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The economic case for education

Author

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  • Wößmann, Ludger

Abstract

The case for education can be made from many perspectives. This paper makes the case for education based on economic outcomes. Surveying the most recent empirical evidence, it shows the crucial role of education for individual and societal prosperity. Education is a leading determinant of economic growth, employment, and earnings in modern knowledge-based economies. Ignoring the economic dimension of education would endanger the prosperity of future generations, with widespread repercussions for poverty, social exclusion, and sustainability of social security systems. Policy-makers interested in advancing future prosperity should particularly focus on educational outcomes, rather than inputs or attainment.

Suggested Citation

  • Wößmann, Ludger, 2016. "The economic case for education," Munich Reprints in Economics 43517, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:43517
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    Cited by:

    1. Sasso, Simone & Ritzen, Jo, 2016. "Sectoral Cognitive Skills, R&D, and Productivity: A Cross-Country Cross-Sector Analysis," IZA Discussion Papers 10457, IZA Network @ LISER.
    2. Prisca Ntemngweh, 2025. "Education-Job Mismatch among University Graduates in Cameroon: Labour Market Experiences, Perceived Causes and Impacts," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3s), pages 1643-1656, March.
    3. Tolga Yuret, 2024. "Career paths of the International Mathematics Olympiad (IMO) medalists," Scientometrics, Springer;Akadémiai Kiadó, vol. 129(6), pages 3469-3491, June.
    4. Ludger Wößmann, 2020. "Folgekosten ausbleibenden Lernens: Was wir über die Corona-bedingten Schulschließungen aus der Forschung lernen können," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(06), pages 38-44, June.
    5. Jeromey B. Temple, 2018. "The Association between Stressful Events and Food Insecurity: Cross-Sectional Evidence from Australia," IJERPH, MDPI, vol. 15(11), pages 1-15, October.
    6. Pompei, Fabrizio & Selezneva, Ekaterina, 2021. "Unemployment and education mismatch in the EU before and after the financial crisis," Journal of Policy Modeling, Elsevier, vol. 43(2), pages 448-473.
    7. Driouchi, Ahmed & Harkat, Tahar, 2016. "Macroeconomic and School Variables to Reveal Country Choices of General and Vocational Education: A Cross-Country Analysis with focus on Arab Economies," MPRA Paper 73455, University Library of Munich, Germany.
    8. Stephen Hall & Janine Illian & Innocent Makuta & Kyle McNabb & Stuart Murray & Bernadette AM O’Hare & Andre Python & Syed Haider Ali Zaidi & Naor Bar-Zeev, 2021. "Government Revenue and Child and Maternal Mortality," Open Economies Review, Springer, vol. 32(1), pages 213-229, February.
    9. Yaroslav Kuzminov & Pavel Sorokin & Isak Froumin, 2019. "Generic and Specific Skills as Components of Human Capital: New Challenges for Education Theory and Practice," Foresight and STI Governance, National Research University Higher School of Economics, vol. 13(2), pages 19-41.
    10. Sarah Gust, 2024. "(Not) Going to School in Times of Climate Change: Natural Disasters and Student Achievement," ifo Working Paper Series 413, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    11. Pierre LESUISSE, 2024. "Education, public expenditure and economic growth under the prism of performance," Working Papers of BETA 2024-10, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    12. Bonin, Holger, 2017. "The Potential Economic Benefits of Education of Migrants in the EU," IZA Research Reports 75, Institute of Labor Economics (IZA).
    13. Pierre Lesuisse, 2022. "Education, public expenditure and economic growth under the prism of performance," Working Papers hal-03685311, HAL.
    14. Maciej Albinowski & Iga Magda & Agata Rozszczypała, 2025. "The employment effects of the disability education gap in Europe," Education Economics, Taylor & Francis Journals, vol. 33(5), pages 686-699, September.

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