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Handbook of the Economics of Education, Volume 2

Eric A. Hanushek, Finis Welch
Published Date: 
Amsterdam: North Holland
742 pages
There are many ways to date the development of the economics of education. In the 17th Century, Sir William Petty began writing about the valuation of lives in terms of the productive skills of individuals – a precursor of human capital considerations. Adam Smith followed a century later with direct consideration of the organization and finance of education. Yet, the more natural dating is much more recent with the development and legitimization of the study of human capital lead by Gary Becker, Jacob Mincer, and T.W. Schultz. These initial forays have, however, been followed by a torrent of recent work.


Chapter 13 Using Wages to Infer School Quality
Robert Speakman and Finis Welch

Chapter 14 School Resources
Eric A. Hanushek

Chapter 15 Drinking from the Fountain of Knowledge: Student Incentive to Study and Learn – Externalities, Information Problems and Peer Pressure
John Bishop

Chapter 16 Schools, Teachers, and Education Outcomes in Developing Countries
Paul Glewwe and Michael Kremer

Chapter 17 Has School Desegregation Improved Academic and Economic Outcomes for Blacks?
Steven Rivkin and Finis Welch

Chapter 18 Teacher Quality
Eric A. Hanushek and Steven G. Rivkin

Chapter 19 Teacher Supply
Peter J. Dolton

Chapter 20 Pre-School, Day Care, and After School Care: Who’s Minding the Kids?
David Blau and Janet Currie

Chapter 21 The Courts and Public School Finance: Judge-Made Centralization and Economic Research
William A. Fischel

Chapter 22 Income and Peer Quality Sorting in Public and Private Schools
Thomas J. Nechyba

Chapter 23 Public Intervention in Post-Secondary Education Thomas J. Kane

Chapter 24 US Higher Education Finance
Michael S. McPherson and Morton Owen Schapiro

Chapter 25 Income Contingent Loans for Higher Education: International Reforms
Bruce Chapman