The Political Economy of Education

Martin Carnoy (Stanford University, California)

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English

Cambridge University Press
15 February 2024

Educational strategies & policy; Political economy; Educational: Business studies

The Political Economy of Education provides academically rigorous yet clear explanations of the economics and politics driving today's educational systems and how economists analyze them. The book covers a host of topics central to teaching about education and crucial to educational policy. These include how to use the tools of economic and political theory to take critical measure of education's role in social mobility and economic growth, whether good teachers can overcome social class and race achievement gaps, the effectiveness of early childhood and vocational education, and debates on school accountability and whether increasing spending on schooling improves quality. The book also explores worldwide changes in higher education, especially massification and increased stratification and privatization. Written for upper undergraduate and graduate students in economics, public policy, and education and packed with real-world examples, this is an essential text for anyone interested in gaining fresh and international perspectives on education.

By: Martin Carnoy (Stanford University California)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 254mm, Width: 200mm, Spine: 30mm
Weight: 1.192kg
ISBN: 9781009364447
ISBN 10: 1009364448
Pages: 564
Publication Date: 15 February 2024
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

Preface; Part I. Introduction: 1. The political economy of education; 2. The contribution of the economics of education to education policy; 3. The state and education; Part II. Human Capital: 4. Education, labor markets, and earnings; 5. Age-earnings profiles and the returns to human capital; 6. Measuring the returns to investment in education according to the human capital model; Part III. Alternatives to Human Capital: 7. Alternative conceptions of the relation between skill acquisition and productivity; 8. Conditioned choice and discrimination; Part IV. Education, Economic Growth, and Income Distribution: 9. Education and economic growth; 10. Education and income distribution; Part V. Educational Production Functions: 11. Underlying issues in educational production functions; 12. Modeling and estimating educational production functions; 13. Cost-effectiveness and cost-benefit analysis; 14. Issues in early childhood education; 15. Issues in the production of vocational education; Part VI. Teacher Labor Markets: 16. Fundamental elements in the study of teacher labor markets; 17. The supply of and demand for teachers; 18. Teacher salaries; 19. The politics of teacher labor markets; Part VII. School System Accountability: 20. Public sector accountability; 21. Market accountability; Part VIII. Financing Education: 22. Educational spending; 23. Collecting and allocating revenue for education; 24. More spending on education, improved student achievement, and other student outcomes; Part IX. The Political Economy of Higher Education: 25. Higher educational expansion as a global phenomenon; 26. The financing of higher education; 27. Higher education as an industry; 28. Academic labor markets and student college choice strategies; References; Index.

Martin Carnoy is the Lemann Foundation Chair of Education and Economics at Stanford University. He began five decades in the economics of education field studying under Theodore Schultz at the University of Chicago in the early sixties. Since then, he has been engaged in almost every major debate in the field, authoring over forty books and countless articles analyzing educational policy and systems on every continent and developing new frameworks and ways of measuring the process of education. International in outlook, Martin Carnoy has been awarded honorary doctorates around the world. Co-director of the Lemann Center at Stanford, and a former president of the Comparative and International Education Society, Carnoy is also a fellow of the National Academy of Education and of the International Academy of Education.

Reviews for The Political Economy of Education

'Destined to be a milestone in economics, politics of education, and political economy studies, this powerful handbook provides a comprehensive overview of economic research on education and a profound insight into the political role that education plays in society.' Patrizio Bianchi, University of Ferrara; chairholder of the UNESCO Chair in Education, Growth and Equality 'Martin Carnoy has given us a first-rate overview of the key concepts in the economics of education, with a thorough appreciation of the political and institutional contexts in which education policy decisions are implemented both in the US and around the world. What a service to graduate students and their instructors!' Helen F. Ladd, Susan B. King Professor Emerita of Public Policy and Economics at Duke University's Sanford School of Public Policy 'It is nearly impossible to understand education policy without paying attention to its politics. This wonderful book by a world-leading scholar reflects decades of research, teaching, and practice, and masterfully integrates the economics and politics of education. It should be essential reading for students of education.' Karthik Muralidharan, Tata Chancellor's Professor of Economics at the University of California San Diego 'A huge undertaking! Martin's new book is great testament to the value of interdisciplinary work in helping us understand nuance. For those interested in better understanding the workings of educational systems around the world, or in trying to improve them, this book can help you succeed at both.' Guilherme Lichand, Stanford Graduate School of Education