International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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THE IMPACT OF EDUCATION ON ECONOMIC GROWTH

    1 Author(s):  DR. SANJEEV KAUSHIK

Vol -  6, Issue- 3 ,         Page(s) : 226 - 230  (2015 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

Economics offers a variety of theories and models relating education to economic growth. Education increases an individual’s earning potential. There are various debates over whether changes in educational attainment do affect the long-run growth rate of an economy. The macroeconomic evidence on level effect is consistent with microeconomic estimates of private rates of return to schooling, it appears, however, that there are also significant long-term growth effects that is the more educated is the workforce, the better it is able to implement technological advances. Many growth models include education and offer predictions as to the implications of education policy changes on macroeconomic performance.

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