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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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