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Recent developments in the economics of higher education are surveyed and a number of avenues which future research could usefully follow are identified. Particular attention is given to the demand for and supply of higher education, the role of higher education institutions as multi‐product firms, the optimal pattern of provision, and the academic labour market.

Higher education researchers are often challenged by the difficulty of empirically validating causal links posited by theories or inferred from correlational observations. The instrumental variable (IV) estimation strategy is one approach that researchers can use to estimate the causal impact of various higher education–related interventions. In this chapter, we discuss how the body of quantitative research specifically devoted to higher education has made use of the IV estimation strategy: we describe how this estimation strategy was used to address causality concerns and provide examples of the types of IVs that were used in various subfields of higher education research. Our discussion is based on a systematic review of a corpus of econometric studies on higher education–related issues that spans the last 30 years. The chapter concludes with a critical discussion of the use of IVs in quantitative higher education research and a discussion of good practices when using an IV estimation strategy.

This paper aims to find out what attitudes Economics and Business students have towards sustainability and what they expect from their education in relation to the achievement of economic, social and environmental sustainability. The objective is to find out if the studies of Economics and Business favour the development of pro-sustainability attitudes, taking into account factors such as the gender of the students, the course in which they are enrolled and the economic training received before entering university.

A survey was designed covering ecological, social, cultural, economic and political aspects. The survey was conducted among students of the Bachelor’s Degree in Business Administration and Management and the Bachelor’s Degree in Economics. The authors used discriminant analysis and analysis of variance to test the research hypothesis.

Students are concerned about environmental problems and are aware of the need for action, but there is little consensus on the actions needed to overcome them. Some negationist traits are detected: those who rely more on technology give less importance to environmental problems and to the possibility of a major ecological catastrophe. Girls are more in favour of sustainability than boys, and students who have previously studied economics consider that their training has enabled them to evaluate the resources available and necessary to perform any job more than those who have not studied economics, regardless of their sex and year.

Many articles have focused on the importance of sustainability in higher education, but hardly any have analysed the role of economic education in achieving sustainability. Given the importance and the proven inter-relationship between economics and sustainability, with this article, the authors contribute to fill the gap in the literature. It is necessary that current students and future professionals receive adequate economic education.

The course in economics awareness provided by the Enterprise in Higher Education Project at the University of Durham has been designed in response to the revolutionary pressures being exerted from three sources \em\ the schools sector, government and employers \em\ for changes in higher education, not only to broaden the educational provision offered to prospective graduates but also to widen access for other groups who could benefit from higher education. The course is intended both to enable students to deepen their understanding of the economic and political forces which shape their lives and to develop the transferable skills of critical analysis, communication, presentation, and general personal and social skills. Provides an outline of the course, describes students′ responses to it, and considers some possibilities for its future development.

The aim of the research is to estimate the level of the early career gender wage gap in Russia, its evolution during the early stages of a career, gender segregation and discrimination among university graduates, and to identify factors which explain early career gender differences in pay. Special emphasis is placed on assessing the contribution of horizontal segregation (inequal gender distribution in fields of studies and industries of employment) to early-career gender inequality.

The study is based on a comprehensive and nationally representative survey of university graduates, carried out by Russian Federal State Statistics Service in 2016 (VTR Rosstat). The authors use Mincer OLS regressions for the analysis of the determinants of gender differences in pay. To explain the factors which form the gender gap, the authors use the Oaxaca-Blinder and Neumark gender gap decompositions, including detailed wage gap decompositions and decompositions by fields of study. For the analysis of differences in gender gap across wage distribution, quantile regressions and quantile decompositions based on recentered influence functions (RIFs) are used.

The study found significant gender differences in the early-career salaries of university graduates. Regression analysis confirms the presence of a 20% early-career gender wage gap. This gender wage gap is to a great extent can be explained by horizontal segregation: women are concentrated in fields of study and industries which are relatively low paid. More than half of the gender gap remains unexplained. The analysis of the evolution of the gender wage gap shows that it appears right after graduation and increases over time. A quantile decomposition reveals that, in low paid jobs, females experience less gender inequality than in better paid jobs.

