recent empirical applications of PPM.




World Development Report 2018


Book Description

Every year, the World Bank’s World Development Report (WDR) features a topic of central importance to global development. The 2018 WDR—LEARNING to Realize Education’s Promise—is the first ever devoted entirely to education. And the time is right: education has long been critical to human welfare, but it is even more so in a time of rapid economic and social change. The best way to equip children and youth for the future is to make their learning the center of all efforts to promote education. The 2018 WDR explores four main themes: First, education’s promise: education is a powerful instrument for eradicating poverty and promoting shared prosperity, but fulfilling its potential requires better policies—both within and outside the education system. Second, the need to shine a light on learning: despite gains in access to education, recent learning assessments reveal that many young people around the world, especially those who are poor or marginalized, are leaving school unequipped with even the foundational skills they need for life. At the same time, internationally comparable learning assessments show that skills in many middle-income countries lag far behind what those countries aspire to. And too often these shortcomings are hidden—so as a first step to tackling this learning crisis, it is essential to shine a light on it by assessing student learning better. Third, how to make schools work for all learners: research on areas such as brain science, pedagogical innovations, and school management has identified interventions that promote learning by ensuring that learners are prepared, teachers are both skilled and motivated, and other inputs support the teacher-learner relationship. Fourth, how to make systems work for learning: achieving learning throughout an education system requires more than just scaling up effective interventions. Countries must also overcome technical and political barriers by deploying salient metrics for mobilizing actors and tracking progress, building coalitions for learning, and taking an adaptive approach to reform.




The Economic Dimension of Eurasian Integration


Book Description

How impactful has the Eurasian Economic Union (EAEU) been since it was signed in 2015? This book provides a thorough and critical analysis of economic integration in the EAEU from the perspective of international economic relations. It focuses on trade, FDI, manufacturing, energy, transport and logistics, science and education, digital economy, labour and ecology. The book also addresses the global positioning of the EAEU by evaluating its existing and potential trade agreements both with third countries and regional blocks. Although the EAEU is an established regional entity that has achieved a number of quantitative and qualitative economic results, there needs to be inclusive dialogue at the intra-regional (within the EAEU) and interregional (for instance, BRICS+) levels to further deepen the economic integration in the EAEU. This book will be of interest to academics and policymakers working in Eurasian economic integration, international economic relations and regional studies.