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Book Code: 9789386397690

Fayaz Ahmed Bhat, Kulsooma Gull

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Dominance of education, knowledge and emergence of human capital were the most significant developments of last half of the 20th century. These are likely to dominate the debates on growth theories in 21th century. It is true that education will not cure all problems of a society but without it no solution of problem is possible. It is the key to economic efficiency, social stability, intellectual flexibility and overall productivity of labour force.

The theme of book is an attempt to evaluate the allocative efficiency of resources devoted to education & its labor market aspects. Its utility lies in mainly in indicating the investment characteristics of education. Education is undoubtedly an investment in future and has distinctive characteristics. The book documents the linkages between higher education and economic development. The linkage in India is discussed with failures, achievements and future prospectus. The related literature was critically evaluated in terms of theoretical bases and empirical findings. The research issues and Policy Implications were mentioned based on said theme followed by future agenda for research.


Dr. Fayaz Ahmed Bhat is working as Nodal Officer ICT/CAL in Department of Education Government of J & K India with expertise on educational administration and planning. He has expertise in economics and carried his doctoral degree on micro econometric analysis of higher education & its labour market aspects, taking case of Indian Information Technology Industry. The author has masters degree in economics and management, followed UGC NET/SET, PGDHE, Diploma in Computers. The author did doctors department of Economics from JMI (central university) New Delhi.  The author has published few books & several research articles in national & international reputed journals. The author presented his work at international level. The author received training on SPSS, R, STATA, E-Views etc at IGIDR Mumbia, ILI Noida, MITS-AP, NIEPA, etc. The author was part of NCEAR & UGC sponsored projects. The author has ten (10) years of teaching, research & admin experience. The author is actively engaged with various academic bodies.

Dr.  Kulsooma Gull has academic expertise in educational psychology, with focus on working women. The author is gold medalist from university of Kashmir. The author holds BSc, B.Ed, M.Ed, M-Phil & Ph.D (Education)  from University of Kashmir. The author published dozens of articles in referred journals. The author is having eight years of teaching and academic administration experiences & presently working in department of education government of J & K India. The author has few books in her credit. The author presented her work on occupational stress, coping strategy & job satisfaction at national & international level. 


An Introductory Economics of Education . 7

Foreword . 9

Acknowledgements . 11

Abbreviations . 13

1. Economics of Education . 15

• Introduction • Research Gaps • Notes

2. Higher Education and Economic Development - An Overview . 27
• Introduction • Notes

3. Higher Education and Labour Market Aspects in India . 41
• Introduction • Economics of Indian Higher Education System • Notes

4. Review of the Related Literature on Economics of Education . 53
• Higher Education, Earnings and Earnings Differentials • Notes

5. Research Issues, Possible Solutions and key Developments . 87
• Conceptual Theoretical Issues • Empirical Research Issues • Notes

6. Conclusions and Policy Implication . 95
• Future Agenda for Research • Notes

7. Bibliography . 101

Index . 131

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