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Education is becoming the most important tool in societies, taking into consideration that it is positive externality that benefits the all individuals in a society. Nowadays the debate is focused towards the ways how to improve quality of teaching in higher education market. There are tendencies in Macedonia to change the law for higher education and new reforms proposed by the state are unexpected from the whole citizens. These reforms seem to be unrealistic in actually economic conditions. Macedonia as a transition country do not have capacity to cover the cost of this reforms but this politic will finish with a political and economical chaotic results. In this research paper is considered the law and its impact on economic growth and social well being. Transition countries cannot compete in higher global education market with these kind of reforms it cannot be achieved. This scientific research will have a concrete approach and analysis of the law in question by exploring the expectations and priorities of law and side effects. First of all, there will be taken into account, expectations in terms of economic and role of institutions in decision-making process in this regard. Key elements that will have a base during the research are: Reforms in education and the impact on the economic sphere and effects of the law in this case, taking into consideration the arguments given by the state and adoption of the law and policy role of the actors in this case. We conclude that to gain the global higher education market first of all it is necessary sustainable economic development. This and a number of other elements will be key issues which will be taken into account during the study. Keywords: reform, education, law, economics, politics, government, policy

Political and Economical Effects of Higher Education Reforms- Case of Macedonia (Critical Overview about the Law on Higher Education in Macedonia)