This document discusses the benefits of educational investment in three areas: earnings, employment, and non-market private effects. It notes that education increases earnings potential through greater productivity and experience. Higher levels of education are also associated with greater employment stability, upward mobility, and labor force participation. Additionally, education provides non-financial benefits like better health outcomes and quality of life.
The constitutional provision of educationAbu Bashar
The Constitution of the country was adopted on Nov. 26, 1949 and came into force on Jan 26, 1950. The Preamble of the Constitution outlines the social philosophy which should govern all our institutions including educational. Right to Education is one of the fundamental rights enshrined in the Constitution of India. The Constitution of India gives a few directions and suggestions for the development of education in the countries which are also called constitutional provisions.
Economics of Education is the concept that lead us why do we go for education and what do we achieve from it. Please, take it only for your exploring your mind, keep in mind that your mental process can make better than this.
PROBLEMS, ISSUES and TRENDS IN SECONDARY EDUCATION OF PAKISTANR.A Duhdra
The secondary education is the most defectives stage in our entire educational organization and it needs urgently a thorough examination and complete reorientation . Defect cannot be overlooked that during the period of secondary education the young boys and girls of the country are exploited by individuals and groups and their energies, instead of being utilized into worthy social purposes, are harnessed to destructive activities.
Education for All in India: Financing India's Elementary EducationJonathon Flegg
India's Sarva Shiksha Abhiyan (Education for All) Scheme is the biggest education financing programme of its kind in the world. This presentation addresses the major problems currently facing the financing of the system's, and proposes a new "grand bargain" to make the system work better for all Indians.
Paper presentation made by Maddali Laxmi Swetha, MBA (HR)
Maddali Swetha Blog - http://maddaliswetha.blogspot.com/ https://in.linkedin.com/in/maddali-swetha-a0a424a6
https://twitter.com/maddali_swetha
E-Mail ID: maddali_swetha@yahoo.com
Thank You
Comparison of Teacher Education in Pakistan with Other Developed Countries Syed Ali Roshan
This presentation was created to compare the level of teacher education in Pakistan with other developed countries such as Finland, France, Italy and Norway. This analysis helps identify the shortcomings in the Pakistani Education system and how comparative education help bridge that gap.
How do we measure the economic impact of a better educated and trained U.S. workforce? The McGraw-Hill Research Foundation’s new position paper argues that adult education and career training is potentially one of the most cost-effective tools the U.S. has to recover its economic health in the aftermath of the “Great Recession.”
The paper was written by sector experts Dr. Lennox McLendon, Executive Director, National Council of State Directors of Adult Education and National Adult Education Professional Development Consortium; Debra Jones, California Director of Adult Education and Chair, NAEPDC Research Workgroup, and Mitch Rosin, Editorial Director, McGraw-Hill School Education Group.
In the policy paper, “The Return on Investment (ROI) From Adult Education and Training,” the authors contend that billions of dollars could be earned, saved and pumped back into the struggling economy as a result of investments in effective and efficient workforce development programs.
Education and Economic Growth in Uganda: A cointegration approachPremier Publishers
This study examines the impact of the quantity of education on economic growth using gross enrolment ratio of primary, secondary and tertiary education as a proxy for the quantity of education. The annual data over the period 1985 to 2017 was used. Unit root tests, cointegration and causality tests were conducted following the Johansen and Juselius cointegration approach. The results indicate that the higher the education level attained the more likely the contribution to Uganda’s economic growth. The study variables were found to be integrated of order one using the ADF test for unit root. The long run causality test detected the existence of long run causality at all levels of education with GDP. The paper contributes to the ongoing debate as to whether education contributes to economic growth, and if it does which level is likely to contribute more to a country’s growth and under what conditions. The paper recommends the need for policy makers to provide an enriched curriculum that trains learners to be creative and productive right from primary education. The government is urged to increase the budget allocation to education as a percentage of GDP to at least 5.4% to ensure acquisition of the necessary education infrastructure to promote quality education.
The constitutional provision of educationAbu Bashar
The Constitution of the country was adopted on Nov. 26, 1949 and came into force on Jan 26, 1950. The Preamble of the Constitution outlines the social philosophy which should govern all our institutions including educational. Right to Education is one of the fundamental rights enshrined in the Constitution of India. The Constitution of India gives a few directions and suggestions for the development of education in the countries which are also called constitutional provisions.
