Impact of Education on the Economic Growth of United States

By

ACKNOWLEDGEMENT

I would like to thank my supervisor for supporting me throughout my project and giving his valuable suggestions. Finally thanks to all my friends and family for their utmost support and inspiration.

DECLARATION

I, (Your name), would like to declare that all contents included in this dissertation stand for my individual work without any aid, & this dissertation has not been submitted for any examination at academic as well as professional level previously. It also represents my own views & not essentially the ones associated with university.

Signed __________________ Date _________________

ABSTRACT

The research study is based on the analysis of economic growth that is affected by the education in the United States. The research study will take into account the data for the literacy rate for the past 30 years. The research is focussed on the relationship between the education and its impact on the economic growth. The impact of education on the economic growth can be checked through various factors that affects the economic conditions of the countries in different manner. The research study will be taking into account different perspective of the economic growth and its effects on the country. However, the main focus of the research study will remain on the economic growth of the United States and impact of education on it.

The United States has a large economy that is based on different sectors. These sectors are based on the industries that are mainly dependent on the human capital. The level of education is an important consideration for enhancing efficiency of the human capital in both the developing and developed countries of the world. The developed countries like the United States and other have been special attention to their education systems. The education system has been playing important role in the enhancement of the economic growth of these countries.

The economic growth can be enhanced by increasing the efficiency of the human capital that can only be done by the effective education system. The economy of the United States is one of the countries that have been emerged as the most powerful economies within the whole world. It has been made possible through the adoption of the valuable education system that has helped its population in making invention and innovation in its previous heritage of knowledge. This has given them great opportunity to build the future of their country and their generations.

TABLE OF CONTENTS

ACKNOWLEDGEMENTii

DECLARATIONiii

CHAPTER 1: INTRODUCTION1

Background of the Research Study1

Objectives of the Research Study3

Significance of the Research Study5

Rationale of the Research Study5

Research Questions6

CHAPTER 2: LITERATURE REVIEW7

Theoretical Framework7

Economic Growth8

Classical and Neoclassical Growth Theory8

Process of Economic Growth9

Human Capital10

Human Capital for Economic Growth12

Impact of Education on Economic Growth13

Returns to Education in Labour Economics14

Factors Affecting Teachers Retention Rate in U.S Education System15

Education and Growth in Macro Literature18

Role of Human Capital18

CHAPTER 3: METHODOLOGY20

Introduction20

Aims of the Research Study20

Method of Analysis22

Research design22

Rationale for a Qualitative Study23

Rationale for a Quantitative Research24

Analysis and Conclusion25

Instrument for data collection25

Philosophical Framework or Paradigm26

Literature Review of the Study27

Underlying assumption28

Possible alternative to your proposed ...