ABSTRACT
Economists bring a unique, though not always welcome, perspective to the study of education. They recognise that the world does not have infinite resources to spend on education and therefore hard decisions have to be made about where spending would best be directed. Economists use a set of theoretical and empirical tools to provide answers to a wide range of pressing questions in the field of education, such as:
How can we improve educational outcomes and produce education more efficiently?
Why do some individuals acquire less education than others?
What is the impact of education on individuals and the wider economy?
Why should the state invest in education?
