Abstract
For the past few decades, extensive research has been performed on the factors that determine economic growth. Theories vary in terms of classification, underlying concepts, and methodology of assessing those factors. However, all of them suggest that quality of education plays a key role in sustaining long-term economic progress. Тhis article focuses on the importance of measuring the education quality. It outlines certain indicators and methods of assessing student achievements which at the same time could serve as a measure of quality of education. It also examines the effectiveness of these parameters to provide a full and objective quality assessment of a country’s education system. A review upon benchmarking of basic quality indicators of EU countries has been provided as well. The article sets apart the quality of the Bulgarian educational system and proposes measures for its effectiveness.
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