IOP2605 Assignment 4 Semester 1 2023
QUESTION 1
Read the following excerpt and answer the questions that follow: “Basing her
educational agenda, such as the Millennium Development Goals, on the tenets
of human capital theory, South Africa has, like many developing countries,
invested heavily...
QUESTION 1
Read the following excerpt and answer the questions that follow: “Basing her
educational agenda, such as the Millennium Development Goals, on the tenets
of human capital theory, South Africa has, like many developing countries,
invested heavily in education over the last decade (between 5.3% and 5.5% of
the GDP for the period 2009-2010) (World Bank, 2010). If, as human capital
theorists argue, there is a direct relationship between education and
development, this investment should not only have yielded real economic
growth, but unemployment rates should have dropped. This has not, however,
happened: South Africa has one of the highest unemployment rates in the
world, higher even than in most of the emerging economies” (Nieuwenhuis,
2012). Could you find a more recent reference?
1.1 In your own words, Explain the three groups in the labour market
identified by Erasmus (2010). In addition, distinguish the three main areas
in which the correct training policies can make a positive impact on the
eradication of structural employment and on productivity enhancement.
(7)
Erasmus (2010) identified three groups in the labor market: the highly skilled, the
semi-skilled, and the unskilled. The highly skilled group includes individuals with
advanced education and specialized training, while the semi-skilled group has
some level of training but may not have advanced education. The unskilled group
has little to no training or education.
The three main areas in which the correct training policies can make a positive
impact on the eradication of structural employment and productivity enhancement
are:
Training for employability: this includes programs that help individuals gain the
necessary skills and competencies to be employable in the labor market.
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