Stephen Machin, Anna Vignoles

What's the Good of Education? (eBook, PDF)

The Economics of Education in the UK

• Format: PDF

Produktbeschreibung

Volumes have been written about the value of more and better education. But is there sufficient evidence to support the commonly held belief that we, as individuals and as a community, should be investing more in education?

This book explores that question in unprecedented detail, drawing on empirical evidence from an impressive array of sources. While much of the focus is on the educational system in the United Kingdom, the book offers lessons of international applicability. A state-of-the-art compendium on education policy and its impact on educational attainment, the book examines numerous large-scale data sources on individual pupils and schools.

The questions the book considers are far-ranging: How much do teachers matter for children's educational attainment? What payoff do people get from acquiring more education when they enter the labor market? How well do education systems function to provide employers with the skills they want?

The book concludes by issuing some strong policy recommendations and offering an evaluation of what does and does not work in improving educational attainment. The recommendations address such issues as school effectiveness, education financing, individual investment in education, government education initiatives, higher education, labor market rewards, and lifelong learning.

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Produktdetails

• Verlag: Verso
• Erscheinungstermin: 5. Juni 2018
• Englisch
• ISBN-13: 9780691188652
• Artikelnr.: 52991418

Autorenporträt

Stephen Machin is Professor of Economics at the University College of London, Research Director of the Centre for Economic Performance at the London School of Economics, and Director of the Centre for the Economics of Education. Anna Vignoles is Senior Lecturer at the Institute of Education and Research Associate of the Centre for Economic Performance at the London School of Economics.

Inhaltsangabe

Preface ix
List of Contributors xiii
Brief Glossary xv
PART 1. INTRODUCTION 1
Chapter One: Overview 3
1.1 Introduction 4
1.2 Who Gets More Education? 5
1.3 Economic Outcomes and Education 9
1.4 What Can Policy Do? 12
Chapter Two: The United Kingdom Education System in a Comparative Context
by K. Hansen and A. Vignoles 13
2.1 Introduction 13
2.2 Main Features of the UK Education System 13
2.3 How Well Is the System Doing? 23
2.4 The UK Education System and the Labour Market in an International
Context 29
2.5 Conclusions 34
PART 2. WHO GETS MORE EDUCATION? 37
Chapter Three: School and Teacher Effectiveness by A. Chevalier, P. Dolton
and R. Levacic 39
3.1 Introduction 39
3.2 Features of the UK Schooling System 39
3.3 Incentives and Quasi-Markets 41
3.4 School and Teacher Effectiveness 45
3.5 The Impact of Resources 49
3.6 Selection and Peer Effects 53
3.7 Conclusions 55
Chapter Four: The Labour Market for Teachers by A. Chevalier and P. Dolton
57
4.1 Introduction 57
4.2 Patterns of Change in the Teacher Labour Market 58
4.3 Teacher Pay 62
4.4 Who Becomes a Teacher? 63
4.5 Feminization of Teacher Supply 65
4.6 Incentives and Teacher Rewards 66
4.7 Variations across Space and Subject 67
4.8 Non-Pecuniary Conditions 68
4.9 Conclusions 69
Chapter Five: Post-Compulsory Education and Qualification Attainment by D.
Clark, G. Conlon and F. Galindo-Rueda 71
5.1 Introduction 71
5.2 Changing Patterns of Participation in Post-Compulsory Education 71
5.3 Staying On after the Compulsory School Leaving Age of 16 74
5.4 Broader Choices at 16 82
5.5 Post-16 Qualifications in the UK 86
5.6 Higher Education 90
5.7 Conclusions 95
Chapter Six: Educational Inequality and Intergenerational Mobility by J.
Blanden, P. Gregg and S. Machin 99
6.1 Introduction 99
6.2 Patterns of Change in Income, Education and Education Policy 100
6.3 Measurement and Data 103
6.4 Evidence on Changes in Intergenerational Mobility and Educational
Inequality 106
6.5 Conclusions 113
PART 3. ECONOMIC OUTCOMES AND EDUCATION 115
Chapter Seven: Measuring the Returns to Education by R. Blundell, L.
Dearden and B. Sianesi 117
7.1 Introduction 117
7.2 Policy Relevance of the Returns to Education 118
7.3 Methodological Issues 124
7.4 Estimation Methods and Results 127
7.5 Limitations 138
7.6 Conclusions and Policy Discussion 142
7.7 Appendix: Comparing Private Rates of Return and Real Return on Debt and
Equity 143
Chapter Eight: Employers' Selection Decisions: the Role of Qualifications
and Tests by A. Jenkins and A. Wolf 147
8.1 Introduction 147
8.2 Why Might Employers Use Qualifications for Selection Purposes? 149
8.3 Qualifications in the Labour Market 150
8.4 What Do Employers Think Qualifications Signal? 154
8.5 Changes Over Time 159
8.6 A Heterogeneous Labour Market 162
8.7 Conclusions 166
Chapter Nine: Evidence on the Balance of Supply and Demand for Qualified
Workers by S. McIntosh 169
9.1 Introduction 169
9.2 Returns to Education 169
9.3 Overeducation and Undereducation 172
9.4 Skills Shortages 176
9.5 Does Supply Determine Demand? 180
9.6 The Impact of Skills Shortages 184
9.7 Summary and Conclusions 185
PART 4. WHAT CAN EDUCATION POLICY DO? 189
Chapter Ten: Economic Evaluation of Education Initiatives by C. Emmerson,
S. McNally and C. Meghir 191
10.1 Introduction: the Evaluation Problem 191
10.2 The Evaluation Problem 192
10.3 Methods of Evaluation 195
10.4 General Equilibrium and Peer Effects 202
10.5 Evaluation in Practice. I. Excellence in Cities 203
10.6 A Summary of Results 208
10.7 Evaluation in Practice. II. Education Maintenance Allowance 210
10.8 Conclusions 215
Chapter Eleven: Education Policy and the Evidence by S. Machin and A.
Vignoles 217
11.1 Introduction 217
11.2 Compulsory Schooling 218
11.3 Post-Compulsory Education 221
11.4 Education and the Labour Market 223
11.5 Closing Remarks 225
References 227