Economics of Education is the concept that lead us why do we go for education and what do we achieve from it. Please, take it only for your exploring your mind, keep in mind that your mental process can make better than this.
PROBLEMS, ISSUES and TRENDS IN SECONDARY EDUCATION OF PAKISTANR.A Duhdra
The secondary education is the most defectives stage in our entire educational organization and it needs urgently a thorough examination and complete reorientation . Defect cannot be overlooked that during the period of secondary education the young boys and girls of the country are exploited by individuals and groups and their energies, instead of being utilized into worthy social purposes, are harnessed to destructive activities.
Education for All in India: Financing India's Elementary EducationJonathon Flegg
India's Sarva Shiksha Abhiyan (Education for All) Scheme is the biggest education financing programme of its kind in the world. This presentation addresses the major problems currently facing the financing of the system's, and proposes a new "grand bargain" to make the system work better for all Indians.
Paper presentation made by Maddali Laxmi Swetha, MBA (HR)
Maddali Swetha Blog - http://maddaliswetha.blogspot.com/ https://in.linkedin.com/in/maddali-swetha-a0a424a6
https://twitter.com/maddali_swetha
E-Mail ID: maddali_swetha@yahoo.com
Thank You
Comparison of Teacher Education in Pakistan with Other Developed Countries Syed Ali Roshan
This presentation was created to compare the level of teacher education in Pakistan with other developed countries such as Finland, France, Italy and Norway. This analysis helps identify the shortcomings in the Pakistani Education system and how comparative education help bridge that gap.
How do we measure the economic impact of a better educated and trained U.S. workforce? The McGraw-Hill Research Foundation’s new position paper argues that adult education and career training is potentially one of the most cost-effective tools the U.S. has to recover its economic health in the aftermath of the “Great Recession.”
The paper was written by sector experts Dr. Lennox McLendon, Executive Director, National Council of State Directors of Adult Education and National Adult Education Professional Development Consortium; Debra Jones, California Director of Adult Education and Chair, NAEPDC Research Workgroup, and Mitch Rosin, Editorial Director, McGraw-Hill School Education Group.
In the policy paper, “The Return on Investment (ROI) From Adult Education and Training,” the authors contend that billions of dollars could be earned, saved and pumped back into the struggling economy as a result of investments in effective and efficient workforce development programs.
Education and Economic Growth in Uganda: A cointegration approachPremier Publishers
This study examines the impact of the quantity of education on economic growth using gross enrolment ratio of primary, secondary and tertiary education as a proxy for the quantity of education. The annual data over the period 1985 to 2017 was used. Unit root tests, cointegration and causality tests were conducted following the Johansen and Juselius cointegration approach. The results indicate that the higher the education level attained the more likely the contribution to Uganda’s economic growth. The study variables were found to be integrated of order one using the ADF test for unit root. The long run causality test detected the existence of long run causality at all levels of education with GDP. The paper contributes to the ongoing debate as to whether education contributes to economic growth, and if it does which level is likely to contribute more to a country’s growth and under what conditions. The paper recommends the need for policy makers to provide an enriched curriculum that trains learners to be creative and productive right from primary education. The government is urged to increase the budget allocation to education as a percentage of GDP to at least 5.4% to ensure acquisition of the necessary education infrastructure to promote quality education.
This paper studies the determinants of personal income including the returns to education. In the process this paper estimates how incomes are affected by characteristics such as gender, caste, language etc. Using a maximum likelihood probability model, private returns to education are estimated using data from a Ministry of Finance Survey on Incomes and Savings conducted in 2004-05. We find that greater levels of education increase both the likelihood of being employed as well as the income earned from work. However, the returns from elementary (primary and middle) education are quite low. We also find that ceteris paribus women, lower social groups, rural residents, non-English speakers have both significantly lower incomes and significantly lower likelihood of being employed. Our results indicate that education should be geared towards ensuring flexibility in the students’ occupational choices.
Conclusion
Using a recently made available data on incomes we analyze how a range of household, individual and educational factors affects incomes. We find that the data for India show similar patterns as found for other countries, however the quantum differs. The key results are as follows:
Non-education characteristics
Individuals from SC and ST households are likely to have about 10 percent lower incomes than those from non-SC/ST households everything else remaining the same.
