№ 2014/4

The article deals with the dynamics of development of education and the dynamics of the structure of budget expenditures by educational sectors in Ukraine. The author makes a comparison between Ukraine and other countries by the index of education, level of public spending on education and the level of economic development. There is an economic-mathematical evaluation of the impact of the share of Ukraine's GDP allocated on education through the consolidated budget, on real GDP rate, human development index and dynamics of innovation in Ukraine's economy.

Keywords:knowledge based economy, budget expenditures on education, human development, economic dynamics, economic-mathematical studies