The arm of this study is to elucidate the gualitative increase in the national investment on education and, furthermore, to analyze the priority order based on the importance of the national education policy from 1979 to 1987. The importance thereof is described with a coefficient of elasticity in the following formula ; e ＝ △Q/Q ／ △P/P ＝ △Q/△P ㆍ P/Q where ; e ＝ coefficient of elasticity Q ＝ amount of educational finance P ＝ national income And the coefficient of elasticity can be interpreted as follows ; e＞1 : elastic e＜1 : non-elastic e＝1 : unit-elastic e＝0 : perfectly non-elastic e=∞ : perfectly elastic The importance of education, as a result, is analyzed as follows in terms of three parts ; 1. An analysis on the importance of education under the naticnal dimensions. 2. An analysis on the proportion of the education budget to the government budget. 3. Analysis on the policy weight of the educational works among the budget ot the education Ministry. The results of the above analyses are as follows ; 1. As we consider the importance of education under the national dimensions, the budget of the Education Ministry becomes more elastic according as the national richness increases and education policy becomes thought much of. Whereas the budget of the Education Ministry among the government budgets becomes non-elastic. 2. Whell we evaluate the importance of education among the national policies, the elasticity of the Education Ministry budget is than that of the general administration expenditure and that of the defense expenditure as the result of comparing with that of social developments and that of others. However, if we consider the budget of health, social security and welfare, housing, community development, and other economic business, the elasticity of the Education Ministry budget is non-elastic and education is recognized as being thought little of among the social development and welfare areas. 3. As the result of the analysis on the importance of education among the education Ministry policies, we recogruze that the elasticity of the administration expenditure is the highest among the budgets of the Education Ministry. And that of the health expenditure is the second wighest, but that of the compulsory education expenditure is non-elastic. In conclusion, the size of investment on education has been increased only in shape, but the budget increase has not corresponded with the government budget increase. And the educational business has been neglected in comparison with other social development areas. moreover, although the budget of the education Ministry has increased, the increased educational expenditure was not invested to the qualitative bettermnet of education, but was put into other educational areas. Therefore, the budget. of the Education Ministry should be invested and operated effectively in the necessary and indispensible areas of education.