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Financial Management of the Romanian Preuniversitary Education Institutions

Author

Listed:
  • Irina Maria ALEXANDRU

    (University of Craiova)

  • Gheorghe MATEI

    (University of Craiova)

Abstract

In this article we present the problem of the financial management of the preuniversitary education institutions in Romania in the context of the microeconomic approach of schools, describing the economical metaphor - school as an enterprise with the basic elements of the microeconomic theory. If we speak strictly of educational institutions, it is compulsory to consider the relationship established between the concepts of "ideal education – educational goal -educational objectives", taking into account different levels of generality. The aim to obtain better solutions for the financial management of the pre-university school institutions by describing the basic concepts in the field, its dynamic components as well as the structural-systemic ones, of the practices used at this level. The article follows the conceptual, perspective aspects of managing the financially difficult situations which the school organizations are confronted with. We also called into question the educational policies that exist not only at national level, as well as the actions and practices of developing and implementing educational policies which can be lowered to local public administration or school management. Even if prior expertise is essential in using concepts and rules of inference, this "art" can become routine if an effort is made to linearize, standardize analysis processes, problem-solving, and decision-making.

Suggested Citation

  • Irina Maria ALEXANDRU & Gheorghe MATEI, 2019. "Financial Management of the Romanian Preuniversitary Education Institutions," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(21), pages 63-78, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2019:i:21:p:63-78
    as

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    References listed on IDEAS

    as
    1. Eric Hanushek & Ludger Woessmann, 2012. "Do better schools lead to more growth? Cognitive skills, economic outcomes, and causation," Journal of Economic Growth, Springer, vol. 17(4), pages 267-321, December.
    2. Murray, Sheila E & Evans, William N & Schwab, Robert M, 1998. "Education-Finance Reform and the Distribution of Education Resources," American Economic Review, American Economic Association, vol. 88(4), pages 789-812, September.
    3. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    4. Theodore W. Schultz, 1967. "The Rate of Return in Allocating Investment Resources to Education," Journal of Human Resources, University of Wisconsin Press, vol. 2(3), pages 293-309.
    5. Markowitz, Harry M, 1991. "Foundations of Portfolio Theory," Journal of Finance, American Finance Association, vol. 46(2), pages 469-477, June.
    6. Bruce W. Wilkinson, 1986. "Elementary and Secondary Education Policy in Canada: A Survey," Canadian Public Policy, University of Toronto Press, vol. 12(4), pages 535-572, December.
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    More about this item

    Keywords

    financial management; public institution; budget; budget system.;
    All these keywords.

    JEL classification:

    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare
    • I00 - Health, Education, and Welfare - - General - - - General
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid

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