An Economics Analysis Of Education

Educational Economics, a branch of Economics, came into being in 1960s. However, since its beginning, there have been many controversies about its core problems such as what the economic value of education is, how we measure the economic value of education and what the relation between economic value of education and economic growth is. This paper aims to research into the above problems and put forward some solutions in the light of which individuals and government will make rational economic decisions on education.The key to interpret the above problems lies in the answer to the question'What is the educational economic value'. Education being positively related to income in the labor market, the increase in income brought by education can be viewed as the educational economic value. This article regards the relation among education, productivity and income as the foundation in the research of economic value of education. If income is measured by marginal productivity. The problem--what the economic value of education is--can be solved once the question of how education improves productivity is answered, if income depends on marginal productivity. As a result, this paper explains the issue of economic value of education from the relation between education and productivity of labor. Specialized courses in colleges educate students from 3 aspects--knowledge from book , mental technique and emotional quotient .The first two aspects are generally regarded as learning technique which cultivates the ability to think and practice of students. For emotional quotient, we hold it is kind of values which come into being after students have received specialized courses and affect their behaviors. This value consists the following factors such as loyalty, punctuality, respects to authorities, creative power and so on. Previous researches weigh much on the effect on productivity which is brought by educated workers with good quality of learning technique. However, what we pay great attention to is the effect that economical...