Information, Incentives, and Education Policy (The Sanford J. Grossman Lectures in Economics Series)

Derek Neal Writes That Economists Must Analyze Public Education Policy In The Same Way They Analyze Other Procurement Problems. He Shows How Standard Tools From Economics Research Speak Directly To Issues In Education. For Mastering The Models And Tools That Economists Of Education Should Use In Their Work, There Is No Better Resource Available.-- Humans As Machines -- Learning And Producing -- Earnings Inequality -- A Role For Government -- Appendix: Learn To Learn. Learn To Earn. Then Earn -- Exercises -- Resources And Outcomes -- Waste And Calls For Reform -- Time Series Evidence -- More Court Orders -- Cost-benefit Analyses Are Not Our Focus -- The Education Production Function -- Salary Schedules -- Class Size -- Evidence From Developing Countries -- Approaches To Education Reform -- Exercises -- Assessment-based Incentives -- Defining Terms -- An Empirical Regularity -- Economic Theory And Campbell's Law -- Parallels To Education -- Optimal Incentive Design -- Alignment Problems -- Solutions To Alignment Problems -- Pay For Percentile -- Two Tasks Require Two Measurement Systems -- Who Teaches -- The Limits Of Abi Systems -- Appendix: Empirical Work On Educator Quality -- Appendix: Multi-tasking For Beginners -- Exercises -- Letting Parents Choose -- Attendance Zones -- Deferred Acceptance -- Top Trading Cycles -- Da Vs Ttc -- The Importance Of Being Earnest -- Recent Empirical Work -- Rearranging The Deck Chairs On The Titanic -- Exercises -- Charter Schools -- Lottery Results -- Studies Without Lotteries -- Competitive Pressures On Public Schools -- Competition Is Not A Magic Bullet -- Appendix: Experimental Data And Late For Beginners -- Vouchers -- Baseline Model -- Public Versus Private School Comparisons -- Public School Responses -- Too Focused On Saving Money -- Vouchers Systems Need Accountability Systems -- International Evidence -- Political Barriers -- Design Details, Segregation, And Inequality -- Peer Effects And Complications -- Exercises -- Putting The Pieces Together -- Work To Be Done -- Moving Forward. Derek A. Neal. Includes Bibliographical References And Index. How do we ensure that waste and inefficiency do not undermine the mission of publicly funded schools? Derek Neal writes that economists must analyze education policy in the same way they analyze other procurement problems. Insights from research on incentives and contracts in the private sector point to new approaches that could induce publicly funded educators to provide excellent education, even though taxpayers and parents cannot monitor what happens in the classroom.Information, Incentives, and Education Policy introduces readers to what economists know—and do not know—about the logjams created by misinformation and disincentives in education. Examining a range of policy agendas, from assessment-based accountability and centralized school assignments to charter schools and voucher systems, Neal demonstrates where these programs have been successful, where they have failed, and why. The details clearly matter: there is no quick-and-easy fix for education policy. By combining elements from various approaches, economists can help policy makers design optimal reforms.Information, Incentives, and Education Policy is organized to show readers how standard tools from economics research on information and incentives speak directly to some of the most crucial issues in education today. In addition to providing an overview of the pluses and minuses of particular programs, each chapter includes a series of exercises that allow students of economics to work through the mathematics for themselves or with an instructor's assistance. For those who wish to master the models and tools that economists of education should use in their work, there is no better resource available. How do we ensure that waste and inefficiency do not undermine the mission of publicly funded schools? Derek Neal writes that economists must analyze education policy in the same way they analyze other procurement problems. Insights from research on incentives and contracts in the private sector point to new approaches that could induce publicly funded educators to provide excellent education, even though taxpayers and parents cannot monitor what happens in the classroom. Information, Incentives, and Education Policy introduces readers to what economists knowand do not knowabout the logjams created by misinformation and disincentives in education. Examining a range of policy agendas, from assessment-based accountability and centralized school assignments to charter schools and voucher systems, Neal demonstrates where these programs have been successful, where they have failed, and why. The details clearly there is no quick-and-easy fix for education policy. By combining elements from various approaches, economists can help policy makers design optimal reforms. Information, Incentives, and Education Policy is organized to show readers how standard tools from economics research on information and incentives speak directly to some of the most crucial issues in education today. In addition to providing an overview of the pluses and minuses of particular programs, each chapter includes a series of exercises that allow students of economics to work through the mathematics for themselves or with an instructors assistance. For those who wish to master the models and tools that economists of education should use in their work, there is no better resource available. Contents Preface Introduction 1. Resources and Outcomes 2. Assessment-Based Incentives 3. Letting Parents Choose 4. Charter Schools 5. Vouchers 6. Putting the Pieces Together Notes Bibliography Index