This paper develops a new measure of human capital, calculated as a cohort-weighted average of the quality of education (PISA scores) and the quantity of education (mean years of schooling). Contrary to the existing studies, the relative weights of quality and quantity are estimated (and not calibrated). The quality of education is estimated to be…

This paper introduces and uses Lakatos' idea of research programmes to summarise and critically evaluate academic discourse towards knowledge capital theory. The analysis uses rational reconstruction to formulate the components of the hardcore and protective belt of knowledge capital theory. By critically surveying the literature, it challenges…

Racial affirmative action policies are widespread in college admissions. Yet, evidence on their effects before college is limited. Using four data sets, we study a U.S. Supreme Court ruling that reinstated affirmative action in three states. Using nationwide SAT data for difference-in-differences and synthetic control analyses, we separately…

Founded on several highly influential quantitative studies, the past decade has witnessed the OECD and World Bank increasingly converge on the view that cognitive levels of students and education quality, as proxied by international large-scale assessments (ILSAs), are the primary determinant of national economic growth worldwide. More recent OECD…

Our education system is in desperate need of innovation. Despite radical advances in nearly every other sector, public school students continue to attend school in the same buildings and according to the same schedule as students did more than a hundred years ago, and performance is either stagnant or worsening. One of the most important…

Students receive abundant information about their educational performance, but how this information affects future educational-investment decisions is not well understood. Increasingly common sources of information are state-mandated standardized tests. On these tests, students receive a score and a label that summarizes their performance. Using a…

This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation's average test scores and average schooling attainment are included in a national income model,…

This paper reports on a study of the current state of the art in teaching assessment. The major goal of the study was to examine a sample of assessment systems and then develop a specification for a state-of the art performance assessment system to be used for human capital management functions. The authors hope was that this specification would…

This study responds to a request from the National Board for Professional Teaching Standards to analyze National Board certification among high school teachers in understudied subject areas and locales to help fill gaps in the research literature. The authors also were asked to use multiple indicators of performance. The research team selected two…

There is now unprecedented emphasis on teacher quality in the USA and in many nations around the world with extremely high expectations for teacher performance. Based on the assumption that education and the economy are inextricably linked, it is now assumed that teachers can--and should--teach all students to world-class standards, serve as the…

In this study, we explore the role of education in explaining the labour market outcomes for a sample of graduates in medicine. More specifically, the following research question is answered: To what extent are labour market outcomes of physicians explained by the skills acquired in education, as indicated in the theory of human capital, or by…

The educational outcomes of Indigenous Australians have improved over recent decades. This is evident across a range of indicators on the enrolment, participation and achievement of Indigenous students in the early childhood education and school sectors. There has also been increased representation of Indigenous students in New Apprenticeships and…