Economic dimensions in education

Martin O'Donoghue

Transaction Publishers

About this ebook

This book examines the economic issues of education from an unusually systematic and broad perspective. Although the book is soundly based in economic theory, it is not heavily mathematical.

Economic Dimensions in Education is designed to provide an introductory analysis of economic issues in education both in academic life and in the general community. Some of the issues discussed include the nature and reasons for public sector activity in education, the role education plays in providing skilled human resources for an economy, and the economic consequences of migration between countries of educated peoples. The book also deals with various aspects of demand: patterns of educational demand, individual demand for education as a form of social investment for the community, and supply aspects of education as related to types and sizes of educational establishments and problems of ensuring the efficient provision of education.

There has been a growing interest in the economic aspects of education. The considerable growth in the volume of educational activity is now at the point where today education is one of the largest industries in most countries and also one of the chief employers of highly skilled personnel. The recognition that education may have a significant influence on the employment and income opportunities and hence affect the distribution of income and wealth in society is also a factor. A final reason stems from the post-war emphasis on economic growth and development, with education playing an important role as a provider of skilled personnel for an economy.

This classic volume is comprehensive, clearly written, and will appeal to undergraduates and first-year graduate students. The treatment is firmly embedded in economic theory and is must reading for those professional economists concerned with education.

Martin O'Donoghue is fellow emeritus of Trinity College, Dublin. He is currently on the board of directors for the Central Bank and Financial Services Authority of Ireland. He has had a long political career and was elected to the lower house of Parliament in Ireland, elected as a senator, and has been appointed to the post of minster for economic planning and development.