RATE OF RETURN AS AN INDICATOR OF COST-BENEFIT ANALYSIS IN EDUCATION
José B. Huerta P.
Universidad Rafael Belloso Chacín
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ABSTRACT
This investigation belongs to the environment of the economy and the public policies. Their purpose is to confirm the validity of the pattern of the return rate for the cost-benefit analysis in education, by means of the empiric verification in the Venezuelan context, in order to recommend the adjustments that are required and that they allow the effective use of its results in the design of political educational. Sustained in the theory of human capital, he/she leaves of the supposition that the wage is an indicator of the productivity of the manpower, the return rate it establishes a relationship among the investment in education and the obtaining of more wages. The main actual observations are related to the inputs of the function and to the interpretation of their outputs. It concludes that applying the necessary adjustments, the private return rate of the education continues being a valuable tool for decisions making, as much in the financial thing as in the programmatic thing. In spite of the signal limitations, their use is recommended in Venezuela.
Words key:rate return of education, cost-benefit analysis, human capital..
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