Women’s incomes are likely to be about a third lower than males having the same household and educational characteristics. They are also much more likely to be unemployed than males.
Those who are currently married are likely to have higher incomes and higher likelihood of being employed. Other results also indicate an interesting association between the marriage and labour markets.
Knowledge of the English language has a significant impact on incomes. Incomes of those who have knowledge of the language are between 18 to 22 percent higher depending upon whether they can merely understand or converse in it.
We also find that occupation effects are highly significant and explain a significant part of the income variations.
Education characteristics
Compared to illiterates those who have completed primary have 50% greater incomes, those who have completed middle school have incomes greater by 75%, those who have completed schooling have incomes greater by 172%, graduates by 278% and professional courses by 356%
After correcting for household and individual characteristics and state effects, compared to illiterates those who have completed primary have 31% greater incomes, those who have completed middle school by 45%, those who have completed schooling by 89%, graduates by 136% and professionals by 171%
After also including fixed occupation effects, compared to illiterates those who have completed primary have incomes greater by 15%, those who have completed middle school by 21%, those who have completed schooling by 42%, graduates by 69% and professional courses by 97%.
In other words, we find that the returns to greater education increase significantly as the level of education increases. This would be fine if the returns at the lowest level were high. However that is not the case and may be an important reason behind the high drop out rate. We also find evidence that there are significant rigidities in the labour market in the sense that household and occupational factors explain much of the variance in incomes. With greater education one may be able to break these rigidities, however, that requires children to remain in school.
For educational policy the message is quite clear: Quality of delivery, and content that enables flexibility in later occupational choice. This will ensure that rational children can expect to gain from the benefits of formal education, and therefore also remain in school longer.
Family matters: The economics of the family and human capital in the United ...IPPR
What has happened to US families in terms of income and hours of paid employment?
What we know from the literature about how these trends affect human capital for development of human capital?
What do this all mean for policymakers?
By Heather Boushey, of the Center for American Progress (Washington DC) and IPPR (London).
Running head INCOME INEQUALITY1INCOME INEQUALITY6A.docxcowinhelen
Running head: INCOME INEQUALITY 1
INCOME INEQUALITY 6
ADDRESSING INCOME INEQUALITY
(Author’s Name)
(Institutional Affiliation)
Addressing Income Inequality
For decades now, the wealth gap among United States citizens has increasingly become high. This has contributed to various social and economic problems such as inadequate employment, poverty, crime, and health issues (Dabla-Norris et al., 2015). Because of the wide array of challenges attributed to Income Inequality there is need for the society to come up with some solutions to address this issue. Even though there are many ways through which the society can narrow down this wealth gap, the policies chosen need to follow a multifaceted approach in order to come up with a permanent solution. Below are some of the policy alternatives that can be used to address the issue.Providing affordable, and quality education to the citizens
According to Breen & Chung (2015), education is one of the major factors that accounts for income inequality among the people. The people who are well educated are more likely to earn better incomes than the people who are not educated. This is due to the fact that educated people have some skills which they can use to acquire full time employment with good salaries. Because of this reason education is arguably one of the best tools that can be used to eradicate income inequality in United States.
Lack of education among some citizen in the United States is closely attributed to poverty. Statistics show that more than 1 out of every 5 children are living in poverty (Childfund, 2013). This means that a similar number of children don’t get good education because their parents can afford. Even if they access education it will likely be the basic primary and secondary education and they will never have the opportunity to get post-secondary education. Since most of the good jobs currently demand at least one to have post-secondary education it is important that we invest in providing access to affordable and quality education and encourage young people to go school.
To provide affordable, and quality education the government should:
· Build enough schools in all parts of the country that can accommodate everyone who needs education.
· Ensure that the schools have enough resources needed to provide quality education. This include qualified teachers and learning materials
· Subsidize the cost of education to ensure that the citizens can afford
· Provide scholarships to low-income students to help them access higher education in-order to acquire the skills needed to secure jobs in the competitive market.
Issues facing education in United States
One of the greatest issue currently facing education in the us is the criticism of public schools. This has consequently led to decrease of funding of the schools. As these are the schools which most of the low-class people can afford, most of the students end up not getting quality education because the schoo ...
