Participation in higher education has never been greater, and governments around the world continue to invest huge sums of money in the sector, not least to encourage even more enrolment. Meanwhile, many countries are moving away from centralized, taxpayer-funded systems to more ‘marketized’ models. For these and other reasons, the intersection of economics and higher education has never been more apparent. Increasingly, economic principles are applied to analyses of education and education policy, as scholars and policymakers grapple with difficult questions, such as: how should the costs of higher education be shared between stakeholders? What are the ‘drivers’ of inequality in higher-education participation? And what is the appropriate role for government?
Table of Contents
The Economics of Higher Education: Major Themes in Education
Edited by Gillian Wyness
Section 1: The Economics of HE
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Section 2: Returns to HE: Empirical Evidence
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- Janet Currie and Enrico Moretti. Mother's Education and the Intergenerational Transmission of Human Capital: Evidence from College Openings’, The Quarterly Journal of Economics, 118, 4, 2003, 1495-1532.
Heterogeneity of returns
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- L. Macmillan, C. Tyler and A. Vignoles, ‘Who Gets the Top Jobs? The Role of Family Background and Networks in Recent Graduates’ Access to High Status Professions’, Journal of Social Policy, 44, 3, 2015, 487-515
Section 3. Who Goes to College: Scio-economic and Other Gaps in Participation
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- Flavio Cunha and James J. Heckman, ‘The Technology of Skill Formation’, AEA Papers and Proceedings, 97, 2, 2007, 31-47.
- H. Chowdry, C. Crawford, L. Dearden, A. Goodman and A. Vignoles, ‘Widening Participation in Higher Education: Analysis Using Linked Administrative Data’, Journal of the Royal Statistical Society: Series A (Statistics in Society), 176, 2013, 431–457.
- V. Boliver, ‘How Fair is Access to More Prestigious UK Universities?’, British Journal of Sociology, 64, 2013, 344–364.
- C. Hoxby and C. Avery, ‘The Missing One-offs: The Hidden Supply of High Achieving Low Income Students’, NBER Working Paper No. 18586, 2012, 1-48.
Information and Education Decisions
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- M. McGuigan, S. McNally and G. Wyness, ‘Student Awareness of Costs and Benefits of Educational Decisions: Effects of an Information Campaign’, Journal of Human Capital, 10, 4, 2016, 482–519.
- E. Bettinger, B. Long, P. Oreopoulos and L. Sanbonmatsu, ‘The Role of Simplification and Information in College Decisions: Results from the H&R Block FAFSA Experiment’, Working Paper no. 15361, 2009, NBER, 1-45.
- Christopher Avery and Thomas J. Kan, ‘Student Perceptions of College Opportunities: The Boston COACH Program’, in College Choices: The Economics of Where to Go, When to Go, and How to Pay for It (Chicago: University of Chicago Press, 2004), pp. 355-394.
Section 4. Who does Well in College?
The Higher Education Production Function
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- Scott E. Carrell, Richard L. Fullerton and James E. West, ‘Does Your Cohort Matter? Measuring Peer Effects in College Achievemen’, Journal of Labor Economics, 27, 3, 2009, 439-464.
Dropout and Performance
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- C. Crawford, ‘Socio-economic Differences in University Outcomes in the UK: Drop-out, Degree Completion and Degree Class’, IFS Working Paper W14/31, Institute for Fiscal Studies, 2014, 1-29.
- C. Crawford, P. Gregg, L. Macmillan, A. Vignoles and G. Wyness, ‘Higher Education, Career Opportunities, and Intergenerational Inequality’, Oxford Review of Economic Policy, 32, 4, 2016, 553-575.
- A. Light and W. Strayer, ‘Determinants of College Completion: School Quality or Student Ability?’, The Journal of Human Resources, 35, 2, 2000, 299–332.
Section 5. Financial Aid and Higher Education
Impact on Participation
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- S. Dynarski and J. Scott-Clayton, ‘Financial Aid Policy: Lessons from Research’, The Future of Children, 23, 1, 2013, 67-91.
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- S. Dynarski. ‘Does Aid Matter? Measuring the Effect of Student Aid on College Attendance and Completion’, American Economic Review, 93, 2003, 279–288.
- N. Seftor and S. Turner, ‘Back to School: Federal Student Aid Policy and Adult College Enrollment’, Journal of Human Resources, 37, 2002, 336–352.
- L. Dearden, E. Fitzsimons and G. Wyness. ‘Money for Nothing: Estimating the Impact of Student Aid on Participation in Higher Education’, Economics of Education Review, 43, 2014, 66–78.
- S. Dynarski, ‘Hope for Whom? Financial Aid for the Middle Class and its Impact on College Attendance’, National Tax Journal, 53, 2000, 629–661
- S. Dynarksi, ‘Building the Stock of College Educated Labor', Journal of Human Resources, 43, 3, 2008, 576-610.
Financial Aid Policies – Impact on Attainment
- L. Schudde and J. Scott-Clayton, ‘Pell Grants as Performance-Based Aid? An Examination of Satisfactory Academic Progress Requirements in the Nation’s Largest Need-Based Aid Program’, Research in Higher Education, 57, 8, 2016, 943–967.
- P. Garibaldi, F. Giavazzi, A. Ichino and E. Rettore. ‘College Cost and Time to Complete a Degree: Evidence from Tuition Discontinuities’, Review of Economics and Statistics, 94, 3, 2012, 699–711.
- E. Bettinger, ‘How Financial Aid Affects Persistence’, NBER Working Paper 10242, National Bureau of Economic Research, 2004, 207-237.
- R. Murphy and G. Wyness, ‘Testing Means-Tested Aid’, CESIfo Working Paper No. 6105, 2016, 1-43.
- Sara Goldrick-Rab, et al. ‘Reducing Income Inequality in Educational Attainment: Experimental Evidence on the Impact of Financial Aid on College Completion’, American Journal of Sociology, 121, 6, 2016, 1762-1817.