Penn State University

Penn State University
Describe how insights from the discussion about investment in human capital (either at the individual level or by the employer in terms of general or firm specific training) may be applied by you, the HR manager, to a situation at your place of employment. (10 points)

Part 2 – ANALYSIS
Answer one (1) of the following questions. Be sure to address all parts of the question. (10 points)

1. Compare and contrast general and firm specific training. What are direct and indirect costs of employer-provided training? Explain the connection between firm specific training investments and the tendency of both employers and workers to wish to establish a long-term relationship with each other.

2. Is education purely an investment good with a pay-off in earnings only? For example, how does the increasing popularity of adult education and elderhostels (retirees traveling and paying for short-term courses on special topics) conflict with human capital theory?

3. Suppose you were invited, as a representative of students, to the U.S. Congress to testify regarding the “social returns” to taxpayer investments in higher education. What is meant by social returns? What are examples of social returns to education? Explain how “the public” benefits from subsidizing the private costs of human capital expenditures on higher education.

4. Are differences in human capital investment choices among individuals due more to their preferences, (innate) abilities and motivation, or socioeconomic background (including the effects of discrimination and imperfect credit markets)? Based on that view, should public subsidies for K-12 and higher education be targeted more towards low income students, low ability students, or to all students regardless of ability?

Part III-Data
Answer the following question. (10 points)

The US Department of Labor has posted predicted occupational projections that include the level of education and training necessary for each occupation.
http://www.bls.gov/emp/ep_data_occupational_data.htm
Respond/react to the projections using views expressed as part of the Hilton (2008) article and any other of the readings for this topic. You are also welcome to use some of the resources listed at this site.
Guidelines and Rubric
Write the responses like you are writing to someone who knows very little about the topic. When you can explain something complex to someone with little knowledge in that area so that they understand your explanation, it shows that YOU really know the topic. (There is nothing like teaching or explaining an idea to really learn that concept!) ALWAYS define new terms and concepts as part of your responses. While this can be tedious, this strategy assures that you know the definitions and are not making a false start. Definitions are also a key component of the critical thinking process.

Be sure to answer all parts of the question. Often one part of a question is a “lead in” for another part of the same question. Don’t throw away points by missing parts of the question.
I strongly encourage you to include “real world” examples and personal experiences in your responses. The reason for this is that when you can relate the concepts and ideas introduced in the readings to the real world or personal experience, it will help you remember and understand that particular concept. When you can translate complex ideas into your own world and your own words, I know that you really “own” that concept.

 

 

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