The idea that Asian Americans constitute a "model minority" needing no special help with education or employment is quite widespread, even amongst government officials. This "model minority" thesis has not been investigated empirically, in part because of the lack of a theoretical construct. An interdisciplinary model focusing on educational and income variables has yet to be designed to empirically isolate the negative factors inhibiting the full and equal participation of Asian Americans in the United States economy. The first step toward such a goal is provided in this paper, which focuses on social indicators of education. Discussed in two preparatory sections are: (1) inputs-process-outputs model of education aimed at determining levels of well-being; and (2) the shortcomings of social indicators of education, especially as they refer to minority groups. These sections are followed by a discussion of what is currently the most developed and applied economic model, in the context of an inputs-process-outputs framework, for analyzing interracial, interethnic, and intersex earning differentials. It is proposed that the same model be extended to education so that factors inhibiting the full and equal participation of minority groups may be empirically verified. The earnings differential model is analyzed in detail to clarify how the extension to an education differential model might be accomplished. (CMG)