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Daniel B. Pena Memorial College Foundation Graduate Studies

Education plays a crucial role in economic development by providing skills and encouraging modern attitudes that increase income and employment opportunities. Investing in education reduces income inequality and encourages family planning, entrepreneurship, and on-the-job training. While education boosts economic growth and reduces poverty, achieving equal access to education remains complicated for developing countries. Overall, education is indispensable to economic development by promoting productivity, income, and sustainable growth at both individual and national levels.

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111 views3 pages

Daniel B. Pena Memorial College Foundation Graduate Studies

Education plays a crucial role in economic development by providing skills and encouraging modern attitudes that increase income and employment opportunities. Investing in education reduces income inequality and encourages family planning, entrepreneurship, and on-the-job training. While education boosts economic growth and reduces poverty, achieving equal access to education remains complicated for developing countries. Overall, education is indispensable to economic development by promoting productivity, income, and sustainable growth at both individual and national levels.

Uploaded by

edz Key
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Daniel B.

Pena Memorial College Foundation


Graduate Studies
Tabaco City

ROLE OF EDUCATION IN ECONOMIC DEVELOPMENT in Philippine Setting

Key Questions:
 What is the importance of education to our economy?
 What will be the outcome if you invest in education to the economy of the
country?
 What is the role of education in economic development of our country?

Introduction:
 Education plays a very crucial role amid pandemic in securing economic and
social progress and improving income distribution.
 The school plays a significant role in developing lifelong learners and
preparing graduates to challenges for employment and entrepreneurship.
Moreover, the school is a crucial factor in the formation of required values, a
decisive factor in social mobility and the creation of new elites. However, this
might be hindered by ongoing world-wide health problem.
 If we produce globally competitive individuals, economic development in the
province or region can be easily achieved or attained. Employment rate will be
increased hence, small economies can be developed and improved and
benefits of growth can be shared so that all sections of the community can
participate.
 Education provides a foundation for development, the groundwork on which
much of our economic and social well being is built.
 It is the key to increasing economic efficiency and social consistency.
 By increasing the value and efficiency of their labor, it helps to raise the poor
from poverty. It increases the overall productivity and intellectual flexibility of
the labor force.
 It helps to ensure that a country is competitive in world markets now
characterized by changing technologies and production methods.
 By increasing a child’s integration with dissimilar social or ethnic groups early
in life, education contributes significantly to nation building and interpersonal
tolerance.
 “a nation which does not educate its women cannot progress”
Haci Bektaş Veli (1208-1270)

Role of Education in Economic Development


 Investing in education is one of the best method to promote economic
development. It is because education provides skill and encourages modern
attitudes. Besides this, it also increases income earning and employment
opportunities.

Role of Education in Rural Development


 Development of rural place in Philippines is essential for economic
development. Education provides knowledge to the rural people with which
they can overcome ignorance and superstitions.
Education in Rural Economic Development
Education provides skill to the people and it will encourage them to set up cottage
industries. This reduces disguised employment.

Reduction of Income Inequality


 Education helps to improve human capabilities which is much very essential
to increase the earnings of the people.
 In short, it can be said that education helps in skill enhancement of an
individual. This ability brings uniformity in the pay scale and reduces income
inequalities.

Family Planning
 Education enlightens the mindset of the people and gives the ability to plan
and restrict the size of the family.

Educating Family to Plan


 It is through education only, best results in family planning can be achieved in
the long run.
 Besides this, if more number of women are educated and get employment,
fertility rates in the country will reduce as upbringing of children becomes
difficult for women employees.

On Job Training
 It is essential to provide on the job training to the workers as it helps in
increases the productivity. It enhances the skill and efficiency of workers
which paves the way for economic development of the country.

 In addition to this, if we have globally competitive graduates, investors will


likely to invest in the province or region, creating more jobs which leads to
better standards of living.

 Thus, schools must serve their purpose of providing quality education in order
to raise people’s productivity and creativity and to promote entrepreneurship
which leads to economic and social progress.

 As school leaders, it is very important to identify what are the needs of the
learners. School Heads and teachers must work hand in hand to deliver
quality education to the learners.

 The Department of Education has already realized the importance of


leadership that is why the National Educators Academy of the Philippines
conducted a program called School Heads Development Program in which
leadership is included as one of the domains.

 Despite great progress in the past few years, children are denied education.
We must understand that education and development go hand in hand.

 The Role of education in developing countries is a very important one as lack


of education causes poverty and slow economic development of a country
especially if the country is a developing country.
 Education is very important for everyone it’s a primary need of any individual,
every girl or boy child should have the right to quality education so that they
can have better chances in life, including employment opportunities, and
better health.

 The role of education in poverty reduction is huge. Some advantages of


education are: it boosts economic growth and increases the GDP of a country.
It even reduces infant mortality rate, increases human life expectancy.

 Education is an important investment in a country as there are huge benefits.

 Education guarantees lifetime income; it promotes peace and reduces drop-


out rates from schools and colleges and encourages healthy competition.

 Many children dropout form colleges as they are not aware of the advantages
of college education. Education helps in making the right decisions at the time
of conflicts.

 Children who have access to quality educational programs perform better and
are successful in their lives.

 It is vital that the education system in developing countries must be built in


such a way that students apply their minds in the development of their
country.

 Access to education can improve the economic and financial lifestyle of


citizens and determine the prospects of future generations, especially in
developing countries.

 However, achieving these goals is complicated. Policymakers have


implemented various measures to increase access to education but the
results are mixed.

 Education is indispensable to economic development.

No economic development is possible without good education.

 A balanced education system promotes not only economic development, but


productivity, and generates individual income per capita.

 If people do not get suitable education, they not only forego much more at
present but also in the future.

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