Abstract
The present time of educational reform and budgetary stringency is a propitious one for improving resource allocation in education through a greater reliance on cost-effectiveness analysis. This article provides a summary of the technique and its applications to educational policy. It concludes that there is great potential for the use of cost-effectiveness applications in education, but there is little capability for doing so among most policymakers. Examples are provided of productive cost-effectiveness applications, and recommendations are made with regard to increasing the capacity of educational evaluators, policy analysts, and decision-makers to use the tools appropriately for more efficient resource allocation.
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