Background Of The Study About Education Essay

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1.1 Background of the study
Education is crucial to the socio-economic development of a country. It plays a vital role in building human capabilities and accelerates economic growth through knowledge, skills and creative and innovation strength of a society. The positive outcomes of education include reduction in poverty and inequality, improvement in health status and good governance in implementation of socio-economic policies Buchmann,(2006). The multifaceted impact of education makes it an essential element for policy framework. Developing countries, where majority of the world’s population resides, need to redesign educational policies for promoting productivity in different sectors of the economy by developing highly skilled manpower and addressing their development needs for rapid industrialization Buchmann,(2006).

Some of the earliest work in the economics of
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Education requires instruction of some sort from an individual or composed literature. The most common forms of education result from years of schooling that incorporates studies of a variety of subjects.Lopez et al (2008) education enriches people’s understanding of themselves and the world. It improves the quality of their lives and leads to broad social benefits to individuals and society in general. It also raises people’s productivity and creativity and promotes entrepreneurship and technological advances, demonstrated in countries from Malaysia to Ghana”. Thus, the knowledge which received through higher education can be contributed to catch up with technologically advanced countries through better use of modern technologies, developing new equipment and skills while expanding entrepreneurship with positive effects on job creation and spill-over the knowledge among
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