Economics of Education

Introduction

Education is a critical factor in a country’s economic growth and competitiveness, as it is through education that the skills and knowledge are acquired which enhance the employment and productivity of the workforce. Furthermore, it promotes innovation, research and development, creating fertile ground for the emergence of new ideas and business opportunities, as well as for upgrading the country’s technology. The economics of education concerns the economic aspect of the educational process and the benefits arising from investment in education. It also analyses questions relating to individuals’ decisions to invest in education, the determinants that shape and influence the demand for and supply of educational services, the ways in which educational services are financed, state intervention in the market for educational services, the effective planning of educational services and the efficient allocation of educational resources, and the long-term impact of education on poverty, economic inequality, unemployment and economic growth.

The ultimate aim of the Course is to train students through asynchronous learning. More specifically, the Course aims both to improve the position of students in the labour market and to disseminate scientific knowledge, as it provides them with empirical knowledge of economic issues in education. Furthermore, it offers trainees basic knowledge and understanding of the economic aspects of education, with a view to developing critical skills and abilities that are essential in modern society and professional life. Participants are expected to understand the impact of the economy on education, to recognise the opportunities and challenges that arise, and to be able to apply this knowledge in their personal and professional environment, making decisions based on a better understanding of economic parameters.