Education for Economy Theory as it Relates to Adult Education
In an economy motivated by improvement and information, in marketplaces betrothed in powerful opposition and steady regeneration, in a world of incredible chances and risks, in a culture facing multifaceted business, political, scientific, technological, health and environmental challenges, and in diverse workplaces and neighborhoods that center on mutual associations and social networking, the cleverness, nimbleness and skills of the American people are vital to U.S. competitiveness (21st Century Skills, Education & Competitiveness, 2008).
Education economics is the study of economic matters as they relate to education, comprising the demand for education and the funding and condition of education. The leading model of the demand for education is founded on human capital theory. The main idea is that undertaking education is an investment in the attainment of skills and information which will augment earnings, or offer long-range benefits such as an...
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