This document offers a synthesis of the papers presented at the Conference on the Econometrics of Education: Modeling Selectivity and Outcomes, held at CIRANO, April 26 and 27, 2002. The papers serve as a pretext to draw a non exhaustive survey of the state of research in the economics of education. The methods of the economics of education are treated first, followed by a discussion of two important findings of recent research: the variance of the returns to education, and the risk associated with human capital investment. Finally, a series of policy issues are presented: tuition fees, parental contribution to education funding, school vouchers, school dropout, and affirmative action programs.