Relationship between education and economic development in building a knowledge economy

Abstract

  The paper deals with the interrelation between the economy and the educational system in the state, the dependence of their development. The authors show it by the example of two contrasting countries in terms of development, Norway and the Central African Republic. The article considers the position of these countries in various ratings reflecting the success of the policy pursued in the state. The authors point to the general characteristics of the economies and education systems of each of the countries under consideration. Emphasis is placed on the fact that education policy and the successful functioning of education itself have an impact on the sustainable development of the state, and the indicators of management effectiveness in the education system and changes in its financing are important aspects of this policy. The paper looks at "educational services" and "education services market" as economic categories. The field of educational services is considered to be one of the most developed economic sectors, because of its productive and profitable function. The article describes the importance and relevance of such science as the knowledge economy and its impact on the development of a competitive economy. The knowledge economy researches features of action of laws of economy in education and preparation of qualified experts for increase of level of knowledge of the population.