Determining the cost of adequate education: a critical review of the approaches

R. Ramesh Rao, R. Sivabala Naidu, Rohana Jani

Abstract


Education plays a pivotal role in nation building. As such, it is only natural that a large portion of a country’s annual budget is allocated to this sector. However, policy and decision makers in the education system often find the task of determining the cost of education a tedious and difficult process. This is, in part, due to the complexity of education systems and the large number of stakeholders involved. Thus, it is the purpose of this paper to provide an overview of the term ‘adequate education’ and subsequently critically review the various methods that are currently utilized worldwide to determine the cost of adequate education. In doing so, the paper attempts to compare and contrast the various methods in an objective manner by identifying and evaluating the major advantages and disadvantages of each method.

Full Text: PDF

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.

International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

Copyright © Canadian Center of Science and Education

To make sure that you can receive messages from us, please add the 'ccsenet.org' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.