A study evaluated diversified secondary school systems in Colombia and Tanzania. It compared advantages that might have accrued to diversified school students and graduates relative to more conventional types of formal training. A random sample of approximately 14,000 school students following diversified and conventional secondary curricula was taken just before graduation to obtain information on students' socioeconomic background and educational characteristics. The same students were contacted one to three years later to record further education or labor market activities. Schools were compared according to four main criteria. One was concerned with equity of access to education, and the other three with the efficiency of resource use: access to the two types of school by students with different socioeconomic origins (equity), cognitive learning outcomes (internal efficiency), labor market outcomes (external efficiency), and cost effectiveness (economic efficiency). Results indicated that compared to schools offering only conventional curricula, the diversified schools recruit more students from poorer origins and impart higher cognitive skills to their graduates. Graduates of such schools often cost more to educate than those of control schools and despite their superior cognitive skills, they did not find jobs more easily and did not earn more than graduates of control schools. (YLB)