Economics of Education

The module provides an introduction to the role and significance of human capital for the individuals and for the economy. It applies the tools of economic analysis to educational policy and problem solving. This module combines economic theory, econometric literature and institutional literature to examine current issues education. The main part of the course will include theories for individual educational choice, educational production, and the role of the design of the educational system. How should the educational system be designed to secure an adequate supply of highly competent labor? It discusses how globalization and technological progress affect the demand for human capital.