An Input-Output Model for Educational Planning

Economics of education is comparatively a new field of research. There are, however, five economic aspects of education from which a researcher can choose his field of investigation: (a) educational system supplies personnel with different levels and types of education for employment in various sectors of the economy, (b) it is a widely held view that education contributes positively to a country's economic growth, (c) educational activities generate demand for goods and services and hence create employment in other sectors of the economy, (d) educational system provides employment to a significant proportion of a country's labour force and (e) like any other activity education has also its cost structure.