Pregledni rad
THE IMPORTANCE OF EDUCATION IN THE LABOUR MARKET ACCORDING TO THE ECONOMIC THEORY
Marija Bečić
orcid.org/0000-0001-8361-2675
; Sveučilište u Dubrovniku, Odjel za ekonomiju i poslovnu ekonomiju
Sažetak
Education is an important element of any knowledge-based modern economy, so there is an increased interest in researching its economic role. The primary link between education and economy is related to the labour market and income distribution. From the 60s onwards, a dominant link between education and labour market is the neoclassical theory of human capital. It is based on the assumptions of perfect competition, perfect information, and rational decision of an individual. However, many studies have shown the occurrence of market phenomena that is inconsistent with the explanations of this conventional theory, which led to the development of alternative models. Based on their key assumptions, models have different views on the role of education in the labour market and in the determination of wages. The dominant theory of human capital will be presented in this paper, and an insight in specific alternative theories that tackle this issue will be provided.
Ključne riječi
education; theory of human capital; screening hypothesis; theory of job competition; labour market segmentation; radical theory
Hrčak ID:
123489
URI
Datum izdavanja:
26.6.2014.
Posjeta: 2.477 *