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). 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.
Revises our conclusions about the value of an education by drawing on new data and methodologies
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 internationally recognized for his economic analysis of educational issues, and his research has had broad influence on education policy in both developed and developing countries. He received the Yidan Prize for Education Research in 2021. He is the author of numerous widely-cited studies on the effects of class size reduction, school accountability, teacher effectiveness, and other topics. He was the first to research teacher effectiveness by measuring students’ learning gains, which forms the conceptual basis for using value-added measures to evaluate teachers and schools, now a widely adopted practice. His recent book with Ludger Woessmann, The Knowledge Capital of Nations: Education and the Economics of Growth summarizes research establishing the close links between countries’ long-term rates of economic growth and the skill levels of their populations. He has authored or edited twenty-five books along with over 300 articles. He is a Distinguished Graduate of the United States Air Force Academy and completed his Ph.D. in economics at the Massachusetts Institute of Technology. hanushek@stanford.edu; http://hanushek.stanford.edu/ Stephen J. Machin is a Professor of Economics and Director of the Centre for Economic Performance at the London School of Economics. He is a Fellow of the British Academy, has been President of the European Association of Labour Economists, is a Fellow of the Society of Labor Economists and was an independent member of the UK Low Pay Commission from 2007-14. He was Chair of the Economics and Econometrics sub-panel of the UK’s 2021 Research Excellence Framework. He has researched and published extensively in various areas of empirical economics and public policy, including labour market inequality, the economics of education, industrial relations, social mobility, and the economics of crime. s.j.machin@lse.ac.uk; https://personal.lse.ac.uk/machin/ Ludger Woessmann is the Director of the ifo Center for the Economics of Education and Professor of Economics at the University of Munich. He is also Distinguished Visiting Fellow at the Hoover Institution, Stanford University. Being interested in the determinants of long-term prosperity of mankind, his main research focus is on the economics of education, especially the importance of education for economic prosperity and the effects of school systems on educational achievement and equality of opportunity. He is Fellow of the German National Academy of Sciences Leopoldina, the Academic Advisory Council of the German Federal Ministry of Economics, and the International Academy of Education. https://sites.google.com/view/woessmann-e
"2011 PROSE Award Honorable Mention for Economics"
"The increased importance of knowledge, skills, and information in
the modern economy means that human capital and education will be
even more important in the future than it has been during the past
50 years. ... The articles in these handbook volumes convey
some of the excitement that continues in research on the economics
of education." --Gary S. Becker, University of Chicago
"This important volume follows soon after volume 3, so together
they provide up-to-date expert evaluations of the latest research
findings on the economics of education, including some significant
topics that are little discussed by economists. There are chapters
on how psychological behavior affects economic decisions; the
relation between educational achievement on one hand and criminal
activity, good health, and political participation on the other;
and the relation between education and the process of economic
development. Other chapters address more familiar issues, such as
education and migration, the use of school vouchers, overall school
financing, and performance pay for teachers. One chapter considers
an intriguing issue--whether there has been, or can be, over
education. Most readers will appreciate the chapter on the
determinants of college achievement. Each of the nine long essays
comes with an unusually extensive bibliography. Of strong value for
researchers and professional educators. Summing Up: Highly
recommended. Upper-division undergraduate through professional
collections." --CHOICE, August 2012, Vol. 49, No. 11, page 153
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