What is the value of an education? Volume 4 of the Handbooks in the Economics of Education combines recent data with new methodologies to examine this and related questions from diverse perspectives. School choice and school competition, educator incentives, the college premium, and other considerations help make sense of the investments and returns associated with education. Volume editors Eric A. Hanushek (Stanford), Stephen Machin (University College London) and Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw clear lines between newly emerging research on the economics of education and prior work. In conjunction with Volume 3, they measure our current understanding of educational acquisition and its economic and social effects.
- Winner of a 2011 PROSE Award Honorable Mention in Economics from the Association of American Publishers
- Demonstrates how new methodologies are yielding fresh perspectives in education economics
- Presents topics and authors whose data and conclusions attest to the globalization of research
- Complements the policy and social outcomes themes of volume 3
Chapter 1: Personality Psychology and Economics
Chapter 2: Non-Production Benefits of Education: Crime, Health, and Good Citizenship
Chapter 3: Overeducation and Mismatch in the Labor Market
Chapter 4: Migration and Education
Chapter 5: Inequality, Human Capital Formation and the Process of Development
Chapter 6: The Design of Performance Pay in Education
Chapter 7: Educational Vouchers in International Contexts
Chapter 8: Dropouts and Diplomas: The Divergence in Collegiate Outcomes
Chapter 9: The Political Economy of Education Funding
Eric Hanushek is the Paul and Jean Hanna Senior Fellow at the Hoover Institution of Stanford University. He is also chairman of the Executive Committee for the Texas Schools Project at the University of Texas at Dallas, a research associate of the National Bureau of Economic Research, and a member of the Koret Task Force on K-12 Education. He serves as a member of the Board of Directors of the National Board for Education Sciences and of the Governor's Advisory Committee on Education Excellence (California).
Machin, Stephen J.
Steve Machin's main research areas cover empirical work in labour economics, the economics of education and industrial relations. He is currently a Professor of Economics at University College London and Director of the Centre for the Economics of Education and Research Director at the Centre for Economic Performance. He is also one of the Editors of The Economic Journal.
Ludger Woessmann is Professor of Economics at the University of Munich, and holds
a joint appointment as Head of the "Human Capital and Innovation Department at
Ifo Institute for Economic Research, Germany.