Chapter 8: Education
Chapter Learning Objectives
After reading the chapter, you ought to understand and be able to explain:
- The concept of investment in human capital and its contribution to growth.
- Why governments in developing countries have accorded high priority to investment in education.
- The main trends and characteristics of education in developing countries.
- The limits of translating increased education into increased development.
- The recent results from randomized trials in education.
- How the private rate of return can diverge from the social rate of return to education and the implications of this divergence for education policy.
- The range of critiques and proposals for reforming education policy in developing countries.
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NOTE TO INSTRUCTORS: the answers to the Exercises are found on the Norton Resource Library, not the Gradebook. To access that go to www.wwnorton.com/nrl.