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Some Economics of Teaching

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  • Rosen, Sherwin

Abstract

Adam Smith's discussion of the payment of teachers is reviewed in terms of industrial organization and agency theory. The impli cit stu-dent fees necessary to support annual salaries average $1.30 per class meeting in primary and secondary schools and rise to $4.00 per lecture and up for college teachers. While salaries in teaching a re much smaller than in the large-scale visual media, implicit valuat ions per contact hour in teaching are at least six hundred times larg er than in television. Classroom teaching is expensive because a teac her's scale of operations is sharply constrained by the student-teach er ratio. Copyright 1987 by University of Chicago Press.

Suggested Citation

  • Rosen, Sherwin, 1987. "Some Economics of Teaching," Journal of Labor Economics, University of Chicago Press, vol. 5(4), pages 561-575, October.
    • Handle: RePEc:ucp:jlabec:v:5:y:1987:i:4:p:561-75
    DOI: 10.1086/298161
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    Cited by:

    1. Andreas Ortmann & Benoit Walraevens, 2015. "The Rhetorical Structure of Adam Smith’s Wealth of Nations (and the importance of acknowledging it)," Discussion Papers 2014-11A, School of Economics, The University of New South Wales.
    2. Ortmann, Andreas & Walraevens, Benoît & Baranowski, David, 2019. "Schumpeter’S Assessment Of Adam Smith And The Wealth Of Nations: Why He Got It Wrong," Journal of the History of Economic Thought, Cambridge University Press, vol. 41(4), pages 531-551, December.
    3. Andreas Ortmann & Benoit Walraevens, 2014. "The Rhetorical Structure of Adam Smith’s Wealth of Nations (and the importance of acknowledging it)," Discussion Papers 2014-11, School of Economics, The University of New South Wales.
    4. Timothy Perri, "undated". "How Might Adam Smith Pay Professors Today?," Working Papers 04-08, Department of Economics, Appalachian State University.
    5. Alexandre Léné, 2002. "Enterprise-related training and poaching externalities," Post-Print halshs-00150509, HAL.
    6. Alexandre Léné, 2005. "Détournements de main-d'œuvre et externalités de la formation dans un modèle de concurrence imparfaite," Post-Print halshs-00150687, HAL.
    7. Gunnes, Trude & Donze, Jocelyn, 2016. "Teaching Practices and the Management of Student Motivation, Effort and Achievement," MPRA Paper 69954, University Library of Munich, Germany.

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