MAEES4.1 Microeconomics of Education

This course gives an introduction to general microeconomic principles and theories in the context of education.

Topics include:

•    the decision to invest in education,

•    the efficienty of early and late investments,

•    the organization and production of education,

•    the private and social returns to education, and

•    higher education.

The course provides a broad overview of the microeconomics of education. It includes theoretical models such as human capital theory and its counterpart, the signaling theory. We will discuss the theories and evidence on the production of education ('schooling') both within the initial education and with further or continuous education. The aim is to analyze and understand education policy in economic context.

The purpose of the course is to broaden the student's understanding of educational issues using and applying economic research methodology. The costs and benefits of education to individuals, firms and society, and to use the framework to enable the student to analyze policy issues using the (micro)economic framework of the course.

The course will not use a single text book, rather a collection of relevant literature will be presented in a literature list for this course.