ECON 313 Chapter Notes - Chapter 8: Conditional Cash Transfer, Mertens-Stable Equilibrium, Progressive Alliance Of Socialists And Democrats
3 May 2016
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Chapter 8 human capital: education & health in economic development. 8. 1 the central roles of education & health. Education & health are basic objectives of d"vt: health central to well-being & prerequisite for increase in productivity, education in ability to absorb modren tech & develop capacity for self-sustaining growth & development, inputs to aggregate production function. Human capital: productive investments embodies in human persons, including skills/abilities/ideals/health/locations, often resulting from expenditures on education/on-the- job training programs/medical care. Education & health as joint investments for d"vt. Greater health capital/longer life improve return to investment in education health important in school attendance & learning process. Greater education capital improve return to investments in health health programs rely on basic skills learned at school, education needed for training of health personell. Improve productive efficiency from investment in education raises return on lifesaving investment in health. Improving health & education: why increasing income is not sufficient.
