human capital
DESCRIPTION
Labor Economics Series. Human Capital. Andri Wijanarko,SE,ME [email protected]. Chinese Proverb. Give a man a fish and you feed him for one day Teach a man to fish and you feed him for a lifetime. Pendidikan. ?. Mencari jenjang pendidikan lebih tinggi. SMP. SMU. Lulus SMU. SD. - PowerPoint PPT PresentationTRANSCRIPT
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Chinese Proverb
Give a man a fish and you feed him for one day
Teach a man to fish and you feed him for a lifetime
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Pendidikan
Lulus SMU
SD
SMP SMU
?Mencari jenjang pendidikan lebih tinggi
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Pasca SMU
Menikah
BekerjaKuliah
5
Mengapa Kuliah ?
Disuruh orang tua
Alasan
Ekspektasi pendapatan
Ikut-ikutan
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Basic Concept
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Human CapitalDefinition
acquired skills to entering labor market.
• Unique set of abilities and acquired skills
Assumption• Maximizes the present value of
lifetime earnings
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InvestmentEhrenberg &Smith :
• Entail an initial cost that one hopes to recoup over some periode of time
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Three Major kinds of Labor Market Investment
Ehrenberg &Smith :
1. Education and Training
2. Migration
3. Search for the new jobs
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Three Major kinds of Labor Market Investment
All three investment involve an initial cost, and all three are made in the hope and expectation that the investment will pay off well into the future
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Three Major kinds of Labor Market Investment
The Knowledge and Skills a worker has generate a certain stock of productive capital
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Three Major kinds of Labor Market Investment
Job search and Migration are activities that incerase the value of one’s human capital by ncreasing the price (wage) received for a given stock of skills
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Three Stages of Human Capital Investment
A. Early Childhood The acquisition of human
capital is largerly determined by decisions of others :
• Parental resources and guidances
• Cultural environment• Early schooling experiences
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Three Stages of Human Capital Investment
B. Teenagers and young adult
• Full time students in a high school, college or vocational training program
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Three Stages of Human Capital Investment
C. Entering labor market
• On-the-job training• Formal traning
program
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HIGHEST GRADE COMPLETED(USA 1996 - Percent of Population in Education Category)
GROUPLess than
high School
High School Graduates
Some College
Associate Degree
Bachelor Degee
Advance Degree
All Person 18.3 33.6 17.3 7.2 15.8 7.8
GenderMaleFemale
18.118.4
31.935.1
17.417.3
6.67.8
16.415.1
9.56.2
RaceWhiteBlackHispanic
17.225.746.9
33.935.126.0
17.318.813.2
7.36.73.6
16.110.06.6
8.13.62.6
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LABOR MARKET CHARACTERISTICS BY EDUCATION GROUP (ALL-WORKER-1996)
USA Less than high School
High School Graduates Some College College
Graduates
Labor Force Participation Rate
60.2% 77.9% 83.7% 87.8%
Unemployment Rate 10.9% 5.5% 4.1% 2.2%
Annual Earnings US$ 17.430 US$ 24.248 US$ 29.096 US$ 46.552
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Investment : Present Value
• Keputusan Investasi : Gain antara “Current Cost” dan “Future Returns”
• Fakta : terdapat perbedaan nilai antara saat ini dengan yang akan datang
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Present Value
Present Value allows us to compare payment amount spent and received in different periods
r
yPV
1Note :
y Future Value
r Rate of Interest
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Present Value
The quantity Present Value (PV) tells us how much needs to be invested today in order have y dollars next year
Period 0 1 2 3 4 5
Value 100.000 110.000 121.000 133.100 146.410 161.051
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Schooling Model
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• Workers acquire the skill level that maximizes the present value of lifetime earnings
Schooling Model
• Education and other forms of training, therefor, are valued only because they increased earnings
Maximizes Utility
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Age-Earning ProfileUpah
Usia
18 65
USMU
22
- U
UKUL
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• Biaya melanjutkan pendidikan H• Asumsi : Highly educated more
productive• Employer membayar wage wCOL
untuk “mengganti” biaya pendidikan.
• Worker akan melanjutkan pendidikan bila wHS < wCOL
Age-Earning Profile
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Present Value of Age-Earning Profile
Present Value lulusan SMU (bekerja usia 18-64 th):
462 )1(...
)1()1( r
w
r
w
r
wwPV SMUSMUSMU
SMUSMU
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Present Value of Age-Earning Profile
Present Value melanjutkan pendidikan :
PendidikannMelanjutkaBiaya
KUL r
H
r
H
r
HHPV
32 )1()1()1(
PendidikannMelanjutkaSetelahnPenghasila
KULKULKUL
r
w
r
w
r
w4654 )1(
...)1()1(
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Present Value of Age-Earning Profile
Contoh :• Asumsi : worker hanya bekerja selama 2
tahun• Earning lulusan SMU : Rp 100.000
rPVSMU
1
000.100000.100
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• Bila melanjutkan pendidikan 1 th, kemudian bekerja dengan earning Rp 250.000 dan biaya pendidikan Rp 40.000
Present Value of Age-Earning Profile
rPVKUL
1
000.250000.40
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Bila Interest : 5% maka :
Present Value of Age-Earning Profile
238.195238.95000.10005,01
000.100000.100
SMUPV
095.198095.238000.4005,01
000.250000.40
KULPV
Karena PVSMU < PVKUL : Worker melanjutkan pendidikan
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Bila Interest : 10% maka :
Present Value of Age-Earning Profile
Karena PVSMU > PVKUL : Worker tidak melanjutkan pendidikan
909.190909.90000.1001,01
000.100000.100
SMUPV
273.187273.227000.401,01
000.250000.40
KULPV
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• Rate of Interest (rate of discount) berpengaruh terhadap keinginan melanjutkan pendidikan, dapat berupa market rate of interest.
