Knowledge of economics is important for individuals to function effectively as citizens in an increasingly connected world economy. Economic literacy includes understanding how economies and markets work, what the benefits and costs of economic interaction and interdependence are, and that people have to make choices because resources are…

Provides microeconomic estimates of the returns to education in Spain, using 1990 Spanish labor force survey data. The rate of return to education is higher for self-employed than for wage and salary workers. Secondary education is better compensated in the private sector, whereas a university education is better compensated in the public sector.…