Economics of Education

The economics of education looks at education from an economic perspective and deals with the results of the education system, which are to be interpreted in the context of the various institutional features of the education system, the social, economic and demographic circumstances. In order to enable an adequate comparison of the evolved education systems and their educational outcomes, various indicators are considered, such as the performance results in international achievement tests, the institutional design of the education system as well as the resources supplied to the education system and thus available to it.