The purpose of this paper is to compare the role of human capital accumulation measured by number of years of schooling with the relative contribution of institutional capacity to prosperity. We employ several concepts of institutional quality prevalent in the literature. We discover that developing human capital is as important as superior…

Many instructors in subjects such as economics are frequently concerned with how to teach technical material to undergraduate students with limited mathematical backgrounds. One method that has proven successful for the authors is to connect theoretically sophisticated material with actual data. This enables students to see how the theory relates…

Academic research institutions have long been important economic anchors for New York City. They provide thousands of jobs and serve as a magnet for talented students and faculty, who inject hundreds of millions of dollars into the local economy through federal research grants. Yet, even though New York's concentration of top-fight scientific…

In the past few years an important beginning has been made toward defining and exploring the major issues in the economics of higher education. The research of economists covers a wide range of problems, from that of the Nation's requirements for college-trained people, to detailed questions of financing. Perhaps no single area of this work offers…