Economics of Education

Economics of Education
Evaluation of education policy from an economic perspective, focusing on the benefits and costs of policy outcomes. Introduction to quantitative methods used by empirical education researchers.
 Hours3.0 Credit, 3.0 Lecture, 0.0 Lab
 PrerequisitesECON 388
 NoteConcurrent enrollment accepted for Econ 388; see professor.
 TaughtFall, Winter
 ProgramsContaining ECON 461
Course Outcomes

Econ 461 students will be able to

  1. Evaluate education policy from an economics perspective
    • Incorporate costs and benefits in education policy analysis
    • Identify unintended consequences associated with alternative policy options
    • Base analysis on research literature findings.
  1. Demonstrate an understanding of the theoretical underpinnings of the field
    • Education production
    • Human Capital formation
    • Role of incentives.
  1. Speak fluently and intelligently about current issues in education policy, including
    • US and International policy
    • Teacher labor markets
    • K-12 education policy
    • Higher education.
  1. Evaluate the economics of education research literature
    • Know the seminal papers in the field, and how they shaped the discipline
    • Know the current "cutting edge" papers and how they are pushing the frontiers of knowledge.
  1. Demonstrate an understanding of the quantitative methods and research tools that empirical education economists use to conduct research, including
    • Cross sectional and panel data models
    • Methods to account for selection bias
    • The importance of obtaining causal effects.