- The overall goal of this course is to introduce you to the economic analysis of education. Specifically, the course is intended to help you become knowledgeable in five major areas: 1. How economists define the “problematic” of education. 2. The concept of education as an investment (human capital), measuring the value of that investment, and how education contributes to economic growth and income distribution. 3. Teacher labor markets and teacher “value” in the educational process. 4. Schools as places of production and the economics of the education production process. 5. Education as a public and private investment good and the implications for educational finance in both K-12 and higher education.
- discuss intelligently how economists view the life cycle of investment in learning and skills for work.
- discuss intelligently the contribution that economics and economists have made to how we think about the role of education in society.
- discuss intelligently the various ways governments raise money to pay for education and whether some ways are more effective and more equitable than others.
- discuss intelligently whether higher salaries for teachers will bring “better” teachers in the teaching profession.
- discuss intelligently whether raising educational requirements has a positive or negative effect on teacher quality.
- discuss intelligently how the financing of higher education is changing toward cost sharing (user taxes) and how to estimate the impact this has on equity.