The aim of this course is to use economic models and the quantitive techniques to study the demand and supply of Education. It also includes analyzing the role of Education in economic development, the effects and reasons for the role of the public sector in Education, and answering key questions on current education policies.
In each part of the course, the theoretical foundations will be reviewed. We will study the main theories explaining the demand for education and the model about supply in this special sector. We will also discuss the proper methodology for estimating those demand and supply models and the main results and limitations of the existence empirical evidence.
Students will acquire the following knowledge skills:
- To understand and analyze education policy problems. Examples of issues being currently debated are the effect over efficiency and equality of opportunities of significantly increasing college tuition fees; whether it is profitable for the society and for the individual to invest more in education, differencing by levels of education; the social and private returns rates of the effect over the quality of education of the increase in the student/teacher ratio; properties of different school choice systems; effects, causes and solutions of the high school drop out rates; etc.
- To understand and analyze the role of education on economic and humand development: the formation of human capital, health, political development and economic prosperity of a society.
- To understand, estimate, and interpret functions of costs and demand in order to know their determinants. and to show their utility for the formulation of education policies and their impact on development.
- To understand, estimate and analyze the effects of determinants of the quality of education.
- To analyze the public sector intervention in education.
- To study and compare different systems of financing Education and their effects.
Moreover, students will improve the following skills :
- Analytical and presentation skills of scientific results.
- Ability to evaluate empirical research in Education.
- Critical analysis of theoretical model and empirical strategies used to answer relevant questions about the education and to evaluate education policies.
With respect to attitudes, as a result of the work done in this course, the following attitudes will be strengthen:
- Curiosity and interest for solving empirical problem with rigour, and to test and quatify answer to questions in this subject.
- Ability of understand and compare several theories offering alternative explanations to a given observed fact.
- Critical attitude to detect wrong arguments and reasonings in the evaluation of education policies.