The Structure and Funding of the School System By Stephen King and Malcolm Anderson 1 with Brian Caldwell 2 and Peter Dawkins 3 The Melbourne Institute of Applied Economic and Social Research The University of Melbourne Parkville, Vic. Australia 4 1 Malcolm Anderson is a Research Fellow with the Health Economics Unit at Monash University 2 Brian Caldwell is a Professorial Fellow with the Department of Education Policy and management at the University of Melbourne 3 The authors are grateful for comments and suggestions made by David Johnson and Joshua Gans 4 The Melbourne Institute is grateful to the Victorian Department of Treasury and Finance for funding the research for this paper.