Abstract
Human capital is a crucial element for industrialization. The post-industrial world relies heavily on knowledge as a vital part of economic growth. The supply of highly skilled workers trained through higher education is of increasing importance to the development of a nation’s economy. A university education not only provides significant economic and non-monetary private benefits to students, it contributes substantial social and public benefits to society and future generations. However, critics argue that as decades of increasing access to higher education have not resulted in higher economic gains, the benefit of higher education could be in “signalling”. Therefore, the critical question is whether the increasing social costs of higher education have produced a corresponding increase in social benefits. There is an ongoing debate among educational economists between the “signalling” effects versus the “developmental” effects of university education.
Keywords: Cultural Competence, International Diversity, Unified Growth Theories, Wage Premium.
Related Books
Capitalist Realism in Africa: Realities and Myths in Advertising
Digital Currency: An International Legal and Regulatory Compliance Guide
Firms` Strategic Decisions: Theoretical and Empirical Findings
Firms` Strategic Decisions: Theoretical and Empirical Findings
Firms` Strategic Decisions: Theoretical and Empirical Findings
Intellectual Property Basic Manual for Researchers in Universities
.jpg)
Internet Economics: Models, Mechanisms and Management
Learning Why and How: A Reader in Managing Nonprofit and Voluntary Organizations
Markets, Business and Sustainability
Organizational Management: Case Studies for Graduate Students