Researchers want to know how to get more bang for our buck when it comes to tertiary education.

A new study is focusing on what tertiary students should actually be learning. The Productivity Commission is currently inviting feedback on the topic, after being asked by the Government to investigate.

Chair Murray Sherwin said they're already getting feedback from employers - and what they want is students who have interpersonal skills and other capacities to learn.

"But those are much more difficult for an education system to certify," Mr Sherwin said.

Mr Sherwin said there's a disconnect right now between what's invested, and what we get back.

He said the money's steadily gone up over the last couple of decades, with the Government currently spending about four billion a year, "but we're not really seeing that in terms of wider economic performance."