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AMEE Guide No. 123 - How to read studies of educational costs.
S Maloney1,2, D A Cook3, R Golub4
1a Department of Physiotherapy , Monash University , Frankston , Australia.
Medical Teacher
|February 23, 2019
Summary
This guide introduces educational decision-makers to economic cost concepts and how to interpret cost studies. It provides a framework for evaluating educational cost-effectiveness to improve resource allocation.
Area of Science:
- Health Professions Education
- Health Economics
Background:
- Healthcare and health professions education face similar resource allocation challenges.
- Effective decision-making is crucial for navigating limited resources and considering opportunity costs.
Purpose of the Study:
- To introduce educational decision-makers to economic cost concepts.
- To guide the interpretation of educational cost studies for informed decision-making.
Main Methods:
- Review of common study designs in educational cost research.
- Overview of how economic evaluation findings are presented.
- Introduction of a four-step model for appraising economic evaluations.
Main Results:
- Presents a structured approach to understanding and applying economic evaluations in education.
- Empowers decision-makers to critically assess cost-benefit analyses.
Conclusions:
- Effective decision-making in education requires understanding economic principles.
- Cost-conscious evaluation of educational interventions leads to better resource utilization.
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