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◄Faculty of Economics and Administration►



                                        EQD 7009 ECONOMICS OF EDUCATION
                 Learning Outcomes             At the end of the course, students are able to:

                                               (1) Review major theories of education as human and social
                                                  capital;
                                               (2) Compare  developing  world  experiences  in  economics
                                                  educational development
                                               (3) Formulate policies and strategies to solve economics of
                                                  education-related problems.
                 Synopsis of Course            This course will provide an introduction to the various ways
                 Contents                      in which education can promote economic growth and well-
                                               being in developing countries. The emphasis will be on the
                                               economic  pathways  and  values  of  education  though
                                               broader political and social significance of schooling will be
                                               also  discussed.  The  course  will  provide  an  opportunity  to
                                               revisit  many  familiar  development  problems  as  well  as
                                               policy dilemmas (including bi-directional relationships). For
                                               instance,  we’ll  discuss  how  educational  expansion  can
                                               promote  democracy,  aid  economic  growth  and  help  build
                                               social capital. At the same time, we will highlight instances
                                               when public investment in education is not a panacea and
                                               may create no human capital. We will do so by elaborating
                                               on  the  manifold  demand  and  supply-side  challenges  that
                                               arise  when  pursuing  an  education-focused  development
                                               strategy.  This  will  include  review  of  specific  education
                                               policies and systems of transition economies (such as India
                                               and  China)  and  economic  analysis  of  educational
                                               interventions.  It  is  therefore  expected  that  the  course  will
                                               also  provide  a  balanced  overview  of  the  theoretical  and
                                               practical  aspects  of  implementing  policies  to  achieve
                                               specific economic and social objectives through educational
                                               investment.
                 Assessment                    Continuous Assessment: 60%
                                               Final Examination: 40%
                 Main Reference                (1)   Claudia  Goldin  and  Lawrence  F.  Katz  The  Race
                                                     between Education and Technology
                                               (2)   Geraint Johnes The Economics of Education
                                               (3)   Geraint  Johnes  and  Jil  Jhones  International
                                                     Handbook on the Economics of Education
                                               (4)   Hanushek  and Woessmann  The  Knowledge  Capital
                                                     of Nations
                                               (5)   John  Dewey  Democracy  and  Education:  An
                                                     Introduction to the Philosophy of Education
                                               (6)   Lant Pritchett The Re-birth of Education
                                               (7)   How  People  Learn:  Brain,  Mind,  Experience  and
                                                     School. National Academy Press, 2000
                                               (8)   Banerjee, A. and Duflo, Poor Economics
                                               (9)   Easterly, William, The Elusive Quest for Growth
                                               (10)  Todaro  and  Smith  (2011).  Economic  Development
                                                     (12th ed.), Essex: Pearson, Addison Wesley.
                                               (11)  Debraj Ray, ‘Development Economics’.
                                               (12)  Weil, D., (2005), Economic Growth, Addison-Wesley.
                                               (13)  Thirlwall A.P., (2006), Growth & Development, eighth



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