The Economic Value of Education

Course Code: MMAECO_05

Masters Level Module

The module aims to enable you to understand how education policies can be rigorously evaluated using empirical evidence. It develops and applies the tools of economic analysis, supported by empirical evidence, to the assessment of educational policies. The estimation of private and social rates of return to education is studied in greater depth than in Economic Perspectives on Education Policy, including the problem of identifying education as a causal factor in earnings differentials. Cost benefit and cost-effectiveness analysis are applied to some specific policy examples. Policy issues examined include how to Increase access to education and enhance the quality of schools and whether performance related pay improves teacher performance. Applications are chosen to reflect policy Issues in both developing and developed countries as well as general, vocational and higher education. Some seminars include hands-on experience in using spreadsheets for analysing economic and educational data.

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