How does education affect economic and social outcomes, and how can it inform public policy? Volume 3 of the Handbooks in the Economics of Education uses newly available high quality data from around the world to address these and other core questions.  With the help of new methodological approaches, contributors cover econometric methods and international test score data.  They examine the determinants of educational outcomes and issues surrounding teacher salaries and licensure.  And reflecting government demands for more evidence-based policies, they take new looks at institutional feaures of school systems.  Volume editors Eric A. Hanushek (Stanford), Stephen Machin (University College London) and Ludger Woessmann (Ifo Institute for Economic Research, Munich) draw clear lines between newly emerging research on the economics of education and prior work.  In conjunction with Volume 4, they measure our current understanding of educational acquisition and its economic and social effects. 

Key Features

  • Uses rich data to study issues of high contemporary policy relevance
  • Demonstrates how education serves as an important determinant of economic and social outcomes
  • Benefits from the globalization of research in the economics of education
  • Readership

    Graduate students and professionals working in economics and education worldwide

    Table of Contents

    Econometric Methods for Research in Education
        Costas Meghir, Steven Rivkin

    The Economics of International Differences in Educational Achievement
        Eric A. Hanushek, Ludger Woessmann

    Education and Family Background: Mechanisms and Policies
        Anders Bjorklund, Kjell Salvanes

    Peer Effects In Education: How Might They Work, How Big Are They and How Much Do We Know Thus Far?      
        Bruce Sacerdote

    Teacher Compensation and Collective Bargaining
        Michael Podgursky

    Licensure: Exploring the Value of this Gateway to the Teacher Workforce
        Dan Goldhaber

    The Economics of Tracking in Education
        Julian R. Betts

    School Accountability
        David Figlio, Susanna Loeb

    The GED
    James Heckman, John Eric Humphries, Nicholas Mader

    Housing Valuations of School Performance
        Sandra Black, Steven Machin

        Stefan C. Wolter, Paul Ryan



    No. of pages:
    © 2011
    North Holland
    eBook ISBN:
    Print ISBN:
    Print ISBN:

    About the editors

    Eric A Hanushek

    Eric Hanushek is the Paul and Jean Hanna Senior Fellow at the Hoover Institution of Stanford University. He is also chairman of the Executive Committee for the Texas Schools Project at the University of Texas at Dallas, a research associate of the National Bureau of Economic Research, and a member of the Koret Task Force on K–12 Education. He serves as a member of the Board of Directors of the National Board for Education Sciences and of the Governor's Advisory Committee on Education Excellence (California).

    Affiliations and Expertise

    Stanford University, Stanford, CA, USA

    Stephen Machin

    Steve Machin's main research areas cover empirical work in labour economics, the economics of education and industrial relations. He is currently a Professor of Economics at University College London and Director of the Centre for the Economics of Education and Research Director at the Centre for Economic Performance. He is also one of the Editors of The Economic Journal.

    Affiliations and Expertise

    University College London and London School of Economics, UK

    Ludger Woessmann

    Ludger Woessmann is Professor of Economics at the University of Munich, and holds a joint appointment as Head of the “Human Capital and Innovation” Department at Ifo Institute for Economic Research, Germany.

    Affiliations and Expertise

    Ifo Institute for Economic Research, University of Munich, Germany


    The Handbook chapters are incisive.  Each one successfully organizes an extensive literature around its core motivations, methodological concerns, and empirical results.  In addition to their concise reviews of existing work, they point the way for new research.

    William Collins, Vanderbilt University


    This Handbook volume offers a lot. Empirical investigators will especially benefits from its broad and insightful review of the methods used to identify and estimate the returns to education and the effects of school and teacher quality on student outcomes and house prices.

    Franco Peracchi, Tor Vergata University