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IMPORTANCE OF EDUCATION

Paper 4

Submitted to:
Prof. Krzysztof
Franklin University
MCBS

Subject:
Importance of Education

Submitted by:
Manal Mohammed Hamid Al-hooti
ID:
0620974
Date :
17/2/2015

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IMPORTANCE OF EDUCATION

Introduction
There are many long-term benefits Education over individuals, society
and economic conditions of the societies. When the individuals are educated,
those benefits arise up are called Private benefit. The most significant
private benefit of education is its impact on employment and wage. Also,
individuals could also gratify private benefits if education effects on other
personal consequences, such as their health, marriage prospects and
parenting skills. Also, education has external benefits if its returns run over
to other individuals in the same city, industry, or economy. People interaction
with greater human capital may increase their productivity. Also, External
benefits could also extended beyond expanding labor market productivity,
for example by participating to a more democratic political process or
minimizing crime. All of those benefits have a positive relationship with the
major factors leading to economic growth and development.

Education benefits to individuals:

(Non-Market) benefits
More civic engagement and volunteering: Educated person are more
dependable in the conducting of the welfare state. Also, they are more likely
to think that their contribution in politics is worthwhile than those who are

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IMPORTANCE OF EDUCATION

not educated. In addition, levels of education are related with higher levels
of civic contribution, such as voting, volunteer work, openness to others
opinions and blood donation.

Higher levels of tolerance and trust educated persons have higher

ethnical forgiveness.

Education has positive impact on various citizenship

dimensions particularly in terms of positive behavior towards transmigration.

Less likely to commit crime educated persons have lower levels of crime
amongst those who are not educated. As levels of education increases, there
are important differences in the condemnation rates for most crimes
including drug-related offences, theft, criminal damage and burglary.

Better

educational

parenting

educated

persons

are

less

facing

educational difficulties in their own children, compared with parents who are
educated at lower level. Contribution in post-compulsory education for
mothers has positive impacts on the provision of an educationally
stimulating environment for their children.

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IMPORTANCE OF EDUCATION

Longer life expectancy & Better general health educated people may
expect to live longer than those with lower levels of education and they
could report excellent health, compared with a similar individual educated
not educated, as they are more likely keen to avoid the un healthy behaviors
such as drinking excessively and smoking, less likely to be obese and they
are more likely to engage in preventative care.

life satisfaction educated people contended with life beyond the impact a
degree has on income. Continued formal and informal education and higher
levels of qualifications are associated with greater individual subjective wellbeing.

a. Economic benefits (Market)

Higher earnings: There is a positive relationship between higher levels of
education and higher earnings. Also, in addition to the high wages, higher
level educated employee could enjoy pension benefits employer-provided
and health insurance.

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IMPORTANCE OF EDUCATION

Increased

employability

and

skills

development:

higher

level

graduates are valued by Employers, as they defy how things are done and
handle at things from a contrastive perspective, employ their initiative and
perform without guidance, absorb knowledge fast, create new ideas, and
Problem solving.

Increased entrepreneurial activity and productivity :Individuals with

higher levels of education have higher levels of entrepreneurial activity .The
productivity gain of education and training is around twice of the increase in
wages.

Education benefits to society

a. (Non-Market) Benefits:

Greater social cohesion, trust and tolerance highly educated people

hold positive thinking over immigrants than those with lower levels of
education, particularly where there is religious variety and areas where there
is unequal income distribution.

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IMPORTANCE OF EDUCATION

Less crime reducing crime has a significant social benefit and economic
benefit in improving quality of life and well-being in societies.
Political stability educated people are more likely to vote and contribute in
public discussions and obtaining a degree seem to be a strong panacea to
political cynicism.
Greater social capital Educated individuals are more likely to react in
social

networks,

through

involvement

in

charitable

organization

and

participating in local government.

b. Economic (Market) Benefits

Increased tax revenues Society benefits from improved education
outcomes when individuals are employed with higher earnings and the
government collects greater tax revenue.

Greater innovation and labor market flexibility increasing the quantity

of education helps students gain more familiarity with technology, which
encourages future innovation and productivity.
Increased productivity of co-workers: higher level graduates are valued
by Employers, as they defy how things are done and handle at things from a

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IMPORTANCE OF EDUCATION

contrastive

perspective,

employ

their

initiative

and

perform

without

guidance, absorb knowledge fast, create new ideas, and Problem solving.

The impact of education on the economic conditions of a society

Faster economic growth:

Supporting the education foster human capital, and it expand
productivity in the long-run. Therefore, assisting to create structural changes
to the economy. Higher level of education helps individual gain more
knowledge with technology, which embolden innovation and productivity.
The increase in innovation and productivity lead to stimulating trade
openness which has positive effect on economic growth. Also, as the higher
educated individuals earn more they pay more tax to their governments. In
addition, as education encourage individuals to entrepreneurial activities
which lead to prosper trade within the society. As education provides better
healthy life, this will decrease the health care expenses that government
could spend. Reducing crime also, has a positive effect on the economic
condition of the societies.

