Econometric Analysis of the Supply and Demand of Educational Services Concerning the Specialty 051 «Economics»

Abstract

The article uses econometric methods to build the models of supply and demand for educational services concerning the specialty 051 «Economics» and the educational program «Economic Cybernetics». Samples in the models include almost the entire list of higher education institutions, providing studies in the specialty 051 «Economics» and the educational program «Economic Cybernetics», according to data as of 2019. As a quantitative indicator of the offer, the article uses the cost of educational services for the first academic year under the terms of the contract, the demand – the number of applications submitted. As explaining variables considered as a number of objective characteristics of higher education institutions (HEI) are used the following: the number of budget-financed and licensed places, status, form of ownership, and others. As a subjective characteristic, the concept of «elite» is used, defined by binary change. Using quantitative experiments (based on assessments of the adequacy parameters of the models) it is determined that the elite ones should include the Taras Shevchenko National University of Kyiv, the National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», the National University of «Kyiv-Mohyla Academy». The hypothesis of use by the State-owned HEI of the dumping price strategy has been justified in the modeling of the proposal. Differences have been found in attitudes towards the objective and subjective characteristics of HIA by the administration of HIA (supply) and by applicants (demand).

Keywords

• econometric models
• cost of educational services (training)
• private and public education
• demand
• supply
• elite hei