Imperfect capital markets and investment in education

This paper examines a theoretical issue concerning the relationship between private pecuniary returns to a college education and the fraction of high-school graduates who choose to enroll in college. If capital markets are imperfect in the sense that the rate of interest at which individuals can borrow exceeds the rate at which they can lend, then we cannot rule out the possibility of a paradox; namely, enrollment rates may not always be directly related to the net present value of an education. The result is developed from a two-period utility-maximizing model of an individual's investment decision.     

Book reviews

Declaring Independence: A Guide to Creating Community-controlled Science Journals Policy Approaches to Copyright in HEIs: A Study of the JISC Committee for Awareness, Liaison and Training by Ralph Weedon University of Strathclyde (available from The Centre for Educational Systems, University of Strathclyde, Alexander Turnbull Building, 155 George Street, Glasgow G1 1RD). ISBN 0-9538312-0-5 Internet Publishing and Beyond: The Economics of Digital Information and Intellectual Property edited by Brian Kahin and Hal R. Varian MIT Press, 2000. Pp. 229. Paperback £16.95. ISBN 0-262-61159-7 How to Present at Meetings edited by George Hall. London: BMJ Books, 2001. Pp. ix + 79. £12.95. ISBN 0-7279-1271-2 Dictionary of Printing and Publishing by Michael Barnard and John Peacock Pira International, UK, 2000. Pp. 216. Softcover, £80.00. ISBN 1-85802-3815     

From herbals to Hotbot: the development of journal indexing

The development of journal indexing since the early alphabetical tables to scientific works, culminating in current sophisticated cumulations, is traced. Standards for preparing indexes which have gradually evolved to cope with the increase in volume and complexity of the literature are described.     

Scientific publishing, 17th‐century style: precepts of Francis Bacon

Some principles of scientific investigation, writing and publishing developed by Francis Bacon are quoted and discussed. Many are found to be just as applicable in today's world as they were in the 17th century when his major works were written.     

Qualities of classroom observation systems

ABSTRACT

Observation systems are increasingly used around the world for a variety of purposes; 2 critical purposes are to understand and to improve teaching. As observation systems differ considerably, individuals must decide what observation system to use. But the field does not have a common specification of an observation system, nor does it have systematic ways of thinking about how observation systems are similar and different. Given this reality and the renewed global interest in observation systems, this article first defines the observation system concept and then presents a framework through which to understand, categorize, and compare observation systems. We apply the framework to 4 well-known observation systems that vary in important ways. The article concludes with a discussion of the results of the application of the framework and some important implications of those findings.