Human capital theory

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Psychology
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A review of the literature suggests that higher education is being evaluated within the context of a production function model (Garner 2000; Robst, 2001; Reich, 1992; Toffler and Toffler, 1995). Toward this end, the concept of an interdependent and intertwined synergistic relationship of an educational society, the economics of a community and the overall economy as proposed by Garner (2004) will be explored…

Introduction

To test the theory of an interdependent and intertwined synergistic relationship of an education society, the economics of a community and the overall economy, ANOVA, correlation analysis, and Regression Modeling analysis was applied. This paper is designed to frame the discussion about approaches states can use to build better models to connect public information about the economics of higher education along with state-level planning and public policy for higher education.
Our study will focus on the effects of graduation rate on the Gross State Product (GSP). Over the past decade, accountability pressure in education is at the forefront on all levels. At the K-12 standards movement, buttressed by the No Child Left Behind legislation, which created a standards-assessment based paradigm to improve student academic performance to reduce achievement gaps between racial and economic groups. Despite many bumps in the road, the momentum from the K-12 accountability model has increased expectations for an analogous approached in higher education (Assessment, Accountability and Productivity: Building Models to Connect Learning Assessments with Public Accountability Structures in higher Education, p. 1; with Firestone Accountability Metrics question and answer). ...
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