ABSTRACT
Education finance and economics researchers tend to investigate three types of efficiency when examining the efficacy of the schooling process (Mayston, 1996):
Technical efficiency: Attempts to maximize student learning and organizational policy outcomes while utilizing given sets of financial and human resource inputs.
Allocative efficiency: Attempts to maximize student learning and organizational policy outcomes, given prices for inputs and the effectiveness of management strategies, while utilizing financial and human resources in optimal proportions.
Total economic efficiency: Attempts to maximize student learning and organizational policy outcomes while pursuing allocative and technical efficiency simultaneously.
