The economic efficiency of education is also called the internal benefit of education investment and the efficiency of the utilization of educational resources. It refers to the extent to which educational resources are occupied or consumed in order to obtain the same educational achievements or the same quality educational achievements under certain social conditions. The less educational resources are occupied and consumed, the higher its efficiency will be. On the contrary, the more educational resources are occupied and consumed, the lower their efficiency. In short, it is the ratio of educational input to direct educational output. The composition of educational economic efficiency includes the composition of financial utilization efficiency, the composition of personal resource utilization efficiency and the composition of material resource utilization efficiency. Among them, the efficiency of financial utilization generally consists of two parts, namely, the part for personal consumption and the part for public consumption. Personal consumption includes wages, subsidized wages, employee benefits, student grants and funds, and public consumption includes official expenses, equipment purchase expenses, repair expenses, business expenses, business travel subsidies and other expenses. The utilization efficiency of human resources consists of professors and educatees and their knowledge structure, age structure, ability structure and proportion structure among all kinds of personnel; Material resources consist of fixed assets, materials and low-value consumables of the school.

There are many indicators of educational economic efficiency, and the index system used for calculation is as follows:

① Quantitative indicators of educational achievements. This indicator refers to the number of students or graduates trained by the school. It must be assumed that the quality of the students trained is the same when measuring. The calculation formula is:

Utilization efficiency of educational resources = number of educational achievements (number of students or graduates)/consumption of educational resources (total annual expenses)

② Quality index of educational achievements: refers to the investigation of the quality of educational input, which can be compared with the quality of students or graduates in different periods or between different schools. The calculation method is as follows:

Talent cost quality coefficient = (school) (class) (graduate student) average quality/(school) (class) (graduate student) average cost.

③ The utilization index of educational investment talent resources is the number of talents trained by certain educators in a certain period of time. The measurement formula is:

Utilization efficiency of human resources in schools = number of students per year/number of staff in this department × 100%.

④ Utilization index of educational investment material resources: The utilization efficiency of educational material resources refers to the degree of possession and consumption of materialized labor in educational activities. Its utilization index is:

Annual utilization efficiency of material resources =

Total number of students in our school/total annual fixed assets × 100%× depreciation rate+total annual consumption of low-value consumables and materials.

⑤ Utilization index of educational financial resources: There are three forms and four links of school financial resources, namely, budgetary funds, extra-budgetary funds and principal funds; Income, distribution, use and settlement, the formula is:

Average annual expenditure = total annual recurrent education expenditure/total annual students.

Per capita consumption of training a graduate student = cost and/or total number of students per year in the school year × school year.

Annual consumption of extra-budgetary funds for campus activities = annual total extra-budgetary funds/annual total number of students.

Annual per capita principal fund consumption = annual principal fund consumption/annual total number of students.

Economic benefits of education

It refers to the quantitative comparison between the labor cost in the field of education and the economic reward obtained by education. Or in layman's terms, comparing the social investment in education with the national income obtained by relying on this investment, the national income will offset the balance of education investment.