Economic Principles for Education : Theory and Evidence

by Belfield, Clive R.

• ISBN13: 9781843762737
• ISBN10: 1843762730
• Format: Paperback
• Copyright: 2003-04-01
• Publisher: Edward Elgar Pub

Author Biography

Clive R. Belfield is at the University of Birmingham, UK

Table of Contents

List of Figures	vii
List of Tables	viii
Preface	ix
Acknowledgements	x
The Application of Economics to Education	1	(15)
An Economic Description of Education	1	(5)
Economic Methods	6	(10)
Human Capital and Education	16	(32)
Introduction	16	(1)
The Basic Human Capital Model	17	(10)
Investment Appraisal	27	(8)
Over-education	35	(5)
Information Costs and Education	40	(6)
Issues and Conclusions	46	(2)
The Theory of Enrolment Choice	48	(24)
Introduction	48	(1)
Uncertainty and Risk	49	(5)
The Demand for Education	54	(5)
Allocations of Education	59	(11)
Issues and Conclusions	70	(2)
The Theory of the Enterprise	72	(24)
Introduction	72	(1)
Production Function Models	73	(11)
Cost and Revenue Functions	84	(10)
Issues and Conclusions	94	(2)
Evidence on Education Enterprises	96	(24)
Resource Effects	96	(1)
Evidence on Resource Effects	97	(6)
Specification of Resource Models	103	(5)
Scale Effects	108	(9)
Issues and Conclusions	117	(3)
Factor Inputs	120	(24)
Concepts	120	(1)
Teacher Inputs	121	(12)
Other Inputs	133	(7)
Factor Complementarity	140	(2)
Issues and Conclusions	142	(2)
The Theory of the Market	144	(19)
Introduction	144	(1)
Market Structures	145	(4)
Evidence About the Market	149	(5)
Exchange Mechanisms	154	(7)
Issues and Conclusions	161	(2)
The Role of Government in Education	163	(30)
Introduction	163	(1)
The Government in Education	164	(2)
How Government Funds Education	166	(13)
The Costs of Government Provision	179	(11)
Issues and Conclusions	190	(3)
Aggregate Effects of Education	193	(25)
Concepts	193	(1)
Social Effects	194	(6)
Economic Growth Effects	200	(3)
Macro-economic Effects Reconsidered	203	(4)
Issues and Conclusions	207	(2)
Education Policy Using Economics
Economic Concepts in Education	209	(4)
Directions for Policy	213	(5)
Notes	218	(4)
References	222	(28)
Index	250