Methods of Economic Evaluation in Education

Catalog description

Methods of economic evaluation are a critical component of evidence for policymaking. Economic evaluations, mainly cost-effectiveness and benefit-cost analysis, contribute information about costs relative to impacts. Rigorous evidence on effects, and the resources used to produce them, aids in selecting between policy alternatives. This course is designed to provide a strong foundation to prepare researchers to apply the "ingredients method", a rigorous method of evaluating the costs of educational programs. The course is structured to build understanding of the concepts and methods of economic evaluation, the consumption and critique of economic evaluations, and the application of the ingredients method to conduct economic evaluations. More specifically, the goals of the course are: 1) development of a clear and strong understanding of economic evaluation in education; 2) ability to discuss and write about concepts of economic evaluation; 3) assess work for strengths and weaknesses of rigor; 4) design research on cost-effectiveness; 5) conduct research applying methods covered in class to contribute to the field. To achieve these goals, the course will focus on reading and discussion of the textbook and methodological papers on concepts and methods; reading, presenting, discussing, and critiquing published research articles and reports; applying methods and concepts in exercises, group projects, and independent research proposals. Prerequisites: Prior coursework in regression, causal analysis, and program evaluation are helpful but not required. Experience in economics or calculus is not required for this course.