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Lecture Economics of social issues - Chapter 6: The economics of education: Crisis and reform

As with individuals and families, countries have resources at their disposal which can be devoted to a wide variety of endeavors. From the perspective either of individuals and families or of entire economies, resources to provide basic education are of paramount importance. Chapter 6 provides knowledge of economics of education. Chapter 6 The Economics of Education: Crisis and Reform McGraw­Hill/Irwin Copyright © 2010 by the McGraw­Hill Companies, Inc. All rights reserved. The Crisis in K-12 •

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Chapter 6 The Economics of Education: Crisis and Reform McGraw­Hill/Irwin Copyright © 2010 by the McGraw­Hill Companies, Inc. All rights reserved. The Crisis in K-12 • Declining academic American Eighth Graders verses the World, 2007 achievement • Factors influencing international comparisons Curriculum Teacher preparation Country United States Singapore Japan England Russian Federation Australia Math Science 508 520 593 567 570 554 513 542 572 530 496 515 Length of school day Sweden 491 511 and year Italy 480 495 Expenditures per pupil Norway 469 487 Cyprus 465 452 6-2 International Comparisons of Educational Expenditures Country United States Norway Italy United Kingdom Australia Sweden Japan Expenditures per Student ($) (2003) $8,855 8,476 7,218 7,090 6,894 6,339 6,266 Expenditures as a Percentage of GDP (2003) 3.9 4.6 3.5 4.0 3.4 4.5 2.7 6-3 K-12 as a Purely Private Market Tuition ($) 12,000 a 5,000 b S = MPC = MSC D = MPB 1 E1 E* Education (student-years) 6-4 Increased Demand for Education Tuition ($) 12,000 D1 D 5,000 b c S b1 S1 1 E1 E2 E* Education (student-years) 6-5 ... - tailieumienphi.vn
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