Agric. Econ. - Czech, 2006, 52(3):117-122 | DOI: 10.17221/5003-AGRICECON

Human capital and modelling of its development

J. Tvrdoň
Czech University of Agriculture, Prague, Czech Republic

The paper deals with the relation between education, as pivotal characteristics of capital, and efficiency of school work-places with use of production modelling. A starting analytic tool is a determination of school facilities efficiency according to an efficiency matrix from which it results that also schools with a lower volume of resources per a student can significantly contribute to human capital development. Transformation of these sources into knowledge is expressed by a production function of education in which results of students are an endogenous variable in dependence on school resources, qualification level of students' families, school-mates' level, previous results of students and their effort. The course of the production function and its shape depends on many factors and economy of scale determined in the paper.

Keywords: education economy, human capital, modelling, production function in education

Published: March 31, 2006  Show citation

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Tvrdoň J. Human capital and modelling of its development. Agric. Econ. - Czech. 2006;52(3):117-122. doi: 10.17221/5003-AGRICECON.
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