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This book benefited greatly from discussions and suggestions over the years about how we might update, expand, and improve the first edition of this book. Over the span of 17 years and 13 printings, we received considerable feedback from scholars, policy analysts, and students that surely improved the content and presentation of the revision. Many researchers, too numerous to mention, have generously shared their work. We want to express our thanks to all of them. We also thank Darrell R. Lewis and Jon S. Eberling for their review of the final manuscript.

Henry M. Levin wishes to dedicate this edition to the memory of his close friend, Professor Jose Luis Moreno Becerra. Moreno was a professor of applied economics at the University of La Laguna in the Canary Islands, Spain. He was a graduate student in the Economics of Education at Stanford some two decades ago and returned to Spain, receiving the highest score in the nation in a competition for a prestigious professorship in applied economics. Such a performance gave him the first choice of positions at any Spanish university. He returned to his home in the Canary Islands, and over the years, he became a leading voice of the economics of education throughout Spain. He was a founder and the first president of the Economics of Education Society of Spain, a group with a dynamic agenda and an annual meeting of very high quality. His sudden death in 1999 saddened a wide circle of colleagues and friends, and we cherish our associations with him, both academic and personal. We wish to present this as an homage to Jose Luis for his wife, Tere, and his two children, Ernesto and Elena.

Finally, Patrick J. McEwan wishes to dedicate this edition to the memory of his father. Richard T. McEwan always harbored aspirations of being an academic, but his family was not wealthy and many educational opportunities were unavailable. By working many years at a job that was less than fulfilling, he ensured that both his children would be sufficiently privileged to choose careers that were denied to him. Unfortunately, he did not live long enough to share in their accomplishments. If this book succeeds in its goals, then it is partly due to his curiosity, his intellect, and his encouragement.