The economy and the function of production in education

Abstract

Education has a high-priority function in the production of human resources since the human capital is the key factor in the development of the peoples. The production function presents the relation established between the amount of input and intervening factors to produce a certain good, considering its quality. The economists put attention in the way in which the education institutions select the entrances and the way in which they use the specific inputs to obtain a certain product. The questioning that is made today to education is that there has been lost the function of production as a specific function, especially in the high school, where the one observes the greater deficiencies. In order to analyze the quality of the education system and the profile of human resources, the economists use certain parameters consisting of econometric estimations in which different variables are confronted. In order to guarantee that the production function is adequate or that it responds to the demands of the society one requires to determine clear and precise objectives, select the inputs and the strategies that will make possible the concretion of the productive process that will give as a final result or exit a qualified product with certain skills, abilities and knowledge; that is to say, with competences which qualify it to be inserted in the productive sector with effectiveness and efficiency.