Mykhats S. Role of education as a factor of economic growth under transition period

Economic growth and its factors (education). Defining the role of education as an economic growth factor. Dialectic method (principle of contradiction, historical method, system and structural approach). The new definition of economic growth from the point of view of political economy taking into account the material component (in relation to productive forces) and social structure (characterized in respect of social and economic relations) has been given. The definition is viewed as a constant process of the growth of additional value volume per person employed, capitalization of profits and expanding the range of capitalist property on the basis of quantitative growth and qualitative improvement of factors of production (first of all of the main productive force), that results in the volumes of GDP increase as well as in improvement of its structure. The main ways of improving education as an economic growth factor have been grounded. The recommendations as to primary and secondary education development strategy have been given. Educational authorities, educational institutions.