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
1. Educational Investment
The concept of human capital introduced by Nobel Laureate Theodore W. Schultz
in 1961 and elaborated upon by Nobel Laureate Gary Becker in 1964 implies that
individuals acquire skills and knowledge to increase their values in the labour market. It is
however, observed that there are three main mechanisms for acquisition of human
capital.
These three mechanisms include:
1. Experience
2. Training
3. Education
Out of these three, education has been identified as the primary source for most individuals. The
amount of education acquired by workers has impact on labour market experience. The most
direct way that education affects the labour market experience of workers is through
increased productivity, thus increasing their earnings. The more education individuals
acquire, the better they are able to absorb new information, acquire new skills and
familiarise themselves with new technologies (Bartel and Lichtenberg, 1991). By
increasing their human capital, workers enhance the productivity of their labour and of the
other capital they use at work.
1 Earnings
Hall (2009) observed that research evidence on private returns to education from
1979 to 1993 presented by Ashenfelter and Rouse indicates that, a tremendous
increase in the value of schooling has occurred since 1979. They found that the return to
an additional year of education rose from 6.2 percent in 1979 to nearly 10 levels
of human capital seems to be increasing, tending to increase the future financial
returns to education.
The benefits of education as reported in the Inter African Development Bank’s Facing up to
Inequality in Latin America (1999) are substantial.
In Latin America as a whole, a worker with 6 years education earns
50% more than someone who has not attended school. This gap increases up to
120% for those in 12 years education (i.e., completing secondary school), and exceeds
200% for those with 17 years education (i.e., completing a university diploma). Although
2. these effects are private, they are also public benefits as a better-trained work
force contributes to rising tax stream, better health care, improved institutional
capital and so forth. Higher education in particular has the ability to create a pool of highly
trained individuals that become a key national resource.
If higher levels of productivity reflect higher levels of human capital, which are
primarily a result of increased education, then a positive relationship should exist
between educational attainment and earnings.
Figure 1 illustrates the outcome of the study conducted by the US Census
Bureau in its Current Population Reports, published in 1998.
The study indicated that in terms of annual median income, the average baccalaureate tends to
earn nearly $20,000 more than the average high school graduate.
This analysis has however, been faulted on the ground that it is incomplete
because it ignores the investment cost of education. This is because individuals provide the
majority of the resources for human capital investment through their own financial
resources and the time spent acquiring additional education. A high school
graduate when considering college will factor in the costs of education as well
as the benefits. The cost of education borne by student consists not only of
tuition and living expenses but also of foregone earnings. Beyond high school, foregone wages
are the largest component of investment in education. Any estimate of return to
schooling must include the investment costs of that schooling.
In another study, Orley and Rouse (1993) estimated the private returns to education from
1979 to 1993 and indicated that, a tremendous increase in the value of schooling has
occurred since 1979. They found that the return to an additional year of education rose from 6.2
percent in 1979 to nearly 10 percent in 1993. Crawford (1991) observed that
although the future is unknown, the demand by firms for high levels of human capital seems
to be increasing, tending to increase the future financial returns to education.
As noted previously, there is an increasing wage premium paid to workers with
high levels of human capital attained through skills, training, and education.
Figure 2 illustrates the increasing earnings disparity between college graduates and their
high school counterparts.
3. Although real earnings have increased for both groups since 1975, the nominal
earnings differential between the two groups has grown. The
Bureau of Labor Statistics (BLS) of the United States of America, using data from the
National Longitudinal Survey of Youth, a survey following 9,964 young men and
women from 1979 until 1996, found evidence of this increasing wage premium.
Real hourly earnings rose for members of all education levels during the period.
BLS research shows that the level of growth in real hourly earnings, however,
depends on educational attainment. Among men aged 28 to 32, those with a high
school education or lower were experiencing 1.1 percent annual growth rates in
wages, compared to 5.4 percent for college graduates in the same age range. Salaries one
year after graduation for 1993 college graduates were 22 percent higher in real
terms than salaries for 1975 graduates one year after graduation.
