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    HE3034-Economics-of-Education

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    HE3034-Economics-of-Education

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    HE3034-Economics-of-Education

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    of 3

    COURSE OUTLINE

    Course Coordinator Prof Nattavudh Powdthavee (Nick)


    Course Code HE3034
    Course Title Economics of Education
    Pre-requisites HE1001 Microeconomics I or HE2003 Econometrics I or HE2005
    Principles of Econometrics or HE2004 Introductory Econometrics with at
    least a B+
    No of AUs 3
    Contact Hours 39 hours (2 hours lecture + 1 hour seminar)

    Course Aims
    This course combines economic theory and empirical findings to examine different aspects of the
    economics of education. Topics include (but not limited to): The basic theory of investment and
    signalling in education; the empirical problem of disentangling the private return to education
    from the return to innate ability; evidence on the non-pecuniary return to education;
    externalities; the role of early childhood education; the problems associated with giving incentives
    to teachers and students to boost performance; the role of income and inequality of access to
    education; the roles of school inputs such as class size and peers on educational attainment; the
    effects of teachers; the role of non-economic factors in education such as grit and aspirations.
    Through this course, students will gain a basic understanding of different issues in the economics
    of education literature and how to analyse educational policy outcomes, which will be relevant for
    policy making in the real world.

    Intended Learning Outcomes (ILO)


    By the end of this course, you should be able to:
    1. Understand basic theories behind the educational production function and the economic
    perspective on education
    2. Read and understand articles on the research frontier of economics of education and child
    development
    3. Understand econometric identification issues in the economics of education literature
    4. Understand and analyse educational policy outcomes

    Course Content
    Topics include (but not limited to)
    • The basic theory of investments in education
    • Signalling theory
    • Identification of private and public returns to education
    • Early childhood intervention and skill formation
    • The pros and cons of giving incentives to teachers and students to boost performance
    • The roles of school inputs such as class size and peer effects
    • The effects of teachers and family
    • The importance of soft skills such as personality traits and grit
    • The roles of institutions and educational policies

    1
    Assessment (includes both continuous and summative assessment)

    Component Weighting
    Continuous Assessment: 40%
    Final examination: 60%
    Total: 100%

    Reading and References

    The reading-materials listed here are the limitations readings only and should only be used for
    guidelines. I will include many more materials from other sources in the lecture notes.

    • Harmon, C., Oosterbeek, H., & Walker, I. (2003). The returns to education:
    Microeconomics. Journal of Economic Surveys, 17(2), 115-156.
    • Cunha, F., & Heckman, J. (2007). The technology of skill formation. American Economic
    Review, 97(2), 31-47.
    • Heckman, J. J. (2006). Skill formation and the economics of investing in disadvantaged
    children. Science, 312(5782), 1900-1902.
    • Card, D., & Krueger, A. B. (1992). Does school quality matter? Returns to education and
    the characteristics of public schools in the United States. Journal of political
    Economy, 100(1), 1-40.
    • Card, D., & Krueger, A. B. (1992). Does school quality matter? Returns to education and
    the characteristics of public schools in the United States. Journal of political
    Economy, 100(1), 1-40.
    • Card, D. (2001). Estimating the return to schooling: Progress on some persistent
    econometric problems. Econometrica, 69(5), 1127-1160.
    • Oreopoulos, P., & Salvanes, K. G. (2011). Priceless: The nonpecuniary benefits of
    schooling. Journal of Economic perspectives, 25(1), 159-84.
    • Angrist, J. D., & Lavy, V. (1999). Using Maimonides' rule to estimate the effect of class size
    on scholastic achievement. The Quarterly journal of economics, 114(2), 533-575.
    • Hoxby, C. M. (2000). Does competition among public schools benefit students and
    taxpayers?. American Economic Review, 90(5), 1209-1238.
    • Kremer, M., Miguel, E., & Thornton, R. (2009). Incentives to learn. Review of Economics
    and Statistics, 91(3), 437-456.
    • Jacob, B. A., & Levitt, S. D. (2003). Rotten apples: An investigation of the prevalence and
    predictors of teacher cheating. The Quarterly Journal of Economics, 118(3), 843-877.
    • Chowdry, H., Crawford, C., Dearden, L., Goodman, A., & Vignoles, A. (2013). Widening
    participation in higher education: analysis using linked administrative data. Journal of the
    Royal Statistical Society: Series A (Statistics in Society), 176(2), 431-457.
    • Vignoles, A. F., & Powdthavee, N. (2009). The socioeconomic gap in university
    dropouts. The BE journal of economic analysis & policy, 9(1).

    2
    Instructor Office Location Email
    Nattavudh Powdthavee (Nick) SHHK-04-72 nick.powdthavee@ntu.edu.sg

    Planned Weekly Schedule

    Week Topic ILO Readings/ Activities


    1 Introduction to the economics of education 1, 2 Lecture notes
    2 Estimating the economic return to education (I) 1, 2, 3, 4 Lecture notes
    3 Estimating the economic return to education (II) 1, 2, 3, 4 Lecture notes
    4 Are there any non-pecuniary returns to education? 1, 2, 3, 4 Lecture notes
    5 Technology of skill formation and the role of early 1, 2, 3, 4 Lecture notes
    interventions (I)
    6 Technology of skill formation and the role of early 1, 2, 3, 4 Lecture notes
    interventions (II)
    7 Education policy: The importance of school inputs (I) 1, 2, 3, 4 Lecture notes

    Recess Week
    8 Education policy: The importance of school inputs 1, 2, 3, 4 Lecture notes
    (II)
    9 Education policy: vouchers and school choice (III) 1, 2, 3, 4 Lecture notes
    10 The roles of incentives in boosting educational 1, 2, 3, 4 Lecture notes
    attainment
    11 The importance of growth mindset, grit, and 1, 2, 3, 4 Lecture notes
    aspirations on educational performance
    12 Higher education 1, 2, 3, 4 Lecture notes
    13 Revision 1, 2, 3, 4

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