Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl


2016 | 1 (51) | 20-30

Article title

Metody dyskontowe w ocenie efektywności nakładów na edukację wyższą



Title variants

Cost-benefit methods in the analysis of tertiary education investment

Languages of publication



One of important forms of investment in human resources that can bring benefits both to individuals and the society as a whole is education. Raising the level of education, like any other investment, requires incurring costs in order to achieve certain profits. Balance between planned costs and potential benefits associated with the investment project determines the allocation of funds for its implementation. The paper presents the discount methods as tools to evaluate the efficiency of investment in tertiary education and to determine the private rate of return on investment in education. Classical methods from the arsenal of cost-benefit analysis in the evaluation of investment projects have been described, and selected aspects of their application in the field of analysis of the effectiveness of education at university level have been discussed.




  • Becker G.S., 1993, Human Capital: a Theoretical and Empirical Analysis with Special Reference to Education, 3rd ed., University of Chicago Press, Chicago.
  • Bowman M.J., 1966, The human investment revolution in economic Thought, Sociology of Education, vol. 39, no. 2, s. 111-137.
  • Carrol A.B., Ihnen L.A., 1967, Costs and returns for two years of postsecondary technical schooling: a pilot study, Journal of Political Economy, vol. 75, no. 6, s. 862-873.
  • Cohn E., 1972, On the net present value rule for educational investments, Journal of Political Economy, vol. 80 (2), s. 418-420.
  • Dziechciarz J., 2011, On rate of return measurement in education, Econometrics, no. 194, s. 49-66.
  • Dziechciarz-Duda M., Król A., 2013, On non-monetary benefits of tertiary education, Econometrics, no. 41 (3), s. 78-94.
  • Luty Z. (red.), 1992, Rachunkowość finansowa, Fundacja Rozwoju Rachunkowości w Polsce, Warszawa.
  • McMahon W., 1997, Recent advances in measuring the social and individual benefits of education, International Journal of Education Research, vol. 27 (6), s. 447-532.
  • Mincer J., 1958, Investment in human capital and personal income distribution, Journal of Political Economy, vol. 66 (4), s. 281-302.
  • Mincer J., 1974, Schooling, Experience and Earnings, Columbia University Press, New York.
  • Murphy K., Welch F., 1990, Empirical age-earnings profiles, Journal of Labor Economics, vol. 8, no. 2, s. 202-229.
  • Owens J., 2004, A Review of the Social and Non–market Returns to Education, Education and Learning Network, Wales.
  • Psacharopoulos G., 1995, The Profitability of Investment in Education: Concepts and Methods, The World Bank, Washington, DC.
  • Psacharopoulos G., 2009, Returns to Investment in Higher Education. A European Survey, Progress in Higher Education Reform Across Europe, Center for Higher Education Policy Studies, Enschede.
  • Psacharopoulos G., Woodhall M., 1999, Education for Development. An Analysis of Investment Choices, Oxford University Press, New York.
  • Rada Monitoringu Społecznego, Diagnoza społeczna: zintegrowana baza danych [2011], www.diagnoza.com (22.04.2013).
  • Rogowski W., 2004, Rachunek efektywności przedsięwzięć inwestycyjnych, Oficyna Ekonomiczna, Kraków.
  • Roth N., 2011, The Costs and Returns to Medical Education, University of California, Berkeley.
  • Schultz T.W., 1961, Education and Economic Growth, [w:] Henry N.B. (red.), Social Forces Influencing American Education, National Society for the Study of Education, University of Chicago Press, Chicago.
  • Schultz T.W., 1963, The Economic Value of Education, Columbia University Press, New York.
  • Schultz T.W., 1967, The rate of return in allocating investment resources to education, Journal of Human Resources, vol. 2 (3), s. 293-309.
  • Sierpińska M., Jachna T., 2004, Ocena przedsiebiorstwa według standardów światowych, PWN, Warszawa.
  • Wahrenburg M., Weldi M., 2007, Return on Investment in Higher Education – Evidence for Different Subjects, Degrees and Gender in Germany, Goethe University, Frankfurt.
  • Wolfe B., Zuvekas S., 1997, Nonmarket outcomes of schooling, International Journal of Educational Research, vol. 27(6), s. 491-501.

Document Type

Publication order reference


YADDA identifier

JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.