ECON 313-chap8

ECON 313-chap8 - ECON 313 Chapter 8 - Human Capital:...

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ECON 313 Chapter 8 - Human Capital: education and health in Economic Development Vocabulary - Basic education: the attainment of literacy, arithmetic competence, and elementary vocational skills. - Brain drain: the emigration of highly educated and skilled professionals and technicians from the developing countries to developed world - Conditional cash transfer (CCT) programs: welfare benefits provided conditionally on family behavior such as children’s regular school and health clinic attendance. - Derived demand: demand for a good that emerges indirectly from demand for another good. In education, demand for schooling derived from the ultimate demand for modern-sector jobs requiring a school certificate. - Educational gender gap: male-female differences in school access and completion - Health system: all the activities whose primary purpose is to promote, restore, or maintain health - Human capital: productive investments embodied in human persons. These include skills, abilities, ideals, and health resulting from expenditures on education, on-the-job training programs, and medical care. - Human immunodeficiency virus (HIV): the virus that causes AIDS - Neglected tropical diseases: a set of 13 (mostly parasitic) diseases, prevalent in developing countries but receiving much less attention than the big three of tuberculosis, malaria, and AIDS The Central Roles of Education and Health - Education and health are basic objectives of development Health is central to well-being Prerequisite for increases in productivity successful education relies on adequate health Education is essential for a satisfying and rewarding life Key role in the ability of a developing country to absorb modern technology and to develop the capacity for self-sustaining growth and development Both health and education can be seen as vital components of growth and development Inputs to the aggregate production function. The dual role as both inputs and outputs gives health and education their central importance in economic development. In 50s, some 280 of every 1000 children in the developing world as a whole died before their 5 th birthday. By 2005, the number had fallen. Some killers have been eradicated, or nearly eliminated (ex. Smallpox) Major childhood illnesses such as rubella and polio have been largely controlled through the use of vaccines. - Developing world face great challenges as it seeks to continue to improve the health and education of its people - The distribution of health and education within countries is important Life expectancy may be quite high for better-off people in developing
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countries but far lower for the poor. Child mortality rates in developing countries are still higher than rich countries. These deaths result from conditions that are easily treatable (ex.
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ECON 313-chap8 - ECON 313 Chapter 8 - Human Capital:...

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