OECD in 2002 observed that it has been possible to bring together crucial
evidence on the role of human capital, and thus education in fostering economic
well-being for both individuals and societies in World Education Indicators (WEI)
countries. In all WEI countries, labour force participation rates increase with the
level of education attained by individuals. Better qualifications also attract higher
wages for individuals. One noteworthy pattern is that, while earnings increase with each
additional level of education in most countries, attainment of upper secondary and
especially tertiary education constitutes an important earnings threshold in Brazil,
Chile and Paraguay. For men, the earnings advantage of tertiary compared to
upper secondary education ranges from 82 per cent in Indonesia to almost 300 per cent in
Paraguay. Overall, WEI countries in Latin America display the largest difference in
income by level of education, while those in Asia reflect less variation in earnings
relative to education.
2 Employment
Mincer (1993) observed that the amount of education an individual receives not only
affects his earnings, but the quality of his employment as well. He added that educated workers
have three advantages relative to less-educated workers, which are as follows.
1. Higher wages
2. Greater employment stability
4. 3. Greater upward mobility in income.
Increased earnings by workers with higher education levels are a result of two factors.
1. Increased human capital results in higher productivity that allows workers to extract
higher hourly wages.
2. Increased education increases labor force participation, decreases the probability of
unemployment, and decreases job turnover.
However, highly educated workers labour a greater number of hours annually for
higher hourly wages than their less educated labor market competitors. In 1996, the
majority of the population out of the labor force or unemployed resided in the
lower rungs of educational attainment. Possession of a college degree in 1996
increased the probability of being in the labor force by nearly 23 percent over
high school graduates. Labor force participation is strongly associated with education
even after controlling for other factors, such as age and marital status. Since
those with a college education have more to lose by dropping out of the labor
force (due to their higher earnings) than high school graduates do, they are more
likely to remain in the labor force, (Hall, 2000).
The negative relationship between education and unemployment exists due to two
factors: more efficient job searching and increased job- specific human capital
among those with higher levels of education.
Mincer (1993) explains why more educated workers have lower unemployment: "the
more informed the job search, the more likely is a successful job match, hence the longer are
workers likely to stay on the next job." In the same study, Mincer finds that educated workers
engage in higher levels of training specific to the firm, making workers more
valuable to their firms, thereby reducing the probability of involuntary
(i.e., non-employee initiated) job turnover.
Our discussion so far points to the fact that investment in education is beneficial to
an individual in terms of earnings as well as opportunity for employment. Besides
these benefits there are other advantages that cannot be measured in terms of naira
and kobo but are considered highly significant. This will be our focus of
discussion in the next section.
5. 3 Non-Market Private Effects
Evaluations of the returns to schooling often analyse the labour market returns to education.
The compensation for increased human capital formation is not limited to the
earning of money. Education often affects the quality of life in ways rarely
thought about or recognised.
This section discusses the non-market outcomes of education. Hall (2009) observes that
aside from the effect of education on increased earnings (hence, money available to
spend on health care and likelihood of having employer-provided health benefits),
persons with higher levels of education tend to have better health than those with
lower levels. Individuals with high levels of human capital have made an investment
in themselves, an investment that they protect by taking preventive measures to increase the
probability of better health. Annual checkups, mammograms, and regular exercise can
all be viewed as investments in the maintenance of human capital.
OECD (2002) observes that there is now robust evidence that human capital is a
key determinant of economic growth and emerging evidence indicates that it is also
associated with a wide range of non-economic benefits such as better health and
well-being. Wolfe and Zuvekas (1995) compiled a comprehensive review of the
effect of non-market outcomes of education. They found considerable evidence that
as a person increases his level of schooling, he may increase his health status and
this effect could also extend to his loved ones as well.
Evidence presented by Wolfe and Zuvekas point to a positive association between
an individual's level of schooling and the health status of the person's family,
controlling for other factors. Other evidence supports this finding of a positive
association between education and better health. One of the strongest findings was
an empirical study by Grossman (1976) who finds that schooling has a positive
and statistically significant effect on current health, even when controlling for past health.
However, evidence from some countries seems to indicate that private rates of
return are falling over time (Tilak, 1997a, 69). Moreover, the very concept of rate-
of-return analysis in education has been subject to criticism (Leslie 1990; Bennell 1996;
Curtin 1996). One argument is that greater earnings for individuals with higher levels of
education do not reflect the intrinsic value of education, so much that school systems operate
6. as screening devices, in which only the more talented get through to higher
levels. This view does not nullify the value of investments in education, but
casts a different light on the reasons for earnings differentials at different levels of
education. Other criticisms of rate-of-return analysis are that the presentation of exact
numbers gives the illusion of precision.