An Empirical Study On Educational Development And Its Impact On National Development
1.1 Background Of The Study
There are several reasons why education is important. The stock of skills, competencies, and other productivity-enhancing characteristics can be described as education (WEF 2016). Training, as a vital component of a country’s human resources, improves the productivity of each individual worker and aids economies in moving up the supply chain above manual labor or basic manufacturing processes. (WEF 2016).Human capital has long been regarded as the most distinguishing characteristic of the economic environment, and new research has empirically shown the effect of schooling on productivity growth. Economic development, wages, and earnings are all influenced by education. Ignoring the economic context of schooling will jeopardize future generations’ wealth, with far-reaching implications for hunger, social isolation, and the long-term viability of social insurance programs (Woessman 2015).For every dollar spent on education, $10 to $15 in economic development can be produced (UNESCO 2012). If 75 percent more 15-year-olds in 46 of the world’s poorest countries achieved the lowest OECD maths benchmark, economic growth will rise by 2.1 percent, lifting 104 million people out of extreme poverty (UNESCO 2012).Human capital creation (education and health status of a population) is essential for a country’s economic growth. Better schooling is not only an essential (though not always sufficient) precondition for long-term economic growth (IIASA 2008).Higher education has the potential to make a significant contribution to growth (Boni and Walker 2016; Castells 1994; McCowan 2016, 2019; Oketch et al. 2014; Owens 2017). Institutions of higher learning have played an important role in societies throughout modern history, training the elite and making groundbreaking advances in science and the humanities. The Platonic Academy in Athens (fourth century B.C.), the Musaeum in old Alexandria (third century B.C.), and the Imperial Academy in China (second century B.C.) are examples of such institutions. In medieval Europe, the first Western-style universities arose, which, through their exclusivity, aided in the development of education across the continent and beyond. Higher education now has a larger capacity for contributing to social growth as interest in universities has expanded beyond the elites Universities have the ability to train people, politicians, students, scientists, ,engineers, philosophers, lawyers, artists, and activists to support the development of peaceful, inclusive, and just societies. Higher education’s primary goal is to give people the time and energy they need to learn new ideas to figure out who they are and what they want to be.
1.2 Statement Of The Problem
It is a fact that the growth of every nation is fundamentally dependent on citizens’ innovative capacity to successfully explore and harness the country’s natural resources and turn them into finished goods and services in order to improve the quality of life of the country’s citizens (Dibia, 2015).It is also self-evident that every nation’s economic, science, and technical advancement is dependent on the quantity and standard of skills provided by its educational system to its people (Dibia, 2015).
There are three channels by which schooling influences a country’s competitiveness were proposed by the World Economic Forum in 2016. First, it improves the workforce’s cumulative capacity to complete current projects more effectively. Second, secondary and tertiary education make it easier to share ideas about new content, innovations, and technology developed by others (Barro and Lee 2010).Lastly, growing innovation strengthens a country’s ability to develop new knowledge, goods, and technology.
1.3 Objective Of The Study
- To know if there have been provision of quality education in man power applied research, technology and commerce.
- To assess if the right training and teaching methods have been effective on people who wants to be economically self-sufficient.
1.4 Research Questions
- To what degree has qualified manpower in applied research, technology, and commerce been provided?
- How effective is the teaching and imparting of required skills to people who want to be economically self-sufficient?
1.5 Significance Of The Study
This research work focused on educational development and the impact on national development it would serve as a reference material for other researchers, intellectuals, and students who wish to conduct related research.
1.6 Scope Of The Study
This research work focus solely on the impact of educational development on national development, The study was carried out in Ughelli, Delta state.
1.7 Limitation Of Study
Collection and access to material and time constrain were all limits the reseacher face during the course of this research.
1.8 Definition Of Terms
Educational development refers to faculty members’ continuing professional and personal development, as well as the evolution of teaching and learning through the university. It is both philosophy and reality, a discipline and a career, and it is both clear and ambiguous.
National growth refers to the overall development of a country. It is best described as the holistic and balanced growth of the nation’s various aspects and dimensions, including political, economic, social, cultural, science, and material production.
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Frequently Asked Questions
What is the role of higher education in economic development?
Higher education is a form of investment in human capital development and has a real contribution to the economic growth of countries. At present, higher education provides an input to the transformation of countries into knowledge economies.
What is the relationship between education and growth?
The direction of the causality that we account for is from education to economic growth. In some cases, an increase in education might have a positive (or large) effect on GDP growth and, in other cases, the effect might be negative (or small).
Is there a threshold for education to drive economic growth?
This paper aims to consider education as a channel for human capital improvement and then for economic growth. The authors hypothesize the existence of a threshold for education, after which point the characteristics of economic growth change.
Is education a channel for economic growth?
In this paper, we start from the assumption that a country with a population that is capable of exploiting new knowledge will perform better; as such, education is considered a channel for economic growth since it constitutes an intrinsic mechanism for knowledge absorption.