Rule of thumb method, Microeconomics

Assignment Help:

Rule of Thumb Method

Sir Ashby had been requested in 1960 by the Government of Nigeria to submit a report on manpower development in Nigeria. In doing so, in the absence of reliable micro level data, Ashby assumed that high level manpower should grow twice as fast as the target of economic growth. Likewise, second level manpower should grow three times as fast as the target of economic growth. This ratio was suggested on the basis of the experience that high level manpower categories like engineers, doctors and other professionals will always be skewed at the top as compared to their important junior level functionaries like technicians, para-medical and other supporting staff at lower levels.

However, the relation of the production of manpower to targeted economic growth did not take shape in expected ways. This was because the assumptions made were not based on hard data. Hence it came to be known as the ‘Rule of Thumb’ method.


Related Discussions:- Rule of thumb method

Common property regime , Normal 0 false false false EN-...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Financing Corportation, You are the CFO for Carnival Corportaion and your b...

You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio

#question.Question: Answer all parts (a, Consider the following insurance m...

Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low

Potential Pareto Improvement, I need some help to answer a discussion topic...

I need some help to answer a discussion topic question about Potential Pareto Improvement, based on an article

Elasticities of supply and demand, ELASTICITIES OF SUPPLY AND DEMAND ...

ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re

Estimating and predicting cost, Estimating and Predicting Cost * Estima...

Estimating and Predicting Cost * Estimates of future costs can be obtained from a cost function, which relates cost of production to level of output and other variables which t

5 theories of microeconomics, evaluate each in term of strength and weaknes...

evaluate each in term of strength and weakness relative to their applicability to asian economy situation or reality ,2. philippines economy situation or reality

Consumer choice, Suppose a family earns £1,500 per month and can either pay...

Suppose a family earns £1,500 per month and can either pay £0.50 per square foot in monthly rent for an apartment in the private rental market, or accept a 1,500 square foot house

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd