Critical Perspectives on Economics of Education

292 Pages·2022·11.691 MB·English

by  Silvia Mendolia (editor), Alfredo R. Paloyo (editor), Oleg Yerokhin (editor), Martin O'Brien (editor)

Critical Perspectives on Economics
of Education
This book brings together leading scholars in the field to provide insights on
economics of education.
The book begins with an overview of education and human capacity devel-
opment and looks at the production of education through individuals’ learn-
ing, education financing, and the role of individual circumstances. It also
analyses the complex relationship between education and mobility and high-
lights what key challenges for education systems in a global world are. Each
chapter provides detailed analysis of interesting and policy-relevant topics in
the fields of education economics and human capacity development.
This book is a useful reference for those who wish to understand the
changing landscape and models of higher education in the context of digital
advances and innovation. It will also be of interest to those in the areas of
education and training.
Silvia Mendolia is Senior Lecturer at the University of Wollongong, Australia.
Martin O’Brien is Associate Professor at the University of Wollongong,
Australia.
Alfredo R. Paloyo is Associate Professor at the University of Wollongong,
Australia.
Oleg Yerokhin is Senior Lecturer at the University of Wollongong, Australia.
Routledge Studies in the Modern World Economy
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Global Analysis through Econometric and Hidden Markov Models
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Neoliberalism in the Emerging Economy of India
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Asian Foreign Direct Investment in Europe
Edited by Prana Krishna Biswas and Robert Dygas
Economic Policy and the Covid-19 Crisis
The Macroeconomic Response in the US, Europe and East Asia
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Industrial Development
How States Build Capabilities and Deliver Economic Prosperity
Greg Clydesdale
Ageing and Effecting Long-term Care in China
Sabrina Ching Yuen Luk, Hui Zhang and Peter P. Yuen
Asian Trade and Investment in Europe
Edited by Prana Krishna Biswas and Robert Dygas
Critical Perspectives on Economics of Education
Edited by Silvia Mendolia, Martin O’Brien, Alfredo R. Paloyo and Oleg Yerokhin
State-Owned Enterprises in the Global Economy
Maciej Bałtowski and Grzegorz Kwiatkowski
For more information about this series, please visit: www.routledge.com/
Routledge-Studies-in-the-Modern-World-Economy/book-series/SE0432
Critical Perspectives on
Economics of Education
Edited by
Silvia Mendolia, Martin O’Brien,
Alfredo R. Paloyo, and Oleg Yerokhin
First published 2022
by Routledge
4 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
605 Third. Avenue, New York, NY 10158
Routledge is an imprint of the Taylor & Francis Group, an informa
business
© 2022 selection and editorial matter, Silvia Mendolia, Martin
O’Brien, Alfredo R. Paloyo and Oleg Yerokhin; individual chapters,
the contributors
The right of Silvia Mendolia, Martin O’Brien, Alfredo R. Paloyo and
Oleg Yerokhin to be identified as the authors of the editorial material,
and of the authors for their individual chapters, has been asserted in
accordance with sections 77 and 78 of the Copyright, Designs and
Patents Act 1988.
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British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
A catalog record has been requested for this book
ISBN: 978-0-367-56986-0 (hbk)
ISBN: 978-0-367-56987-7 (pbk)
ISBN: 978-1-003-10023-2 (ebk)
DOI: 10.4324/9781003100232
Typeset in Galliard
by SPi Technologies India Pvt Ltd (Straive)
Contents
List of figures vii
List of tables ix
List of contributors xi
Foreword xiii
Acknowledgements xvi
List of abbreviations xvii
1 Introduction: Understanding economics of education 1
OLEG YEROKHIN AND ALFREDO R. PALOYO
2 Underrepresentation of women in undergraduate
economics degrees in Europe: a comparison with STEM
and business degrees 6
RIGISSA MEGALOKONOMOU, MARIAN VIDAL-FERNANDEZ, AND
DUYGU YENGIN
3 How should governments finance student loans? Lessons
from around the world 21
BRUCE CHAPMAN, LORRAINE DEARDEN, AND DUNG DOAN
4 Unintended consequences of free education in public
colleges and universities in the Philippines 43
TERESO S. TULLAO, JR. AND MARK GERALD C. RUIZ
5 Education and family structure 62
HAYLEY FISHER
6 Sibling health, schooling, and longer-term
developmental outcomes 102
CHRIS RYAN AND ANNA ZHU
vi Contents
7 Social mobility in the Philippines: a research roadmap 139
CONNIE B. DACUYCUY AND LAWRENCE B. DACUYCUY
8 The effect of class size in schools on student outcomes 166
COLIN GREEN AND JON MARIUS VAAG IVERSEN
9 Returns to education in four transition countries 182
ANITA V. STANEVA, G. REZA ARABSHEIBANI, AND PHILIP MURPHY
10 Distance matters: geographic accessibility and higher
