Money Doesn’t Matter
This is one of the controversial findings of Eric Hanushek ’s educational research: the amount of money spent in an American school district is not related to the amount of student learning in that district. Mr Hanushek is an expert on educational policy and the economics of education. His research spans both the economics of school policy and the impact education has on individuals and economies. Major lines of research have focused on controversial areas of education policy including class size reduction, high stakes accountability and the importance of teacher quality. His recent research emphasises the interaction of education and economic growth.
Eric Hanushek is most widely known for his analysis of the determinants of student achievement. His early analyses documented the inconsistent relationship between school resources and student outcomes. The overall finding was initially very controversial and led to many subsequent studies. Currently, available research leads to the widely accepted conclusion that how money is spent is much more important than how much money is spent. His research related to the high cost and the general ineffectiveness of class size reduction was particularly controversial and entered into a variety of on-going policy debates.
Mr Hanushek will be visiting CESifo from 17 to 24 November. No stranger to CESifo, he is both an Ifo research professor as well as director for the Economics of Education Area of the CESifo Research Network. He has also served on Ifo’s Scientific Advisory Council. His frequent visits to CESifo are aimed at increasing the interaction among researchers in the economics of education on both sides of the Atlantic.
Eric Hanushek is a senior fellow at the Hoover Institution of Stanford University. He received his PhD in economics from MIT and is a distinguished graduate of the United States Air Force Academy.