CHAPTER TWO THEORY OF HUMAN CAPITAL 2 a i). Analyze the evolution of thought on economics of education. Evolution of thought on economics of education Thinkers from time immemorial to the present day have shown concern with the economic role education plays in society. The following is a summary of the reviews that have historically … More ECONOMICS OF EDUCATION: What is the evolution of thought on economics of education?
CHAPTER TWO THEORY OF HUMAN CAPITAL 2 a ii). Give an explanation for the contemporary economists’ point of view on education as an investment CONTEMPORARY ECONOMISTS ON EDUCATION AS AN INVESTMENT HUMAN CAPITAL THEORY Human capital refers to a term which was popularized by Gary Becker, who was an economist at the University of Chicago and … More ECONOMICS OF EDUCATION: What are the contemporary Economists’ point of view on education as an investment?
CHAPTER TWO THEORY OF HUMAN CAPITAL 2a iii). Give an examination on the measurement of education’s costs and benefits Measurement of Education’s Costs and Benefits i). Education Costs Costs incurred on education fall into two broad categories: Private and Social costs. a). Private Costs. Private costs are those incurred by the individual, family or … More ECONOMICS OF EDUCATION: What are costs and benefits of Education?
CHAPTER TWO THEORY OF HUMAN CAPITAL 2a iv). State the benefits of age earning profiles. MEASURING BENEFITS OF AGE EARNINGS PROFILES Age-earnings profiles are statistics obtained and classified according to age (experiences) and education. This is because earnings depend upon a person’s age, educational qualification, and experiences. Data is collected on the earnings of a … More ECONOMICS OF EDUCATION: Are there any benefits of age earning profiles?