ECONOMICS
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

Course Introduction and Application Information

Course Code	Course Name	Semester	Theoretical	Practical	Credit	ECTS
ECO3575	Education Economics	Spring	3	0	3	6

This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction:	English
Type of course:	Departmental Elective
Course Level:	Bachelor’s Degree (First Cycle)
Mode of Delivery:	Hybrid
Course Coordinator :	Assoc. Prof. BÜLENT ANIL
Course Lecturer(s):	Assoc. Prof. BÜLENT ANIL
Recommended Optional Program Components:	None
Course Objectives:	To introduce students to economics of education with a special focus on the education system in Turkey from a comparative perspective.

Learning Outcomes

The students who have succeeded in this course;
1. Understand the decision to invest in education, i.e. human capital accumulation.
2. Learn the possible ways of quantifying the returns to education based on a Mincerian wage regression.
3. Analyse the potential biases, such as ability bias and selection bias in estimating returns to education.
4. Understand the positive externalities associated with education.
5. Learn who to quantify the externalities in education, i.e. the social returns to education.
6. Study student achievement and its determinants such as socioeconomic background, gender and ethnic background
7. Investigate and analyse the effects of early education
8. Analyse the role of peer effects
9. Learn about intergenerational dependency in economics and why education may provide an essential policy instrument.

Course Content

In this course, students will focus on the theories of human capital accumulation and education production framework focusing on the education system in Turkey.

Weekly Detailed Course Contents

Week	Subject	Related Preparation
1)	Introduction to education economics
2)	Theories of human capital accumulation: dynamic optimisation
3)	Theories of human capital accumulation: Signalling model
4)	Estimating the returns to education: Mincerian wage regression
5)	The positive externalities in education and the estimation of social returns
6)	Ability bias and selection bias in estimating the returns to education
7)	Natural experiments and their use in the measurement of the returns to education
8)	The effects of education on children's outcomes and achievement
9)	The role of parents, socioeconomic background and the education system in children's achievement
10)	The determinants of children's achievement in Turkey. PISA results
11)	The role of early childhood education on children's achievement
12)	The role of peer effects in student's achievements
13)	The mechanisms of intergenerational transmission and the effects of education
14)	Review of the course material and preparation for the final exam

Sources

Course Notes / Textbooks:
References:

Evaluation System

Semester Requirements	Number of Activities	Level of Contribution
Attendance	14	% 10
Midterms	1	% 40
Final	1	% 50
Total		% 100
PERCENTAGE OF SEMESTER WORK		% 50
PERCENTAGE OF FINAL WORK		% 50
Total		% 100

ECTS / Workload Table

Activities	Number of Activities	Workload
Course Hours	14	40
Midterms	1	1
Final	1	1
Total Workload		42

Contribution of Learning Outcomes to Programme Outcomes

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	As a world citizen, she is aware of global economic, political, social and ecological developments and trends.	5
2)	He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning.	2
3)	Absorbs basic economic principles and analysis methods and uses them to evaluate daily events.	1
4)	Uses quantitative and statistical tools to identify economic problems, analyze them, and share their findings with relevant stakeholders.	5
5)	Understands the decision-making stages of economic units under existing constraints and incentives, examines the interactions and possible future effects of these decisions.	5
6)	Comprehends new ways of doing business using digital technologies. and new market structures.	3
7)	Takes critical approach to economic and social problems and develops analytical solutions.	1
8)	Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods.	4
9)	In the works he/she contributes, observes individual and social welfare together and with an ethical perspective.	5
10)	Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines.	3
11)	Generates original and innovative ideas in the works she/he contributes as part of a team.	4