LESSON 7: Human Capital

Human capitaL

l refers to the knowledge, skills, competencies, and attributes that individuals possess, which facilitate their contribution to the economic growth

and productivity.

Human Capital Theory ( T.W Schultz and G.S Becker)

• Asserts that investments in education and training enhance an individual’s productivity

• Education and training are regarded as forms of economic investment that that increased future earnings

Theodore W. Schultz (1960)

• highlight the importance of investing in education

• Introduced Return on Investment (ROI) in education and training, focusing on cost-benefit analysis

  
  

Gary S. Becker (1964)

• Introduced general and firm-specific human capital.

• family crime and addiction

Human capital index

developed by the World Bank, measures how effectively countries develop and utilize their people's potential through investments in health and education.

• 117 / 193

Return to education

benefits individuals and societies receive from investing in education.

Private Returns (education)

benefits gained by the individual who receives the education

Social returns (education)

These are the benefits to society as a whole.

Return To health

gains from investments in healthcare and healthy living, both for individuals and for society. A healthier person is more productive, lives longer, and contributes more to the economy.

Private Returns (healthcare)

• Better physical and mental well-being.

• Longer working life.

• Fewer missed work or school days.

• Lower personal healthcare costs.

Social Returns (healthcare)

• Reduced public healthcare expenditure.

• Improved school performance (healthy children learn better).

• Higher national productivity due to a fit, capable workforce.

Education

• foundation of society

• prepare people lives cohesively

Empowering People

- Education is like a magic key that unlocks our full potential. 

Bridging Economic Gaps

- Good education is everyone’s right.

Driving Innovation and Growth

- When people are educated, it boosts a country’s edge in the world market

Fostering Critical Thinking

- It isn’t just about learning stuff; it’s also about training our brains to think smart. 

Educational challenges in the philippines

1. Poverty- inability to send their children to school

   pantawid pamilyang pilipino program (4ps)

2. :Lack of infrastructure

3. Covid-19

Digital drive

Student who lack access to technology and the internet

Gender Equity

recognizing their different needs

Public health facility

laws, regulations, actions, and decisions implemented within society in order to promote wellness

1. healthcare

2. Insurance

3. education

4. agriculture

5. Business

1. World Health Organization,

2. Centers for Disease Control and Prevention

3. Food and Drug Administration,

organizations perform research and implement education and health initiatives for a population—creating laws and policies that ensure the society has nutritious food to eat, clean water to drink, vaccines for the sick, and access to health care.

GOALS OF PUBLIC HEALTH POLICY

1. Disease Prevention Control

2. Promoting health Wellbeing

3. promoting health equity