The purpose of this article is to show how to evaluate the various economic impacts\ngenerated by the establishment and operation of high educational institutes (HEIs) on a local\neconomy and how HEIs affect the national economy, particularly that of Greece. The\nmethodological framework used in this paper is the Satellite Account for Education (SAE)\nwhich has not been yet developed in Greece and therefore consists of a proposed\nmethodological framework based on international human accounting rules and principles.\nThe empirical application concerns the effect of the Technological Educational Institute (TEI)\nof Epirus on the local economy of the Preveza prefecture through measuring the effect on\nconsumption, GDP, local income, value added tax, and employment. The outcomes of the\nresearch are important to the government and education policymakers, especially since\nGreece faces enormous public finance problems and problems with the transformation of the\ntertiary education system.
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