In fundamental economics, individuals acquired education for two broad reasons, as an investment and as consumption. The investment function of education has continued to create tension for job search leading to cases of unemployment. Entrepreneurship education and establishment of mega universities have been identified as panaceas. This paper…

This publication is a discussion of the concept of an educational production function, a mathematical formulation of the relationship between inputs and outputs in education. A description of how a production function can direct decision making toward economic efficiency precedes a theoretical discussion of the nature of actual estimation. Several…

The interests of economists in educational systems have taken two directions: (1) Concern for the interchange of resources between educational systems and the national economy, and (2) an interest in the production of education. In expressing the resource interchange, economists rely on the language of productivity. Of concern is the global…

This paper discusses a statistical analysis of the impact on student learning of socioeconomic characteristics, certain aspects of the school environment, and the amount of educational resources expanded on students. It is felt that the analysis is quite similar to what economists do when they estimate production functions for films; but that…

This report explores some techniques that could assist educational managers in their attempts to arrive at more optimal input and output mixes. Following a review of the literature on input-output analyses in education and a description of the Pennsylvania Educational Quality Assessment Program (the basis of the present study), an empirical…

Eighth grade students, randomly assigned to three criterion performance levels, studied matrix algebra in three programed lessons. Student achievement, ability, time spent, and other measures were obtained; and minimal variance criterion performance levels, analogous to production isoquants, were attained. A Cobb-Douglas (log-linear) function was…

This book presents the results of 15 years of input-output (I-O) research on schooling effectiveness. The I-O approach identifies and measures the inschool and out-of-school factors that contribute to schooling outcomes, especially reading skills and verbal and mathematics achievement. Five categories of inputs are reviewed in this textbook: (1)…

The National Center for Education Statistics (NCES) commissioned the papers in this publication to address advances in measuring education inflation and adjusting for it, as well as to examine the emergence of a new focus on school spending, rather than school district spending, as well as new, private sources of funding for public education, and…