Henry M. Levin is the Director of the Center for Benefit Cost Studies in Education, the William H. Kilpatrick Professor of Economics and Education at Teachers College, Columbia University, and the David Jacks Professor of Higher Education and Economics, Emeritus, at Stanford University. He has been engaged in cost-effectiveness and benefit-cost studies in education and other fields since 1970. He is the author of 22 books and about 300 scholarly articles on these topics as well as others in the economics of education and educational policy.

List of Tables, Figures, and Examples
Preface
Acknowledgments to the Second Edition
Acknowledgments to the Third Edition
About the Authors
Chapter 1. Introduction to Economic Evaluation
1.1. Purpose and Goals of the Book
1.2. The Importance of Economic Evaluations
1.3. Economic Evaluation for Decisionmaking in Education
1.4. Summary of Approaches to Economic Evaluation
1.5. Economic Evaluations and Policymaking
1.6. Outline of the Book
Discussion Questions
Chapter 2. Establishing an Analytic Framework
2.1. Identifying the Problem
2.2. Taking Account of the Audience and Perspective
2.3. Relating Economic Evaluation to the Theory of Change
2.4. Determining If Economic Evaluation Is Necessary
2.5. Conclusions
Discussion Questions
Exercises
Chapter 3. Cost Concepts
3.1. The Concept of Costs
3.2. Cost per Unit
3.3. Costs and the Theory of Change
3.4. Costs Data and Budgetary Information
3.5. Motivation for Cost Analysis
3.6. Conclusions
Discussion Questions
Exercises
Chapter 4. The Ingredients Method
4.1. Identifying Ingredients
4.2. Specifying Ingredients
4.3. Sources of Ingredients Information
4.4. Conclusions
Discussion Questions
Exercises
Chapter 5. Placing Values on Ingredients
5.1. Methods for Valuing Ingredients
5.2. Placing Dollar Values on Ingredients
5.3. Costs Over Multiple Years
5.4. Conclusions
Discussion Questions
Exercises
Chapter 6. Analyzing and Reporting Costs
6.1. Tabulating Total Cost Using a Cost Worksheet
6.2. Reporting Costs
6.3. Allocating Costs Among Constituencies
6.4. Analyzing Cost Determinants and Generalizing Costs
6.5. Conclusions
Discussion Questions
Exercises
Chapter 7. Effectiveness
7.1. Specifying Effectiveness
7.2. Methods for Identifying Effectiveness
7.3. Utility Analysis
7.4. Conclusions
Discussion Questions
Exercises
Chapter 8. Cost-Effectiveness Analysis
8.1. Cost-Effectiveness Ratios
8.2. Alternative Cost-Effectiveness Metrics
8.3. Interpreting Cost-Effectiveness Ratios
8.4. Explaining Cost-Effectiveness Ratios
8.5. Evidence on Cost-Effective Interventions
8.6. Conclusions
Discussion Questions
Exercises
Chapter 9. Estimating Benefits
9.1. The Concept of Benefits
9.2. Specifying Benefits
9.3. Valuing Educational Benefits Through Earnings
9.4. Valuing Educational Benefits Through Shadow Pricing
9.5. Applying Benefits in Benefit-Cost Analysis
9.6. Conclusions
Discussion Questions
Exercises
Chapter 10. Benefit-Cost Analysis
10.1. Combining Benefits and Costs Into Economic Metrics
10.2. Performing Benefit-Cost Analysis
10.3. Examples of Benefit-Cost Analysis
10.4. Conclusions
Discussion Questions
Exercises
Chapter 11. Accounting for Uncertainty
11.1. Type of Uncertainty and Sensitivity
11.2. General Sensitivity Testing
11.3. Sensitivity Testing of Cost Estimates
11.4. Sensitivity Testing of Cost-Effectiveness
11.5. Sensitivity Testing of Benefit-Cost Analysis
11.6. Distributional Issues
11.7. Conclusions
Discussion Questions
Exercises
Chapter 12. Checklist for Economic Evaluations
12.1. A Checklist for Appraising Economic Evaluations
12.2. Appraising Economic Evaluations
12.3. Conclusions
Discussion Questions
Exercises
Chapter 13. Economic Evaluations for Education Policy
13.1. Applying Economic Analysis
13.2. Expanding the Use of Economic Evaluation
13.3. Decisionmaking and Economic Evaluation
13.4. Prioritizing Educational Investments
13.5. Using Economic Evaluations to Improve Education Research
13.6. The Future of Economic Evaluation of Education
13.7. A Final Word
Discussion Questions
Appendix A. Answers to Even-Numbered Exercises
Appendix B. CostOut Tool
References
Index