Human Capital
Human Capital | 25.März 2013 |
Table of Contents
Introduction…………………………………..…………………………………………….. Meaning and Importance of Human Capital………………………………………….. How to acquire Human Capital History………………………………………………………………………………………… Resource based vs. Knowledge based Economy…………………………………… Impact of Human capital………………………………………………………………….. Measurements of Human Capital……………………………………………………….. Output-Based Approach……………………………………………………………….. Cost-Based Approach………………………………………………………………….. Income-Based Approach………………………………………………………………. Human Resources and Management……………………………..……………………. Human Capital in the Real World…………………….………………………………. Evaluation…………………………………………………………………………………… Literature…………………………………………………………………………………….
Introduction of the meaning and importance of human capital
When most people think about investments, people think of stocks, banks and in general everything that has to do with money, but it is also possible to invest in education, training and experience. Human capital is the stock of knowledge and skills, embodied in an individual as a result of education, training and experience that makes the individual more productive in the labor market (De la Fuente & Ciccone, 2002). It is now accepted that the foundation of human capital is based on knowledge and skills acquired by an individual throughout an individual’s lifespan. Human Capital is a non-tradable good. Capital is defined as a factor of production. In neoclassical theory, capital is defined on the aspects of production and represents the status of investments made in the past in the economy, which requires the exchange of current consumption for future consumption.
How to acquire Human Capital
Whether an individual acquired or inherited human capital, skills and knowledge are embodied into every individual. Individuals who acquire human capital do not always have control over of how and what kind of
Table of Contents
Introduction…………………………………..…………………………………………….. Meaning and Importance of Human Capital………………………………………….. How to acquire Human Capital History………………………………………………………………………………………… Resource based vs. Knowledge based Economy…………………………………… Impact of Human capital………………………………………………………………….. Measurements of Human Capital……………………………………………………….. Output-Based Approach……………………………………………………………….. Cost-Based Approach………………………………………………………………….. Income-Based Approach………………………………………………………………. Human Resources and Management……………………………..……………………. Human Capital in the Real World…………………….………………………………. Evaluation…………………………………………………………………………………… Literature…………………………………………………………………………………….
Introduction of the meaning and importance of human capital
When most people think about investments, people think of stocks, banks and in general everything that has to do with money, but it is also possible to invest in education, training and experience. Human capital is the stock of knowledge and skills, embodied in an individual as a result of education, training and experience that makes the individual more productive in the labor market (De la Fuente & Ciccone, 2002). It is now accepted that the foundation of human capital is based on knowledge and skills acquired by an individual throughout an individual’s lifespan. Human Capital is a non-tradable good. Capital is defined as a factor of production. In neoclassical theory, capital is defined on the aspects of production and represents the status of investments made in the past in the economy, which requires the exchange of current consumption for future consumption.
How to acquire Human Capital
Whether an individual acquired or inherited human capital, skills and knowledge are embodied into every individual. Individuals who acquire human capital do not always have control over of how and what kind of