A note on the rising cost of education in Australia

Article

Valadkhani, Abbas, Worthington, A. C. and Layton, Allan P.. 2005. "A note on the rising cost of education in Australia." Economic Papers: a journal of applied economics and policy. 24 (2), pp. 97-106.
Article Title

A note on the rising cost of education in Australia

ERA Journal ID18207
Article CategoryArticle
AuthorsValadkhani, Abbas (Author), Worthington, A. C. (Author) and Layton, Allan P. (Author)
Journal TitleEconomic Papers: a journal of applied economics and policy
Journal Citation24 (2), pp. 97-106
Number of Pages10
Year2005
PublisherJohn Wiley & Sons
Place of PublicationMelbourne, Australia
ISSN0812-0439
1759-3441
Web Address (URL)http://www.ecosoc.org.au/cc/economic-papers-journal-applied-economics-and-policy
Abstract

Human capital, or a better educated labour force, is a major determinant of economic growth and productivity. However, recent trends in the cost of education in Australia may cause growth and productivity to suffer. For example, during the period 1982-2003 inflation rose on average by 4.4 per cent per annum, whereas the cost of education grew overall on average by 7.8 per cent. This has made education a relatively expensive item among Australian households. This paper compares and contrasts the cost of education in Australia and comparable economies with the cost of other goods and services embedded in the CPI
(Consumer Price Index) basket using the latest available quarterly data. Finally, the major determinants of the rising cost of education in Australia are examined. It is found, inter alia, that over the period 1986-2003 the increasing number of students enrolled at non-governmental primary and secondary schools and the introduction of the Higher Education Contribution Scheme (HECS) were two important determinants of the rising cost of education.

Keywordscost of education; inflation; Australia
ANZSRC Field of Research 2020390201. Education policy
380111. Labour economics
380104. Economics of education
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Byline AffiliationsUniversity of Wollongong
Queensland University of Technology
Institution of OriginUniversity of Southern Queensland
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