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New Articles – Economics


ON THE RELATIONSHIP BETWEEN SELECTED SOCIO-ECONOMIC INDICATORS AND STUDENT PERFORMANCES IN THE PISA 2015 STUDY

Jiří Mazurek, Elena Mielcová

Knowledge is certainly one of the most important assets possessed both by individuals and by societies. In (substantial) part of the World, knowledge of individuals is obtained via a formal education in an educational system divided into subsequent several stages (usually pre-primary, primary, secondary, and tertiary education). Nowadays, populations’ costs of formal public education in the majority of countries constitute a significant portion of national wealth, often exceeding 5% of a gross domestic product. On average, World’s education costs reached 4.7% of the World’s GDP in 2013, according to the World Bank (2017). The costs of private education and especially the costs of tertiary education at the top universities in the USA, Canada, UK, or China are also considerably high.
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