Impacts of human capital, with a focus on education and the economy in Belarus

Bc. Yuliya Niziulka

Master's thesis

Abstract:

This thesis investigates the relationship between education, human capital development, and economic performance, focusing on Belarus as a case study. The study begins with a comprehensive literature review, exploring the theoretical framework of human capital theory and its implications for higher education. It examines the connection between education and human capital development, emphasizing the impact of different levels of education, including primary, secondary, and tertiary education, on the economy and employment. Additionally, the literature review explores the concept of the knowledge economy and its relationship with economic performance. The practical part of the thesis involves analysing selected data sets related to GDP per capita, unemployment rates, internet usage, literacy rates, educational indices, and educational expenditures as a percentage of GDP in Belarus from 2005 to 2022. The approach to modelling involves verifying the chosen model, assessing autocorrelation, multicollinearity, and the normality of residuals. Furthermore, a SWOT analysis is conducted to identify the strengths, weaknesses, opportunities, and threats associated with education and human capital development in Belarus. Overall, this thesis aims to contribute to the understanding of the role of education in human capital development and its implications for economic performance, with practical insights derived from the analysis of data specific to Belarus.

Keywords

Human capital, employment, education, economic gro, economic growth

Language used: English

Date on which the thesis was submitted / produced: 4. 4. 2024

Thesis defence

• Supervisor: doc. Ing. Vladimír Krepl, CSc.
• Reader: Jitka Malaťáková, Ing.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme:
World Economy