Economics of the Education System: Relationship between Earnings, Schooling, and Income Inequality among College Students

Running head: Economics of the Education System
Economics of the Education System
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Economics of the Education System
Chapter 2: Literature review

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Economics of the Education System
Table of Contents
Introduction......................................................................................................................................3
Conceptual framework.....................................................................................................................3
Relationship between the earnings and the schooling.....................................................................5
Income inequality among the college students................................................................................7
The changes shaping the labor market...........................................................................................10
Relationship between employment and wage................................................................................12
Conclusion.....................................................................................................................................14
Summary of the chapter.................................................................................................................15
Reference list.................................................................................................................................16

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Economics of the Education System
Introduction
In the whole economy, the development of education and the job is one of the important
aspect and it is closely related with the development of the knowledge and skills. In modern
world the hiring of the employees are solely depending on the skills and the knowledge that the
employees are having. It is important for the global economy is depending on the development of
the business. The completely international economy is depending entirely on the skills and
potentiality of the human resources. Education is one of the tools that is helping in the
development of skills and potentiality of the employees. In order to increase the production
ability, the development of skills and potentiality is going to be increased by the level of the
education. However, in most of the developed nations, the education in the employee is one of
the important aspect that most of the organization is looking for the skills and technologies that
will be looking for the development of business. There is a close relationship among the earnings
of the employees and the schooling education. The study is going to highlight the relationship
among income inequality among the college students. Moreover, the changes shaping in the
labor market is going to depend solely on the demand from the economy. Most of the labor
markets of international market in nowadays, is depending entirely on the demand for the
technology and how the skills of labors are in demand.
Conceptual framework
In order to increase the identification of positive effects of education on the development
of human skills, the study has taken the impact of education and the employment ability of the
employees. It is important for the whole economy to indulge in the identification of the skills and
potentiality of the employees so that they can hire well-educated and highly skilled employees.
The virtual world of the real business is depending hugely on the big data analytics and jobs