The analysis has some important policy implications. Previously, gender equality policies were mainly related to the elimination of gender discrimination at work, including positive discrimination programs in a selection of candidates to job openings and programs of promotion; programs which ease women labour force participation through flexible jobs; programs of human capital accumulation, which implied gender equality in access to higher education and encouraged women to get higher education, which was especially relevant for many developing countries. The analysis of Russia, a country with gender equality in access to higher education, shows that the early career gender gap exists right after graduation, and the main explanatory factor is gender segregation by field of study and industry, in other words, the gender wage gap to a high extent is related to self-selection of women in low-paid fields of study. To address this, new policies related to gender inequality in choice of fields of studies are needed.

It has been frequently stated that gender inequality appears either due to inequality in access to higher education or after maternity leave. Using large nationally representative dataset on university graduates, we show that gender equality in education does not necessarily lead to gender equality in the labour market. Unlike many studies, we show that the gender gap in Russia appears not after maternity leave and due to marital decisions of women, but in the earliest stages of their career, right after graduation, due to horizontal segregation (selection of women in relatively low-paid fields of study and consequently industries).

The chapter attempts to articulate a possibility for integrating a number of perspectives in studying higher education as a scholarly subject in current social science. We begin with the reasons for such an undertaking and its relevance. We then develop several basic definitions in order to establish a common conceptual basis for discussion. The final section presents new institutionalism as one of the ways to integrate several approaches in understanding higher education.

This chapter is rather theoretical and methodological in its outlook. We develop the basic approach that, in many respects, is still a work in progress. We take in this approach a set of arguments that open up new research agenda rather than settled a perception to be accepted uncritically.

Does education affect economic outcomes, and if so, how? Does education finance interact with public policy? And how does education finance policy contribute to the development of a new strategic planning for the next generation, if at all? This chapter reviews recent conceptual and methodological developments in the field of economics and finance of education. The review covers these two major topics and is divided into three sections. First is an overview of the field, including current trends in economics of education in both developed and developing countries. This section incorporates themes such as returns to investment in education, costs of education, education and economic growth, and education market, choice, and incentives. The second section focuses on finance of education and current debates on equality, equity, and efficiency in educational finances. The third section presents summary and discussion. The discussion will bring to light the issues, challenges, opportunities, and future directions of the field. Where appropriate, examples and empirical evidence from both developing and developed countries are presented.

Economics is catering to a diverse student cohort. This cohort needs to be equipped with transformative concepts that students can integrate beyond university. When a curriculum is content-driven, threshold concepts are a useful tool in guiding curriculum re-design. The paper aims to discuss these issues.

The evidence for this pedagogic need can be seen in the UK’s higher education economics curriculum framework which is formulated around the threshold concepts of economics. Through a literature review of the application of threshold concepts in economics, the researcher has systematically re-designed an entry-level economics course. This research has been applied to the course structure, the learning and teaching activities, as well as the assessments. At the end of the semester, students students were surveyed on the student experience of the curriculum design and the course activities. The course grades noted the achievement of the students’ learning outcomes.

When comparing the survey responses and the student course results to the previous semesters, there is a significant improvement in student experience as well as student learning outcomes of the course curriculum.

This research provides curriculum developers with a benchmark and the tools required to transform economics curricula.

An engaging, transformative and integrative entry-level economics course is often the only exposure most business graduates have to the economics way of thinking and practice.

This is the first comprehensive study that applies a curriculum re-design based on threshold concepts across an entry-level economics course.

Higher education institutions (HEIs) offer courses and programmes focusing on sustainability in economics, as courses on sustainable development (SD), which examine the economic, social and environmental dimensions of SD. This paper aims to examine sustainability integration in economics degree programmes.

Through an extensive literature review in Web of Science (WoS) and information search in Google, conducting to 28 relevant case studies, this paper elucidates the emphasis given to sustainability as part of economics degree programmes in HEIs.

The results suggest that, whereas the inclusion of sustainability components in this field is a growing trend, much still needs to be done to ensure that matters related to SD are part of the routine of university students studying economics.

It is worth noting that the literature review conducted in WoS was primarily aimed at assisting in the selection of university case studies. The 28 university case studies scrutinised in this study may lack sufficient representation from numerous developing countries.

This study highlights challenges in integrating the SD into economics degree programmes, suggesting the need for curriculum adjustments as underscoring operational issues, acting as barriers. The inclusion of sustainability in economics programmes must navigate operational issues stemming from packed timetables and busy schedules, requiring innovative solutions.

As far as the authors are aware, this study holds substantial importance in its emphasis on implementing sustainability within HEIs’ economics programmes, assisting in pursuing SD.

The novelty of this study lies in addressing sustainability with the specific economics focus programmes within the HEIs context.

The purpose of this paper is to describe this new evaluation experience with portfolio in economics, not only from the teacher’s point of view but from the student perspective, and all the learning from its implementation; to provide ideas of evaluation practices in virtual and face-to-face modality in international business education; to motivate the rethinking of assessment practices in higher education to combine the best of each modality in the future.

The present work is a case study based on a qualitative description of the implementation of a portfolio as an assessment practice, supported by a reflection questionnaire with students’ perceptions and some elements of metacognition. The first section summarizes the literature used as a theoretical framework of this work. The second section describes the portfolio implementation by analyzing teachers and students reflections with a qualitative approach. The third section presents the findings. The fourth section is a discussion of findings, practical implications, limitations and future research directions. Finally, the conclusions of the work are shared.

Because the portfolio has had overwhelming results to assess what students have learned during the pandemic, it has become the learning and assessment tool after the pandemic, as it transforms the classes experience by shifting the focus from traditional examinations to more comprehensive, personalized and reflective ones. It also empowers students to take ownership of their learning, develop essential skills and cultivate a deeper understanding. Among other benefits, the portfolio means the creation of a safe and supportive environment for honest reflection, the development and design of strategic directions to improve learning and lead students toward metacognitive autonomy. Reflection pieces, a critical component of the portfolio, are a vital tool in the proactive learning process, as through reflection students learn to examine their own performance and discuss strategies to enhance their success in future work.

This work began as an educational experience per se, not for research purposes, which caused it to be systematized and reconstructed in a descriptive way, not to measure quantitative results. In this way, the present work describes that the portfolio helps to achieve better results on students’ learning than traditional examinations but, as another limitation, it does not measure them nor the process. One more limitation of this work is that it was written in a postpandemic context but was implemented during the pandemic; therefore, the circumstances of writing are not the same as those of implementation, and this could also entail a certain margin of decontextualization. At the same time, this is an experience that is still in process and continually being adapted to this changed and changing educational postpandemic context.

One of the main implications of the portfolio experience, transferable to all educational contexts, is that it transforms the final exam into a metacognitive one, letting students be aware of their own process of learning and results – objectives and competences – acquired. In this way, it lets teachers witness a part of the learning process that is not so evident in the traditional assessment practices – focused on some aspect of the learning – as it makes visible the way in which students receive, process and apply content, that is to say, how they make it their own.

The portfolio promotes reflective learning and metacognition, vital skills that benefit students beyond the classroom. This can have a positive impact on societal attitudes toward education and the quality of learning. Of the students, 82% felt the portfolio creation was helpful in their personal and professional lives, suggesting a broader societal impact. The paper’s findings contribute to the body of knowledge about the effectiveness of portfolio-based assessment in higher education, especially in the worldwide transition from online education to postpandemic education. This could guide future studies in similar educational contexts or with different pedagogical innovative tools.

In light of the 2020 pandemic lockdown, this work delves into the pressing need for educators to adapt and modify their teaching approaches. The relevance of this study is accentuated by the worldwide transition from online education to postpandemic education. This paper bridges the gap between theory and practice because the research can be applied to the educational practice of any international business education context, as well as lay the foundations for future research in the field that contributes to increasing evidence of the effectiveness of the use of the portfolio to achieve significant and deep learning in higher education.