Economics of Public Education:

Regarding the five conditions required in the private market place in order for efficiency to be achieved. The key analysis will be to examine the five conditions

necessary for efficiency in order to see if they exist or can exist in education. If these five conditions are consistent with education, then the logical conclusion

will be to recommend placing education in the private sector, i.e., place it in the private market place; however if one or more of these necessary conditions for

efficiency are not compatible with the “business” of education, then the logical conclusion will be to keep it out of the private market place.

discuss and defend the form(s) of efficiency, the most efficacious market (i.e., public or private), the form of equality, and the form of equity that you believe best

serves public education.

include the competition the U. S. will be in with the rest of the world in the global economy and the skill base that is needed to compete in the knowledge based

economy.

5. You should also provide the rationale that would serve to justify your position.

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