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Education and Economic Growth: Measuring Efficiency in Education Through DEA Method
Abstract
This chapter aims to analyze the framework of education and to measure the efficiency of education by means of the Data Envelopment Analysis method. The Data Envelopment Analysis is a nonparametric method used in operational research and in economics for estimating production frontiers. It can be used to measure empirically the efficiency of decision making units (DMUs). Measuring efficiency in education is of high priority as substantial investments in education are made by the European Union contributing thus to the accumulation and growth of human capital. Education, training and lifelong learning, are important “levers” that contribute towards the economic growth and the enhancement of competitiveness. The skills acquired by the employees through training and lifelong learning raise the corporate competitiveness by achieving economic growth and also assist in meeting their corporate and individual social responsibilities. The educational process at all levels is not just a simple truth that is continuously verified. It is the basis upon which Europe is based on. It is a collective investment of high priority which contributes to the macro and micro-economic objectives of the EU economies. It contributes to the harmonious social growth of the EU countries and the formation of peoples' intellectual culture.
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