Paying for Education

Book excerpt: Which type of education should we pay for? How much education should we pay for? Can we buy knowledge about how to improve education? Uniquely presenting a general overview of economic principles applicable to all sectors of education, Paying for Education makes key economic ideas accessible to non-economists, whilst drawing on insights from other social science disciplines. It examines the implications of its analysis, especially for two important areas of policy – paying for teachers and paying for teaching in higher education – in order to highlight some underlying issues and consider alternative policy options, as well as reflect on possible futures. The chapters examine: The value of education for the individual The value of education for society Private and public demands for education Choosing a system to supply education The cost, efficiency and equity of providing education Analysing evidence and case studies on a global scale, Paying for Education is an essential read for academics, educational administrators, policy makers, leaders in educational organisations and all of those interested in the future of how we pay for education.