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Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. [1] Human capital has a substantial impact on individual earnings. [2]
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for ...
Educational capital refers to educational goods that are converted into commodities to be bought, sold, withheld, traded, consumed, and profited from in the educational system. Educational capital can be utilized to produce or reproduce inequality, and it can also serve as a leveling mechanism that fosters social justice and equal opportunity.
Investment in Human Capital: The Role of Education and of Research, New York: Free Press. 1972. Human Resources (Human Capital: Policy Issues and Research Opportunities), New York: National Bureau of Economic Research, 1981. Investing in People, University of California Press. Description and chapter-preview links. 1993.
Education's primary role is to convey basic knowledge and skills to future generations. [18] Although this aim is stated in the formal curriculum, [ 19 ] it is mainly achieved through the hidden curriculum , [ 20 ] a subtler, but nonetheless powerful, indoctrination of the norms and values of the wider society.
The foundation of the drive to increase educational attainment across the board is the human capital model of education, which began with the research of Gary Becker. [2] The model suggests that increasing educational attainment causes increased prosperity by endowing students with increased skills.
Vocational education is education ... A related role is continuing professional development. ... Increased recognition of the importance of human capital for economic ...
The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions.Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations ...