Reference no: EM132156533

Question: The following questions are based on Human Capital and Human Development in the context of Economic Development of Developing Nations:

Post your brief but concise responses on the following Questions by due date. You may also respond to postings by other fellow class mates as part of your responses.

Make sure you give proper citation and references as part of your discussion/contribution.

1. What is human capital and why is it so crucial to expand human capital as part of the development process in developing countries? Give concrete example(s) of specific countries as part of your answer to substantiate.

2. Explain some of the reasons why developing countries have not realized a greater positive development impact from their higher education programs. In this context, why should the development of a solid elementary education system take precedence over an expansion of the university system in developing countries? Give specific country example that you find in your readings for the relevant materials.

3. Explain how a better-educated population will also tend to be a healthier, and vice versa, that a healthier population will tend to be better educated. In this context, how can an increase in human capital lead to an increase in GDP? Why might it not lead to an increase in GDP? Give a concrete example as part of you explanation to this question.

Classmate's answer:(comment this)

1. Human capital is defined as the standards of skills, level of education, their creativities, and personal attributes carry by the person or population which is observed in terms cost of value for any country or organization (Verkruijsse & Westerman, 2015).

Human capital is used to be considered to be a very major impact for developing counties as it is the source for having a competitive advantage over other countries. To have the human capital at high skill persons or human capital the organization or counties should improve their market of labor and skilled persons so the country has increased their labor power their technology will increase and will impact the country in which they are working. It is difficult for some of the countries for human capital as human capital will cost more to developing counties as they must hire labor from other developed counties for their need. Countries like Afghanistan and Bangladesh are some of the examples of them (Mabogunje, 2015).

2. In developing countries, due to lack of facilities and awareness about their rights, they do not consider the education at secondary as well as a higher level. Developing countries like Pakistan, Bangladesh, Afghanistan and many other countries where higher education is not good. In Afghanistan where the necessities of life are not equally available. Due to lack of awareness about the importance of education they suffered badly in terms of economically. So, they need to develop a powerful base for elementary education for the development of country reputation and economy (Drucker, 2016).

However, there is a need to provide awareness about the solid elementary education to Afghanistan's people so that they appreciate by getting a further higher education and improve the reputation and economy of the country. The investment in elementary education is beneficial in terms of expansion of higher education, educational institutions in Afghanistan.

3. Education is important for the development of the country because it provides awareness about the different scenario and conditions prevailing in the country. Education enables the person to evaluate the difference between the right or wrong ways (Salomon, 2016). Education empowers the individual to take a decision that is beneficial for the country's development. An educated person knows about healthier activities such as services for needy people, provide awareness to other people, and many other activities that enhance the growth of the country.

However, education broad the thoughts of individual and they remain busy with healthier activities such as in education sectors, in the medical center, in business, in IT center and many other sectors that enhance the country's economy and also enhance the knowledge regarding their fields.

Furthermore, the services of educated people in different sectors such as in business by adopting different and new technologies enhance the strong financial base for the country.