education participation decisions 213
JOHN CULLINAN AND DARRAGH FLANNERY
11 The predictive power of big data in education 237
LORETTI I. DOBRESCU, ALBERTO MOTTA, AND ALEX SCRIVEN
Index 270
Figures
2.1 W/M conversion rate for economics graduates across
Europe, 2015–2018 7
2.2 Conversion rates in economics, STEM, and business in Europe 9
2.A Reference map 13
2.B W/M conversion rates by country 14
3.1 Higher education participation in England by quintiles of
advantage (%) 24
3.2 Growth in higher education participation in England
quintiles of advantage (%) 25
3.3 Estimated maximum TBRL RBs for the bottom 20% of
graduates aged 23–31 30
3.4 US young graduate unemployment rates, 2000–2020 35
3.5 Canadian very young graduate unemployment rates, 2000–2020 36
3.6 Proportion of UK graduates in employment by cohort 37
3.7 Median earnings of UK graduates by cohort 38
4.1 Production of teaching and research in state colleges
and universities before and after the free tuition law:
Edgeworth box diagram 56
4.2 Production of teaching and research in research-oriented
private colleges and universities before and after the free
tuition law: Edgeworth box diagram 57
4.3 Effect of free tuition subsidy in SUCs on the production
possibilities frontier for teaching and research of
universities and colleges 58
5.1 Crude marriage rates for selected countries and years 65
5.2 Average age at first marriage for selected countries and years 65
5.3 Crude divorce rates for selected countries and years 66
5.4 Proportion of population aged 25–55 married by
educational attainment 67
5.5 Proportion of population aged 25–55 divorced by
educational attainment 69
5.6 Proportion of population aged 25–55 cohabiting by
educational attainment 70
viii Figures
5.7 Proportion of women aged 25–40 with any children under
18 by educational attainment 72
5.8 Average number of children for women aged 25–40 by
educational attainment 73
5.9 Proportion of women aged 25–40 who are lone parents by
educational attainment 74
5.10 Current study by age and sex over time in the USA 86
5.11 Current study by age, sex and marital status over time in the USA 87
5.12 Predicted proportions engaged in current study, by
educational attainment and whether divorced in the past year 93
6.1 Effects of school starting rules on school entry in VIC/
ACT, NSW and WA 107
6.2 Variation in family and child characteristics by child’s age 117
6.3 Poor sibling health penalty by school start 119
6.4 Poor maternal health penalty by school start 121
6.5 Poor paternal health penalty by school start 122
9.1 Regional variations in the average schooling by countries 189
9.2 Returns to education by quantiles, Bulgaria 2003 197
9.3 Returns to education by quantiles, Serbia 2003 198
9.4 Returns to education by quantiles, Russia 2003 199
9.5 Returns to education by quantiles, Tajikistan 2003 200
10.1 Sample choice card 224
10.2 Irish HEIs by location and type 225
10.3 Sankey diagram of higher education migration flows by
county and province 226
11.1 Course website engagement 250
11.2 Practice questions database engagement 251
11.3 Economic simulation engagement 252
11.A Feature importance: RF (left) vs. LR (right) for
background & overall engagement models 259
11.B Feature importance: RF (left) vs. LR (right) for overall
engagement models 261
11.C Feature importance: RF (left) vs. LR (right) for online
engagement models 262
Tables
2.A Countries meeting the data criteria to be included in the
main analysis 12
4.1 Budgetary appropriation for Philippine education system
by agencies and institutions (selected years, in million
Philippine pesos) 45
4.2 Costs in higher education institutions (in Philippine pesos) 51
4.3 Costs in selected courses (in Philippine pesos) 51
4.4 Rates of return in selected college degrees: private and
public (Basic Model) 52
4.5 Internal rates of return in selected college degree
programmes: private and public (Alternative A) 53
4.6 Rates of return in selected college programmes: private and
public (Alternative B) 54
4.7 Internal rates of return in selected college programmes:
private and public (Alternative C) 54
5.1 Summary statistics: men and women aged 25–55
(American Community Survey 2008–2018) 89
5.2 Regression results: current study 91
5.3 Regression results: current study by prior educational
attainment 92
6.1 Descriptive statistics by early school start status 109
6.2 Relationship between poor sibling health and home inputs 123
6.3 Narrowing importance of inputs with early schooling 124
6.4 Early school effects on cognitive gaps between children
with and without an ill or disabled sibling, by usage
of child care 127
6.5 Early school effects on cognitive gaps between children
with and without an ill or disabled sibling, by the nature of
the health condition 128
6.6 Early school effects on cognitive gaps between children
with and without an ill or disabled sibling, including
socioeconomic (SES) and demographic background controls 129