This article estimates private and social returns to investment in education in Azerbaijan, using the 2015 Azerbaijan Monitoring Survey for Social Welfare. The private rate of return to education is 6 percent
this is the first estimate of returns to schooling in Azerbaijan since 1995. The returns to schooling are 6 percent for men and 8 percent for women, even controlling for selection. In addition, the article estimates the returns for higher education
for this level, the rate of return is 9 percent. Finally, using the full discount method, the private rate of return for tertiary education is 9 percent, and the social rate of return is 8 percent. One policy implication is to reexamine the funding of higher education and its expansion.