The purpose of this study was to analyze the effect of economic fctors on the demand for education. The research questions are as follows. First, do the economic factors affect on the demand for education? Second, is there difference in the effect of economic factors on the demand for education between male and female? Third, what are the size of price and income elasticity of demand for education? General model to be used in this study is as follow: DEMANDt = b1 × (GNIt-1)b2 × (TUITt-1)b3 × (UNEMt-1)b4 DEMAND: demand for higher education GNI: real gross national income TUIT: tuition fees of college and university UNEM: unemployment rate of whole society Major findings were as follows: The signs of coefficients were consistent with those inferred by hypothesis. The main economic factor that affects on the demand for higher education was the real gross national income(GNI). There was difference in the effect of economic factors on the demand for education between male and female. The economic factors that affect on the demand for higher education of male were the real gross national income(GNI) and the tuition fees of college and university(TUIT), while the economic factor that affects on the demand for higher education of male was only the real gross national income(GNI). The income elasticity of demand for education were 0.97(total), 0.86(male), 1.24(female) respectively. The price elasticity of demand for education were -0.39(total), -0.41(male) respectively.