A note on the rising cost of education in Australia
Article
Valadkhani, Abbas, Worthington, Andrew 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. https://doi.org/10.1111/j.1759-3441.2005.tb00997.x
| Article Title | A note on the rising cost of education in Australia |
|---|---|
| ERA Journal ID | 18207 |
| Article Category | Article |
| Authors | Valadkhani, Abbas, Worthington, Andrew C. and Layton, Allan P. |
| Journal Title | Economic Papers: a journal of applied economics and policy |
| Journal Citation | 24 (2), pp. 97-106 |
| Number of Pages | 10 |
| Year | 2005 |
| Publisher | John Wiley & Sons |
| Place of Publication | Australia |
| ISSN | 0812-0439 |
| 1759-3441 | |
| Digital Object Identifier (DOI) | https://doi.org/10.1111/j.1759-3441.2005.tb00997.x |
| Web Address (URL) | https://onlinelibrary.wiley.com/doi/10.1111/j.1759-3441.2005.tb00997.x |
| 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. However, one can argue that the increased cost of education to private households may reflect choices to purchase a higher quality for their children in private schools and as such government should not be concerned about it. 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-government primary and secondary schools and the introduction of the Higher Education Contribution Scheme (HECS) were two important determinants of the rising cost of education. |
| Keywords | Australia; Cost of education; Inflation |
| Public Notes | File reproduced in accordance with the copyright policy of the publisher/author. |
| Byline Affiliations | Queensland University of Technology |
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