Topic > Early childhood education: a wise investment approach...

Title Early childhood education: a wise investment approach for a better future.1. Central messageThere are many benefits to improving the quality of early childhood education services and the trade-off between affordability and quality in these services should not determine the efficiency of this improvement. Even if this latter issue (affordability over quality) becomes a reality and the associated dollar cost could impact household budgets, it is worth explaining the benefits of taking these types of actions. Recommendations to note:1. Investments in early childhood education services improve future economic performance.2. Promote participation and ensure that children from disadvantaged backgrounds benefit from early childhood education (ECE) services.2. Key information The results of the implementation of the National Quality Framework (NQF) cannot be encapsulated in a debate of compromise between quality and accessibility of ECE services. Certainly, implementing an NQF will lead to increased associated costs for educators and, ultimately, families. However, improving the quality of ECE services will provide a range of benefits for society in the future and, as such, cannot be limited to a discussion between quality and accessibility. Early childhood education: a wise policy Theoretical evidence, such as human capital theory, suggests that the implementation of public policies regarding the improvement of ECE systems can bring a number of benefits to society, since adequate education early in life it would provide individuals with adequate skills to develop through life. Cost-benefit: an important factor but not the only determining factor Among the most important issues related to ECE policy...... middle of the document ....... On the other hand, while considering the costs associated with implementation of ECE programs, Aos et al. (2004) and Karoly, Kilburn, and Cannon (2005) provide a clue to the performance of these programs. They examined several evaluations related to the field of early childhood intervention, calculated the benefits and costs of these programs, and generally found that some, but not all, of these programs generate future savings for the government and benefits for society more generally which are at least as important. as large as the costs of the programs. Furthermore, empirical evidence from the US Perry Preschool program shows that when participants were 40 years old the economic return was $244,812 per participant on an initial investment of $15,166. Therefore, these programs have proven to be cost-effective and the policy as a whole has proven to be smart in further developing children's full potential.