Conclusion:

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IMPORTANCE OF EDUCATION

Education benefits are shared by individuals and societies of which

they are a part. Individuals with higher education level earning more than
others and enjoy better working conditions. They participate more to society,
through their civic participate and through higher tax payments. High
educated individuals also give their children benefits that maximize the
outlines that the next generation will thrive and will be in a position to
participate to society in different ways. Education have impacts on economic
growth as it derives many factors effecting the growth such as the increase
in individual earning, innovation, productivity, increase in earning tax to
government, etc.

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IMPORTANCE OF EDUCATION

References:
-

Lindsay Sandoval, (June 2012), The Effect of Education on Brazils

Economic Development, available on
https://www.american.edu/cas/economics/ejournal/upload/Global_Major
ity_e_Journal_3_1_Sandoval.pdf

Brennan, John, Durazzi, Niccolo & Sn, Tanguy, (OCTOBER 2013),

Benefits of Higher Education, a available on
https://www.gov.uk/government/uploads/system/uploads/attachment_d
ata/file/251011/bis-13-1244-things-we-know-and-dont-know-about-thewider-benefits-of-higher-education.pdf

Sarah Cattan & Claire Crawford, (March 2013), Assessing the Economic
Benefits of Education: Reconciling Microeconomic and Macroeconomic
Approaches, a available on
http://www.ifs.org.uk/caytpubs/caytreport04.pdf

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IMPORTANCE OF EDUCATION

Paper 4 Rubric

Total 100 points

Criteria

Discusses the
benefits of an
education for the
individual.

Unacceptable

Acceptable

Vaguely discusses
the benefits of an
education for the
individual or
completely off the
topic.

Discusses the
benefits of an
education for the
individual and, for
the most part,
fulfills assignment
requirements.

Proficient

Discusses the
benefits of an
education for the
individual and
demonstrates
solid ability to
accomplish the
assignment.

(0-11 points)
(12-13 points)
(14-15 points)
Discusses the
benefits of an
education for
society as a
whole.

Discusses the
impact of
education on the
economic
conditions of a
society.

Vaguely the
benefits of an
education for
society as a whole
or completely off
the topic.

Discusses the
benefits of an
education for
society as a whole
and, for the most
part, fulfills
assignment
requirements.

Discusses the
benefits of an
education for
society as a whole
and demonstrates
solid ability to
accomplish the
assignment.

(0-11 points)

(12-13 points)

(14-15 points)

Vaguely discusses
the impact of
education on the
economic
conditions of a
society or
completely off the
topic.

Discusses the
impact of
education on the
economic
conditions of a
society and, for
the most part,
fulfills assignment
requirements.

Discusses the
impact of
education on the
economic
conditions of a
society and
demonstrates
solid ability to
accomplish the

Student
Points and
Comments

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IMPORTANCE OF EDUCATION
assignment.
(20-22 points)
(0-19 points)
Integrates
established
managerial
economics
principles into the
discussion.

Synthesizes
relevant
information and
materials to
provide evidence
of critical thought.

(23-25 points)

Rarely integrates
established
managerial
economics
principles into the
discussion.

For the most part,

does a good job of
integrating
established
managerial
economics
principles into the
discussion.

Consistently does
a good job of
integrating
established
managerial
economics
principles into the
discussion.

(0-11 points)

(12-13 points)

(14-15 points)

Synthesizes
information at a
minimal level.

For the most part,

effectively
synthesizes
information, which
supports main
ideas.

Consistently and
effectively
synthesizes
information, which
provides strong
support to main
ideas.

(0-7 points)
(8 points)
Uses supporting
documentation
that has been
properly
references and
cited.

Inadequate or
minimal use of
supporting
documentation or
not properly
referenced or
cited.

(0-3 points)

(9-10 points)

For the most part,

uses supporting
documentation
that is properly
referenced and
cited.

Consistently uses
supporting
documentation
that is properly
referenced and
cited.

(4 points)

(5 points)

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IMPORTANCE OF EDUCATION
Considered
holistically,
demonstrates
the ability to
write at the
graduate level.

Considered
holistically, the
student
demonstrates an
inadequate
ability to write at
the graduate
level.

Considered
holistically, the
student
demonstrates an
acceptable
ability to write at
the graduate
level.

(0-11 points)

(12-13 points)

Considered
holistically, the
student
demonstrates a
proficient ability
to write at the
graduate level.

(14-15 points)

SubTotal
Points =
Turnitin.com

Did not turn

paper into
Turnitin.com

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Minus 10 points
Revisions based
on the originality
Report.

Did not revise

paper based on
the originality
report
Minus 10 points

Total Points