Cost Analysis for Improved Educational Policymaking and Evaluation

Tsang, Mun C.

doi:10.1007/0-306-47559-6_9

Cited by 5 publications

(3 citation statements)

References 17 publications

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“…Policy boards, program planners, and taxpayers are especially interested to know whether program investments are paying off in positive results that exceed or are at least as good as those produced by similar programs. Authoritative information on the benefit-cost approach may be obtained by studying the writings of Kee (1995), Levin (1983), and Tsang (1997).…”

Section: Evaluation Modelsmentioning

confidence: 99%

Evaluation Models

Stufflebeam¹

2001

New Drctns Evaluation

199

128

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In entering a new millennium, it is a good time for evaluators to critically appraise their program evaluation approaches and decide which ones are most worthy of continued application and further development. It is equally important to decide which approaches are best abandoned. In this spirit, this monograph identifies and assesses twenty-two approaches often employed to evaluate programs. These approaches, in varying degrees, are unique and cover most program evaluation efforts. Two of the approaches, reflecting the political realities of evaluation, are often used illegitimately to falsely characterize a program' s value and are labeled pseudoevaluations. The remaining twenty approaches are typically used legitimately to judge programs and are divided into questions/methods-oriented approaches, improvement/accountability approaches, and social agenda/advocacy approaches. The best and most applicable of the program evaluation approaches appear to

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Section: Evaluation Modelsmentioning

confidence: 99%

Evaluation Models

Stufflebeam¹

2001

New Drctns Evaluation

199

128

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“…Marginal income acts as a proxy for human development, validated by society. Tsang (1997) defined opportunity costs of education as “the resources utilized in the production of education; they are measured as the economic value of such inputs in their best alternative use” (p. 318). This definition encompasses a more traditional approach to opportunity costs of education, which includes not only the direct and more tangible components of efforts (costs) when pursuing education (i.e., tuition and fees), but also the forgone income during the time spent during the process.…”

mentioning

confidence: 99%

“…This definition encompasses a more traditional approach to opportunity costs of education, which includes not only the direct and more tangible components of efforts (costs) when pursuing education (i.e., tuition and fees), but also the forgone income during the time spent during the process. However, moving beyond Tsang's (1997) approach to opportunity costs of education, this study focuses on existing concerns related to expected college or skill premiums (Hendel et al, 2005) at each postsecondary level (i.e., bachelor's and advanced degrees), by relying on a stronger link to economic theory when exploring opportunity costs as the lifelong forgone opportunities or benefits related to the declined education.…”

mentioning

confidence: 99%

Trends in opportunity costs of U.S. postsecondary education: A national HRD and human capital theory analysis

Cornacchione

Daugherty

2013

New Horizons in Adult Education and Human Resource Development

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The purpose of this study was to explore opportunity costs of postsecondary education in the U.S. in the past three decades (1975‐2005), as a measure to support investment decisions at national levels and as experienced by individuals deciding on pursuing further education. Based on human capital theory and inspired by a set of studies aiming at investment decisions in education, official data from the U.S. Census (i.e., CPS), along with parameters for high education achievement, were fed into a forecasting model developed for this purpose. The model included parameters for degree completion rate, time for completion, expectation of working years, retirement age, inflation and interest rates for time value of money adjustments focusing on marginal annual income flows. Seven research hypotheses were tested under this ex post facto design employing elements of both descriptive and causal‐comparative research methods. The primary finding is that the postsecondary education opportunity costs for both males and females have been increasing in the analyzed period, along with a significant correlation with enrollment rates. When considering opportunity costs of bachelor's degrees across gender, the trend is somewhat steady. However, in the case of advanced degrees, there appears to be an increase in the absolute gap based on gender in the second half of the analyzed period. Beyond descriptive statistics, trends, and prediction models of opportunity costs for bachelor's or advanced degrees, findings on college premiums and gender differences are discussed in light of the National HRD framework.

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Economic Approaches to Adequacy

Imazeki

2010

International Encyclopedia of Education

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Cost Analysis for Improved Educational Policymaking and Evaluation

Cited by 5 publications

References 17 publications

Evaluation Models

Evaluation Models

Trends in opportunity costs of U.S. postsecondary education: A national HRD and human capital theory analysis

Economic Approaches to Adequacy

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