CONSIDERATIONS ON THE IMPLEMENTATION OF COST-BENEFIT ANALYSIS IN EVALUATING THE EFFICIENCY OF INVESTING IN HIGHER EDUCATION

Applying cost-benefit analysis in education is aimed at evaluating the costs and benefits of public investment in education. The costs and benefits appear both in the present and in the future. One problem encountered in applying cost-benefit analysis in education is the time factor because, in this case, most of the benefits occur in the long term. Also, it is difficult to demonstrate if productivity increases due to higher education. In this situation, taking into account the principles of cost-benefit analysis, the paper aims to address issues related to the needs of society, efficiency, equity, costs and potential benefits of public financing of higher education.