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Volumes have been written about the value of more and better education. But is there sufficient evidence to support the commonly held belief that we, as individuals and as a community, should be investing more in education? This book explores that question in unprecedented detail, drawing on empirical evidence from an impressive array of sources. While much of the focus is on the educational system in the United Kingdom, the book offers lessons of international applicability. A state-of-the-art compendium on education policy and its impact on educational attainment, the book examines numerous large-scale data sources on individual pupils and schools. The questions the book considers are far-ranging: How much do teachers matter for children's educational attainment? What payoff do people get from acquiring more education when they enter the labor market? How well do education systems function to provide employers with the skills they want? The book concludes by issuing some strong policy recommendations and offering an evaluation of what does and does not work in improving educational attainment. The recommendations address such issues as school effectiveness, education financing, individual investment in education, government education initiatives, higher education, labor market rewards, and lifelong learning.
. . . is a voluminous and timely collection of 18 essays that addresses a number of core issues on the economics of education. . . An exhaustive survey of the literature on the role of universities as multi-product firms at various levels and disciplines identifies the nature of the economies of scope and scale. This enriches the volume further. Economic Analysis & Policy . . . the endeavour of bringing together very knowledgeable contributors, including some of the leading contributors to the literature in the UK and beyond, to write a handbook on the economics of education is highly appreciated. The Handbook contains 18 substantive chapters, encapsulated by a brief introduction and an extensive and a very useful index. . . the Handbook should be praised as a useful overview of the field of economics of education as it stands today. Ludger Wößmann, Economic Issues This major Handbook comprehensively surveys the rapidly growing field of the economics of education. It is unique in that it comprises original contributions on an exceptional range of topics from a review of human capital, signalling and screening models, to consideration of issues such as educational externalities and economic growth, funding models, determinants of educational success, the educational production function, educational standards and efficiency measurement. Labour market issues such as the market for teachers and the transition of students from school to work are also explored. The International Handbook on the Economics of Education will be warmly welcomed by academic economists, educational researchers and practitioners in educational management as well as policymakers. Comprising specially commissioned articles, the Handbook will become indispensable reference for this ever topical field of study.
Literature survey of educational research materials on the economics of education and educational expenditure in the UK, with emphasis on the cost benefit analysis of education - includes employment of school leavers and university graduates, educational planning, financing, etc. Bibliography.
Since the 1870s the British economy has steadily declined from its position as the 'workshop of the world' to that of a low-ranking European power. Michael Sanderson examines the question of how far defects in education and training have contributed to this economic decline. By looking at issues such as literacy, the quality of scientific and technical training, the supposed anti-industrial bias of public schools and the older universities, the neglect of vocational and technical training and the neglect of the non-academic teenager, Michael Sanderson demonstrates that education was far from the sole cause of economic decline, but that its deficiencies have certainly played a part. This book offers an accessible and concise analysis of a topic of current importance, interest and debate and will be of interest to students and teachers of the history of education and its impact on British economic development in the twentieth century.