ANALYSIS OF EDUCATION IN TERMS OF EXTERNALITIES

Research highlights the problem regarding education externalities in the context of quantifying the effects which it produces on an individual level and at the society level. At the same time, the research highlights the importance of externalities in terms of evaluation of investment policies in education and emphasizes the need for greater concentration, in practice, on these elements. Externalities have to complete any cost-benefit analysis of the education effects, the context in which at the historical timeline, education accompanies the modernization process. In terms of public policy, education is considered public or private property according to its effects on each stage of human development.