Economic Evaluation in Education: Cost-Effectiveness and Benefit-Cost Analysis

Why should applied researchers be concerned with cost-effectiveness and benefit-cost analyses? Answer: Because it will enable them to discover if a particular program or policy has attained maximum effectiveness for a given budget. The purpose of economic evaluations is to answer efficiency questions about public programs. Performed as cost-effectiveness analysis, it is a method for choosing among alternatives in order to select those that are able to accomplish a given result most parsimoniously. Performed as benefit-cost analysis it is a method for determining whether the society is investing efficiently in education and whether the returns to education justify the costs. Economic Evaluation in Education: Cost Effectiveness and Benefit-Cost Analysis, Third Edition by Henry M. Levin, Patrick J. McEwan, Clive Belfield, Alyshia Brooks Bowden, and Robert Shand provides students with the step-by-step methods to plan and implement such a study. Previously titled Cost-Effectiveness Analysis in earlier editions, the title has been changed to be more descriptive of the content. The book is a core textbook for courses in education and in public policy areas more generally.  In-depth exercises are included at the end of each chapter to enable readers to sharpen their ability to evaluate policy options and program effectiveness (with feedback provided in an Appendix at the end of the book). — ISBN13: 9781483381800