Economics of higher education: a survey of the literature

Abstract

The educational system, especially higher education, as the main engine of knowledge production and distribution in society, plays an important role in the development of economic activities by transferring technology through the training of specialized workforce and creating reforms related to its indigenization. The economy of education is the main highway to achieve sustainable economic growth and competitiveness. Higher education, as the main pillar of the society that produces, distributes and transmits knowledge, plays a major role in the economy. Education generally helps to improve the level of knowledge and information of people. In this research, an attempt has been made to interpret the position of economics in education, financial provision of universities, academic independence in universities, the role of educational economics in entrepreneurship, employment, etc., using a library method. Economically, various theories have been presented to explain the role of education. The theories of human capital, filter, riddle and indicator are the theories that have made the effectiveness of education the main focus of the controversy. Therefore, the category of the usefulness of education to economic-social consequences, it is caused by educational investment, which is in the form of personal and social returns, economic growth, increased productivity, improved income distribution, employability, improved health and hygiene, etc