Approaches to Educational Planning II

Summary

This video discusses two key approaches to educational planning: the Rate of Returns Approach (CBA) and the Employment Generation Approach (EGA). CBA evaluates educational investments by comparing current costs with future benefits, aiming for greater productivity and national economic growth. However, it overlooks social background factors and is difficult to implement in developing countries. EGA, on the other hand, focuses on creating sufficient employment opportunities for skilled individuals, promoting entrepreneurship and reducing skill mismatches. While EGA addresses current labor market needs, it may concentrate resources in high-demand sectors and overlook future job market disruptions.

Takeaways

• 😀 Educational planning is crucial for shaping educational systems and achieving societal development.
• 😀 The goal of educational planning is to optimize resources, ensure equitable access, and prepare individuals for lifelong learning.
• 😀 The rate of returns (cost-benefit) approach focuses on analyzing the costs of education against the expected benefits.
• 😀 If the cost of an educational program is higher than the benefits, it is not advisable to invest in it; if benefits outweigh costs, investment is encouraged.
• 😀 The rate of returns approach can be applied to all education levels, from primary to tertiary, as each level is seen as an investment in human resources.
• 😀 One of the assumptions of the rate of returns approach is that higher education levels lead to higher productivity and earnings.
• 😀 Advantages of the rate of returns approach include the ability to compare educational investments, minimize waste, and focus on cost-benefit analysis.
• 😀 A key disadvantage of the rate of returns approach is its failure to consider the social background and abilities of individuals, which affect their educational outcomes.
• 😀 The employment generation approach emphasizes creating sufficient job opportunities for skilled individuals, rather than just producing skilled individuals.
• 😀 The employment generation approach aims to reduce unemployment and underutilization of human resources, especially in developing countries, and it also supports entrepreneurship and self-employment.

Q & A

What is the main objective of educational planning?

The main objective of educational planning is to shape the direction and development of educational systems, optimize resources, ensure equitable access, and contribute to societal development.

What are the two approaches to educational planning discussed in the video?

The two approaches discussed in the video are the Rate of Returns Approach (Cost-Benefit Approach) and the Employment Generation Approach.

What is the key focus of the Rate of Returns Approach to educational planning?

The Rate of Returns Approach focuses on evaluating the cost and benefits of education, emphasizing that investments in education should be justified by the expected returns, such as higher productivity and increased earnings.

How does the Rate of Returns Approach assess educational investments?

The Rate of Returns Approach assesses educational investments by comparing the present costs of education with the future benefits, such as productivity and economic contributions, to determine if the investment is worthwhile.

What are the advantages of the Rate of Returns Approach?

The advantages include the ability to compare alternative educational investments, providing a prudent planning strategy, minimizing waste, and focusing on cost-benefit analysis to ensure efficient use of resources.

What are the disadvantages of the Rate of Returns Approach?

The disadvantages include not considering social backgrounds and abilities of individuals, difficulties in calculating social and private returns in developing countries, and focusing only on the investment aspect of education while ignoring its consumption aspect.

What is the central idea behind the Employment Generation Approach to educational planning?

The Employment Generation Approach emphasizes not just producing skilled individuals but also creating sufficient employment opportunities for them, with the goal of improving both individual livelihoods and broader economic development.

How does the Employment Generation Approach differ from the Manpower Requirement Approach?

While the Manpower Requirement Approach focuses solely on producing skilled individuals for future employment, the Employment Generation Approach aims to meet both current and future employment needs and emphasizes the importance of entrepreneurship and self-employment.

What are the merits of the Employment Generation Approach?

The merits of the Employment Generation Approach include minimizing skills mismatches between graduates and job positions, fostering entrepreneurship, and addressing both immediate and future labor market needs.

What are the potential drawbacks of the Employment Generation Approach?

The drawbacks include over-concentration of educational resources in sectors with high employment potential, regional disparities by focusing on areas with more job growth, and overlooking future disruptions in the job market due to technological advancements.