• Rate of Discount also depends on how we feel about giving up some of today’s consumption in return for future rewards.
• Present Oriented Worker higher rate of discount
Present Value of Age-Earning Profile
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The Wage-Schooling Locus
• Wage-Schooling Locus menggambarkan tingkat upah yang dibayarkan employer untuk tingkat pendidikan tertentu.
• Ditentukan oleh juga equilibrium pasar (Supply & Demand)
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The Wage-Schooling LocusDollars
Years of Schooling12 13 14
20.000
23.000
25.000
18
28.000
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Rata-rata Upah Pekerja Pria Th. 2005
896.538
332.925434.955
521.409640.983
731.785
956.579 979.182
1.204.205
1.446.329
1.717.029
0
200.000
400.000
600.000
800.000
1.000.000
1.200.000
1.400.000
1.600.000
1.800.000
Rata-ra
ta
Tdk/B
lm Per
nah Sek
olah
Tdk/B
lm Ta
mat SD S D
SMTP Umum
SMTP Keju
ruan
SMTA Umum
SMTA Keju
ruan
Diploma I/II
Akade
mi/Dip.
III
Univers
itas
Sumber : BPS, Sakernas Tahun 2005
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Rata-rata Upah Pekerja Wanita Th. 2005
634.378
187.142 224.856290.716
453.083 475.690
676.002769.514
998.3901.060.401
1.207.982
0
200.000
400.000
600.000
800.000
1.000.000
1.200.000
1.400.000
Rata-ra
ta
Tdk/B
lm Per
nah Sek
olah
Tdk/B
lm Ta
mat SD S D
SMTP Umum
SMTP Keju
ruan
SMTA Umum
SMTA Keju
ruan
Diploma I/II
Akade
mi/Dip.
III
Univers
itas
Sumber : BPS, Sakernas Tahun 2005
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The Marginal Rate of Return to School
• Slope of the wage-schooling locus (w / s) menyatakan peningkatan earnings yang diterima apabila melanjutkan pendidikan.
• Menyatakan persentase peningkatan earnings untuk setiap peningkatan educational investment.
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The Marginal Rate of Return to School
Stage 1
Peningkatan $3.000 ($20.000 $23.000) karena menambah waktu pendidikan 1 th (12 tahun menjadi 13 tahun).
Peningkatan : %15%100000.20
000.3
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The Marginal Rate of Return to School
Stage 2
Peningkatan $2.000 ($23.000 $25.000) karena menambah waktu pendidikan 1 th (13 tahun menjadi 14 tahun).
Peningkatan : %7,8%100000.23
000.2
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Peningkatan semakin kecil Stage 1 = 15 % Stage 2 = 8,7 %
The Marginal Rate of Return to School
Worker stop schooling bila : The Marginal Rate of Return to
Schooling = Rate of Discount
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The Schooling DecisionRate of Discount
Years of Schooling
r
MRR
s’
r’
s’’
r = MRR
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On The Job Training
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On-the-job training merupakan salah satu aspek penting dalam worker’s human capital stock.
Jacob Mincer : OJT memberikan kontribusi hingga separuh dalam proses pembentukan human capital.
On-The-Job Training
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On-The-Job Training
Worker bekerja untuk 2 periode maka profit-maximizing (tanpa training) :
r
VMPVMP
r
TCTC
112
12
1
TC Total Labor Cost
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On-The-Job Training
Apabila rekruitment dilakukan dengan On-The-Job Training maka :
r
VMPVMP
r
wwH
112
12
1
H Biaya training
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On-The-Job Training
GENERAL TRAINING
Skill & knowledge dapat digunakan di firm lain.
Training period : w1 = VMP1 - H
Posttraining : w2 = VMP2
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On-The-Job Training
GENERAL TRAINING
Firms provide general training, therefor, only if they don’t pay any of the costs.
Wage masa training rendah karena untuk H
Mempertahankan worker : w1 < w2
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On-The-Job Training
SPECIFIC TRAINING
Skill & knowledge tidak dapat/tidak mudah digunakan di firm lain (not portable).
merupakan alternative wage (other firms)w
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On-The-Job Training
SPECIFIC TRAININGFirm akan mendapat gain : w2 < VMP2 ,
namun beresiko worker keluar firm menginginkan jaminan worker tidak keluar dari firm
Bila worker “pays” for the spesific training w1 rendah menginginkan jaminan tidak dikeluarkan dari firm karena skill dari spesific training tidak portable.
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On-The-Job Training
SOLUTION FOR SPECIFIC TRAINING
w < w2 < VMP2
Firm dan worker share the return from spesific training.
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Penduduk usia 15 tahun yang mencari kerja
di Surabaya Th.2003
106910
131859
6927673968
87014 85404
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
1998 1999 2000 2001 2002 2003
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16.118
98.558
18.055
79.114
8.049
135.257
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
2000 2001 2002
Kesempatan Kerja Pencari Kerja
Perbandingan Pencari Kerja dan Lapangan Kerja di DKI Jakarta
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Kompetensi Sarjana
ORAL COMMUNICATION
WRITTEN COMMUNICATION
Knowledge of Field Knowledge of Technology
Ability to Work Independently
Ability to Work in Team SettingLogical Skill
Analytical Skill
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See you next time…