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ERIC Number: ED356546
Record Type: Non-Journal
Publication Date: 1992
Pages: 146
Abstractor: N/A
Reference Count: N/A
Education and the Economy: The External Efficiency of Education. Educational Policy and Planning Project.
McMahon, Walter W., Ed.; Boediono, Ed.
External inefficiency in education--inequity between the characteristics of graduates and the job market--is a problem in Indonesia and many other countries. Job markets at the junior secondary level are very tight in Indonesia with low levels of unemployment at all ages, short job-search times, and high real rates of return. Unemployment, however, among the senior secondary vocational and senior secondary general school graduates is high, even though the real rates of return are also high. The same is true for college and university graduates. Rates decrease, however, as years pass after graduation. There are several reasons for this external inefficiency: underinvestment in secondary education, increased use of market signals for planning and annual budgeting decisions, excess"social demand" for higher education and insufficient resource recovery, inaccurate selection criteria, and inadequate educational financing methods. Several policy options could be implemented. The importance of education to economic growth and to reducing inequality can be substantial. But continuous improvements must be made in the external and internal efficiency of education and preparation for jobs. Chapters include information on universal basic education, market signals and labor market analysis, human resource development, financing education, the economics of school expansion, higher education, and graduate job placement. (JPT)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Ministry of Education and Culture (Indonesia).; Agency for International Development (IDCA), Washington, DC.
Authoring Institution: Florida State Univ., Tallahassee. Learning Systems Inst.; Improving the Efficiency of Educational Systems Consortium.
Identifiers - Location: Indonesia