ECONOMIC EVALUATION OF HUMAN RECOURSES

Abstract

Human capital plays an important role in economic growth theory, because economic and social development of the state is closely connected with investments into human capital. Formerly economic efficiency was measured only according to the criteria of physical capital. Scientists – economists of latter century pay great attention to the human capital, its importance and necessity to the modern state and economic growth. The scientists propose that the welfare of a state and an individual is impossible without investments into human being. It is even possible to define education as one of the crucial factors of economic growth. Human capital is a broad concept, which covers plenty of components. But the most important component is description of workforce quality (Fox, Loon, Whitton, Tunny, 2001). Any action, that increases the productivity of labour market, may be considered as the investment into human capital.

Whereas great recourses (in the long run) are targeted to the resolution of these questions, in respect of all the parties concerned, the results of such evaluation would enable to balance the policy implemented in the areas of education and rise of qualification. Therefore it is very important to evaluate the efficiency of these investments. But while analyzing, by what means investments into education are evaluated, it is necessary to take into account the social aspects (Gižienė, Vasiliauskaitė, 2007).

The aim of the article: to analyze the methods of economic evaluation of human resources, their peculiarities.

The subject of research – human resources.

The research methods used in the article – systematic analysis and summing-up of scientific literature, statistical data analysis.