Economists concerned with human resources and local government finance, specialists in education finance and educational administrators need to be aware of the latest research in the economics of education. Economics of education encourages the development of sound theoretical, empirical and policy research, demonstrating the role of economic analysis in the solution or improved understanding of educational problems and issues.
Economics is a powerful tool for scholars and educational practitioners who wish to develop a better understanding of educational institutions and decisions. This develops an array of skills in the application of economic concepts and theory, in benefit-cost analysis and other evaluative procedures, and in the statistical treatment of mass data. The economics of education is a textbook suitable in particular for planners, policymakers and students in economics and education. It includes a full treatment of recent developments in this rapidly growing field. The central aim of the book is to assist students in viewing the education "industry" and its educational processes through the perspective of economics.