EDUCATION IN ECONOMIC THEORY

This paper aims to show the evolution of the role and importance of education in economic theory, especially in theoretical approaches to economic development after World War II. In order to find answers and to present a current issue - why and how certain countries have made progress while others h...

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Main Authors: Hatidža Jahić, Jasmina Osmanković, Ensar Šehić
Format: Article
Language:English
Published: Faculty of Economics, University of Tuzla 2011-06-01
Series:Economic Review
Subjects:
Online Access:http://www.ef.untz.ba/web/dokumenti/osmankovic,jahic,sehic.pdf
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spelling doaj-c8cbebe1728f4d5a9d2cc84694b3b4bb2021-07-02T01:04:10ZengFaculty of Economics, University of TuzlaEconomic Review1512-89622011-06-01IX16378EDUCATION IN ECONOMIC THEORYHatidža JahićJasmina OsmankovićEnsar ŠehićThis paper aims to show the evolution of the role and importance of education in economic theory, especially in theoretical approaches to economic development after World War II. In order to find answers and to present a current issue - why and how certain countries have made progress while others have regressed in the development process, many theories and models explaining processes of growth and development have emerged and developed. By applying the method of analysis, synthesis and comparison, and based on earlier works, classification of theories of development has been made to analyze the evolution process of the role and importance of education in the development process. Presentation of the classification theory refers to: theories of economic development (the classical theory and contemporary models of development and underdevelopment) and theories of interdependence of education and development (theory of human capital, human development and approach to the returns on investment in education). This paper presents the basic settings, ideas and thoughts of the key authors of these theories and models and the role of education and human capital in these theoretical approaches. Research has shown that the analysis of interdependence of education and economic development has been the subject of interest of researchers for many decades and that today, taking into account the high degree of development of theoretical approaches, there is no full commitment to the classic theories nor there is a unified approach to endogenous growth, but an approach that promotes the elements of both, considering education as the key factor of development of the 21st century.http://www.ef.untz.ba/web/dokumenti/osmankovic,jahic,sehic.pdfeducationdevelopmentcapital
collection DOAJ
language English
format Article
sources DOAJ
author Hatidža Jahić
Jasmina Osmanković
Ensar Šehić
spellingShingle Hatidža Jahić
Jasmina Osmanković
Ensar Šehić
EDUCATION IN ECONOMIC THEORY
Economic Review
education
development
capital
author_facet Hatidža Jahić
Jasmina Osmanković
Ensar Šehić
author_sort Hatidža Jahić
title EDUCATION IN ECONOMIC THEORY
title_short EDUCATION IN ECONOMIC THEORY
title_full EDUCATION IN ECONOMIC THEORY
title_fullStr EDUCATION IN ECONOMIC THEORY
title_full_unstemmed EDUCATION IN ECONOMIC THEORY
title_sort education in economic theory
publisher Faculty of Economics, University of Tuzla
series Economic Review
issn 1512-8962
publishDate 2011-06-01
description This paper aims to show the evolution of the role and importance of education in economic theory, especially in theoretical approaches to economic development after World War II. In order to find answers and to present a current issue - why and how certain countries have made progress while others have regressed in the development process, many theories and models explaining processes of growth and development have emerged and developed. By applying the method of analysis, synthesis and comparison, and based on earlier works, classification of theories of development has been made to analyze the evolution process of the role and importance of education in the development process. Presentation of the classification theory refers to: theories of economic development (the classical theory and contemporary models of development and underdevelopment) and theories of interdependence of education and development (theory of human capital, human development and approach to the returns on investment in education). This paper presents the basic settings, ideas and thoughts of the key authors of these theories and models and the role of education and human capital in these theoretical approaches. Research has shown that the analysis of interdependence of education and economic development has been the subject of interest of researchers for many decades and that today, taking into account the high degree of development of theoretical approaches, there is no full commitment to the classic theories nor there is a unified approach to endogenous growth, but an approach that promotes the elements of both, considering education as the key factor of development of the 21st century.
topic education
development
capital
url http://www.ef.untz.ba/web/dokumenti/osmankovic,jahic,sehic.pdf
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AT jasminaosmankovic educationineconomictheory
AT ensarsehic educationineconomictheory
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