Education economy

Educational economics analyzes the economic development of a country depending on its level of education. As a branch of economics, it uses the wealth of experience from past decades and uses it to develop theories for increasing productivity.

It has been known since the late 1950s that economic growth can only be increased to a limited extent through more labor and capital investment. The decisive factor, in addition to technical progress, is the employee and his level of training. The fields of activity of the economics of education today include:

  • Investigation of the relationship between investment in education and economic growth
  • Proposals for controlling and planning education funding
  • Research on the funding needs of educational institutions with the aim of improving economic growth
  • Improving school curricula
  • optimal design of educational establishments, correct school size, increased efficiency of training
  • Research into incentive mechanisms to better tap the potential of teachers and students
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