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How education is financing?

The UK government proposed that universities should be able to charge "add-on" fees for example, those who received a higher education degree earn around 50% more than non-graduates, this makes higher education generate both economic benefits and indirect benefits to society for example, part of the costs of higher education is transferred from taxpayers to individual students or graduates.

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Resource Allocation.

The World Bank is the main source of external financing for education in developing countries, primary education should be the priority of public spending, for example in other places the highest priority is primary education focused on girls because investments in all Education levels produce high rates of return, but for low-income countries, primary education should be the priority, on the other hand, higher education can be put aside since it is focused on the primary level as a priority.

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Earning and Productivity.

The structure of wages and prices reflects the balance between supply and demand, some World Bank studies compared the agricultural productivity of farmers who had a higher educational level than others, for example, farmers who had 4 years of primary education their crops were higher than those who did not have primary education as a result of this income does not exactly measure productivity but education increases the productivity of each worker due to the knowledge they possess.

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Education as a filter.

The objective of education is not only to impart knowledge and skills, they are also provided with a certification of the skills, aptitudes and attitudes that students acquire so that in the future they can use their certification to find a paid job and it is better paid.

Students seek high grades to apply for higher jobs but I think that a grade does not always measure knowledge but rather the degree of responsibility in delivering activities and assignments during class.

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Advantages and Disadvantages.

In the different approaches we find some advantages, for example, in the manpower requirement approach, the advantage of obtaining qualified people to acquire a position is also that education influences economic development, on the other hand, an advantage of social demand is the inclusion of careers that require the different companies but if the school does not have the necessary resources it can affect the educational development of the students due to lack of material, finally, the last approach cost benefit analysis has the advantage of analyzing valuable investments and deficient investments but otherwise if a bad investment is made the capital can fall.

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Approach Description.

The approaches are related to education and help it to develop well. The first approach is called the manpower requirement, which is related to the economic development of education. Another characteristic is that it requires people who are qualified to have this position and in relation to educational perspectives.

Another approach is social demand, it is related to educational demand, for example, if the city requires engineers to work in companies or factories, the university will propose engineering focused on certain branches of demand so that each student can prepare and work in the city of demand. It also has financial implications as some majors require an investment of material and equipment to attend those majors and finally the last approach, which is cost benefit analysis, is related to rational resource allocation to find out if the analysis is good, acceptable or poor, since this can be used to evaluate educational projects and rule out poor investments and select valuable investments.

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Gestión Institucional Educativa y Curricular.
Name: Lizbeth Llaritssa García Rodríguez.
Group: 701