Economic evaluation for education and its importance in making educational administrative decisions

Abstract

The usage of quantitative empirical methods in educational administration processes reveals the importance of knowing the aspects of that method by the administrators. One of those aspects is the analytical process in economics which can be used to evaluate education. These processes could be very useful in three educational areas: First: monetary return to the resources used in administrating education. Second: matching the work skills created in educational institutions and the requirements for par-ticular skill in labor markets. Third: measuring the internal and external efficiency of the educational programs. To deal with these three aspects the study recommended that the decision maker could use the follow-ing economical analytical instruments to evaluate his educational programs: cost benefit analysis, cost effectiveness, cost analysis, utility theory, critical path method, program evaluation review technique. The educational administrator as a decision maker can use the analytical processes in economics to give guidance in the way to allocate resources and make decisions more wisely in his institution.