Input–Output Analysis

Saumen Chattopadhyay

in Education and Economics

Published in print October 2012 | ISBN: 9780198082255
Published online January 2013 | e-ISBN: 9780199082070 | DOI:
Input–Output Analysis

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The chapter probes deeper into the meaning of an educational production function. It is argued that an educational institution is not similar to any other manufacturing unit or a factory as portrayed in economic theory and, therefore, an important corollary that there exists a well-defined input–output relation in the provision of education is hardly tenable. Though an educational institution produces many products and uses a variety of inputs of varied quality, it is difficult to define input and output for an educational institution. Concepts used in economic theory like efficiency, rate of return, cost, and productivity which are applied to education are, therefore, questionable. So policy conclusions which follow from the measurement of cost and productivity are to be considered with extreme caution.

Keywords: education; economic theory; input–output analysis; production function; cost; productivity

Chapter.  9719 words. 

Subjects: Economic Development and Growth

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