Determinants of social demand for education - externalities, Microeconomics

Determinants of Social Demand for Education - Externalities

The state has several objectives of which welfare and development of the people are most important. Promotion of culture, protection of sovereignty of the nation, maintenance of peaceful and constructive neighbourly relations, pursuit of excellence, promotion of a just and equitable social order, fostering leadership in all walks of life, etc. are the other objectives. The list is not prioritised. The state would require a large pool of people with suitable and adequate skills, attitudes and capabilities to contribute effectively in realising these objectives.

Thus, the spread of educational opportunities would be of advantage to the larger society in general and the state in particular in fulfilling its functions. This spill over benefit of education to the society in general is known as externalities. It may assume several forms and get reflected in a variety of individual and group behaviours. Concern for hygiene and health care among educated, adoption of a small family norm, tendency to save a part of their income, development of a civic sense and people’s mobilisation for civic causes, constructive participation in electoral and other decision making processes, increased efficiency in work (in the fields of agriculture and allied activities, industry and the services) are some illustrations of externalities operating at macro level functioning of society.

Technically qualified manpower that supports the state in the realisation of its functions is the major contribution of the system of higher education. Along with this, there are a number of unaccounted and not easily quantifiable benefits. For instance, an educated woman is an asset to a society whether she is in the workforce or at home.

Posted Date: 12/17/2012 4:34:54 AM | Location : United States







Related Discussions:- Determinants of social demand for education - externalities, Assignment Help, Ask Question on Determinants of social demand for education - externalities, Get Answer, Expert's Help, Determinants of social demand for education - externalities Discussions

Write discussion on Determinants of social demand for education - externalities
Your posts are moderated
Related Questions
QUESTION 1 : What distinguishes Keynes' Liquidity preference Framework from Friedman's Modern Quantity Theory? QUESTION 2: Analyse the monetary policy tools that the Cen


what are the merits and demerits of deductive inductive methods in economic analysis?

given the cost function as C=0.3Q3-2Q2+13Q+25,find the supply function


Consider a market that is served by a single-price monopolist with marginal cost given by MC = $100 + Q. The market demand is given by P = $800 – 3Q. Determine the following: the f

what is ment by demand

The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.

assingnment on production cost

Difficulties in Measuring Cost  1) Output data may represent an aggregate of different type of products.  2) Cost data may not include opportunity cost.   3) Allocating c