Klimuk V.V. Application of Production Functions of Education in the System of Analytical and Predictive Simulation

Vladimir V. Klimuk
Baranavichi State University, Baranavichy, Republic of Belarus

Abstract. This research is focused on the importance of education system improvement as a fundamental basis for human capital development. The object of research are the results of scientific, innovative-entrepreneurial, educational, and international activity of the system of higher education of the Union State of Belarus and Russia and the institution of higher education “Baranavichy State University” in particular. The subject of research are the tools of simulation of activity results of institutions of higher education on the basis of optimal combination of resource costs when using production functions. The problem is identified. It is connected with the application of production functions of education as the tool of forecasting, planning, and quick adjustment of key indicators of efficiency assessment of educational environment taking into account the changing conditions. The review of scientific sources reflecting the issues of production functions’ application including the area of education was made. The author presented the algorithm of application of production functions in the sphere of education as the instrument of analysis and forecasting effective indicators on the basis of combination of various sets of resources (factors). Herewith, the priorities of activities of institutions of higher education are systematized into four groups of possible results (activity efficiency indicators). They are scientific and research priority, innovative and entrepreneurial priority, competence, and integration. In the framework of each priority the anticipated results are given (12 indicators reflecting the results of performance of mentioned priorities). The development of several options of determining the optimal combination of resource (factors) costs to achieve the planned results in the formalized form of production function of education, corresponding to the mentioned priorities, is presented. The development of production functions for three options is suggested. The first option is an integrated indicator constructed on the basis of standardized coefficients of several indicators within labor and investment factors. The second is a local coefficient which is made on the basis of development of individual production functions for a specific performance indicator of a specific educational organization. The third variant is a systemic ratio which is made on the basis of the development of specific production functions for specific result of national education system.
Key words: production function of education, Union State of Belarus and Russia, labor factor, investment factor, effective indicator, production resources.
Citation. Klimuk V.V., 2023. Application of Production Functions of Education in the System of Analytical and Predictive Simulation. Regionalnaya ekonomika. Yug Rossii [Regional Economy. South of Russia], vol. 11, no. 2, pp. 25-34. (in Russian). DOI: https://doi.org/10.15688/re.volsu.2023.2.3

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