Economics of Education Study Guide - Julia Weinstock Economics of Education Study Guide Intro Stuff o Economics of Education= how to allocate scarce

Economics of Education Study Guide - Julia Weinstock...

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Julia Weinstock Economics of Education Study Guide - Intro Stuff o Economics of Education= how to allocate scarce resources in education system decision making; restraints because of scarcity o Quantitative Research Methods (McEwan) Descriptive = what is happening?; establishes or refutes patterns in data; quantitative and qualitative Causal = tests for cause and effect; quantitative (regression analysis); does it work? Assignment of treatment needs to be random no selection bias Data does NOT have to be experimental to be causal If factors (like ability) can NOT be controlled for, then NOT causal Random= “gold standard” method Process = why policy intervention does/does not affect policy outcomes; qualitative observations; how does it work Internal validity= identifies causal link between program and outcome External validity= generalized causal link Selection bias= certain factors unaccounted for leading to skewed experimental group No experiment is perfect Experimental= random Treatment group= people that were subjected to policy Counterfactual= go back in time and see outcome if not treatment Control group Problem= selection bias not random Quasi-experimental= selection or random Non- experimental= selection Ways to Determine Causal or Not Propensity Score Margin= assign probability score per student; probability that they receive treatment Regression Discontinuity= some cutoff exists Difference in Differences= take same group and compare before and after results - Private Investment in Education- Human Capital Theory o Human Capital Theory : increased schooling increased productivity increased wages (from general, secondary schooling)
Why do people get educated? What affects demand for an extra year of education? Who affects the cost of one more year (supply) of education?

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