This report presents a cost-effectiveness model for preservice and inservice teacher training in Australia, using a microteaching technique, relating educational (student-centered) factors and cost (management-centered) factors. The report is divided into four parts: (a) a literature survey and the experimental study; (b) attachments to Part A; (c) a selected bibliography on microteaching; and (d) additional supporting material. Part A, Section 1, is devoted to the development of an experimental microteaching model, and presents an investigation of microteaching and a literature survey as background for the present research; planning, development, and implementation of an experimental program; design and data analysis of the program; a study of transfer effects from training to classroom practice; development of a cost model and discussion of general cost estimates obtained from the model; a consideration of the microteaching role in inservice programs; and a summary of findings. Part A, Section Two, presents an instrument for the measurement of skill attainment and details of a costing model and its use in costing a microteaching program. Part B, Attachments, presents (1) handouts to student teachers describing the microteaching program, (2) a description of the Monash (Victoria) self-instructional, inservice training program in technical teaching skills; (3) the transcripts of three inservice tape-recordings on low-order questions, high-order questions, and use of identification probing and redirection questions. Part C of the report presents an annotated bibliography of microteaching, including seven bibliographies, nine reviews, 451 general references, and 86 annotations. Part D, Additional Supporting Material, presents (1) a survey on the use of microteaching in teacher training institutions within the Greater Melbourne Area, and a report on a seminar on the development and implementation of microteaching at Melbourne University. (MJB)