Human capital and modelling of its development

J. Tvrdoň
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J. Tvrdoň: Czech University of Agriculture, Prague, Czech Republic

Agricultural Economics, 2006, vol. 52, issue 3, 117-122

Abstract: The paper deals with the relation between education, as pivotal characteristics of capital, and efficiency of school work-places with use of production modelling. A starting analytic tool is a determination of school facilities efficiency according to an efficiency matrix from which it results that also schools with a lower volume of resources per a student can significantly contribute to human capital development. Transformation of these sources into knowledge is expressed by a production function of education in which results of students are an endogenous variable in dependence on school resources, qualification level of students' families, school-mates' level, previous results of students and their effort. The course of the production function and its shape depends on many factors and economy of scale determined in the paper.

Keywords: education economy; human capital; modelling; production function in education (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnlage:v:52:y:2006:i:3:id:5003-agricecon

DOI: 10.17221/5003-AGRICECON

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