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In this paper (my keynote talk from the 2006 ESPE conference), I discuss the recent upsurge in research on the economics of education that has occurred, especially in Europe. I discuss the reasons for the increased interest and present some examples from my recent research in the area. The paper concludes that the increased research interest seems likely to be sustained for some time to come. [ABSTRACT FROM AUTHOR]

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This paper uses microeconomic data for more than 100,000 European individuals in order to analyse whether the individual economic returns to education vary between migrants and non-migrants and whether any differences in earnings between these two groups are affected by household and/or geographical (regional and interregional) externalities. The results point out that while education is a fundamental determinant of earnings, European labour markets do not discriminate in the returns to education between migrants and non-migrants. Household, regional and supra-regional externalities influence the economic returns to education in a similar way for local, intranational and supra-national migrants. The results are robust to the introduction of a large number of individual, household and regional controls. [ABSTRACT FROM AUTHOR]

This article explores the relationship between graduates' skills and their risk of over-education and unemployment in 17 European countries. Distinguishing between field-specific and academic skills, the authors find that, as predicted by the crowding-out hypothesis, field-specific skills offer more protection against the risk of over-education when the excess labour supply in the occupational domain of the graduate's field of study increases. Conversely, academic skills have that effect when excess supply in the overall labour market is higher. Field-specific skills also protect graduates against the risk of unemployment, whereas graduates' level of academic skills appears to be unrelated to the risk of becoming unemployed. [ABSTRACT FROM AUTHOR]

The article discusses the legitimacy of business schools in providing quality management education to their students aside from the growing financial crisis. It mentions that European business schools are trying their best to cope with the challenges brought by extreme financial pressures. It states that the European Foundation for Management Development (EFMD) is helping business schools to promote management development excellence. Furthermore, European national higher education authorities is developing degree programs with wide administrative workloads to provide intellectual progression and to meet accreditation requirements.

We present estimates of the private and fiscal returns to schooling in 14 European Union countries. Estimates of the private returns to post-compulsory formal education take into account the effects of schooling on wages and employment probabilities and allow for academic failure rates, the direct and opportunity costs of education, and the impact of personal taxes, social security contributions, and unemployment and pension benefits on lifetime earnings. Estimates of fiscal returns capture the long-term effects of a marginal increase in average educational attainment on public finances under conditions that approximate general equilibrium. [ABSTRACT FROM AUTHOR]

Discusses the economic issue of financing education in Europe. Overview of the financial situation of the education sector; Shortcomings of the analytical approach of the problem in the education sector by economists; Issues concerning the field of financing non-market activities.

Discusses the non-monetary benefits (NMB) of education in Europe. Criteria economists use to classify the NMB of education; Dimensions of NMB; List of economic NMB for non-economists.