The impact of education on economic growth in selected countries

Suada Mammadova

Master's thesis

Abstract:

The purpose of this diploma thesis is to measure the effect of education on economic growth and development. Economists argue that educational background of the country can dictate the development of economic growth and an overall development of human capital. Education, for the most part is perceived as investment to both, individuals, and societal level. Many analysts argue that the benefits of education on the individual level and micro level, are numerous. Education, in general, helps an individual to be a more productive member of a society, thus, theoretically, should lead to a bigger growth of personal income. However, within this thesis, the author is focused on identifying the impact of education of economic growth. The development of any state is highly dependent of human capital, hance human capital and its main aspects is the primary goal to analyze. The author applies a Multiple Linear Regression Model to see the direct effect of educational aspects on GDP growth. Within the theoretical part, the author describes the educational systems which are applied by both states. The conclusion part demonstrates the results and indicators that have been researched and analyzed. The author summarizes the impacts of particular indicators on the GDP per capita for both states with the help of secondary data.

Keywords

Human Capital Index, GDP per capita, Knowledge, Years of schooling, variable

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 3. 4. 2023

Obhajoba závěrečné práce

• Obhajoba proběhla 6. 2. 2024
• Vedúci: Ing. Jiří Čermák, Ph.D.
• Oponent: Jiří Kchimel, externi

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme:
Economics and Management