Evaluation of Higher Education Effectiveness

Abstract

operating characteristics of the educational process and current macroeconomic indicators. The reasons of the poor state of the modern Ukrainian higher education have been highlighted. As the main reasons of the poor quality of the proposed curricula there considered poor quality of teaching staff of higher education establishments and graduates’ striving to gain political rather than human capital. There have been proposed quantitative methods for evaluating the effectiveness of expenditures on higher education based on the data on the level of payment for skilled and unskilled labor, cost of higher education and performance of financial services markets in the country (loan interest rate and the discount rate). It is shown that the recognized leaders of the education market have the best positions in terms of cost-effectiveness. There has been carried out a comparative analysis of budget expenditures on higher education in Ukraine and other countries, which allowed to make a conclusion about the impossibility of growth of budget expenditures in the nearest future and possible significant reduction in the number of higher education institutions as a result of increasing the competition from Eastern European countries with the reformed education system.

Keywords

• effectiveness
• higher education
• human capital
• political capital
• corruption rents