EFFICACY OF ALLOCATING FUNDS TO ESSENTIAL EDUCATIONAL INITIATIVES

Ekaterine Shainidze E-mail: [email protected] Associate Professor, Batumi Shota Rustaveli State University Batumi, Georgia https://orcid.org/0000-0002-3612-1790 Iamze Surmanidze E-mail: [email protected] Assistant- Professor, Batumi Shota Rustaveli State University Batumi, Georgia https://orcid.org/0000-0002-4389-9250 Tamila Turmanidze E-mail: [email protected] Assistant- Professor, Batumi Shota Rustaveli State University Batumi, Georgia https://orcid.org/0000-0003-4710-2285 Tamari Poladashvili E-mail:[email protected] Assistant- Professor, Batumi Shota Rustaveli State University Batumi, Georgia https://orcid.org/0000-0002-7597-7997 Tariel Giorgadze E-mail: [email protected] Assistant Professor, Batumi Shota Rustaveli State University Batumi, Georgia Abstract: Most countries of the world, funding of higher education and scientific research is a priority direction of the state. Particularly important is the policy of developing countries in relation to higher education. In this regard, there is an interesting picture in Georgia, since there are priority fields that allow students to receive education for free. The purpose of our research is to evaluate the effectiveness of funding priority educational programs. Within the scope of this research, on the example of Batumi Shota Rustaveli State University of Batumi, it is determined what effect the full financing of various educational programs had on the demand of entrants, what is the compatibility of the education and labor market requirements of the mentioned programs, what prospects these specialties have in terms of both employment and creating a successful career. It is important, that in order to ensure the compliance of priority educational programs with the needs and challenges of the country, it is necessary to revise the approaches annually in accordance with clear criteria selected in advance (the number of enrolled and graduated students, the number of employees according to the specialty, the compliance of their qualifications with the requirements of the labor market and the country's challenges, etc.); Higher educational institutions, while implementing educational programs corresponding to priority directions, should take into account the requirements of the labor market as the basis of relevant studies. In addition, the annual admission quota should be determined not mechanically, but on the basis of experience and perspective assessment; Keywords: Education, Priority programs, labor market JEL classification: I22, H52