Human Capital - Prodi Ekonomi Pembangunan · •Entail an initial cost that one ... of one’s...

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Human Capital

Andri Wijanarko,SE,ME

[email protected]

Labor Economics Series

2

Chinese Proverb

Give a man a fish and you

feed him for one day

Teach a man to fish and you

feed him for a lifetime

3

Pendidikan

Lulus SMU

SD

SMP SMU

?Mencari jenjang pendidikan lebih tinggi

4

Pasca SMU

Menikah

Bekerja

Kuliah

5

Mengapa Kuliah ?

Disuruh

orang tua

Alasan

Ekspektasi

pendapatan

Ikut-ikutan

6

Basic Concept

7

Human Capital

Definition

acquired skills to entering labor

market.

• Unique set of abilities and

acquired skills

Assumption• Maximizes the present value of

lifetime earnings

8

Investment

Ehrenberg &Smith :

• Entail an initial cost that one

hopes to recoup over some

periode of time

9

Three Major kinds of Labor Market Investment

Ehrenberg &Smith :

1. Education and Training

2. Migration

3. Search for the new jobs

10


All three investment involve an initial cost, and all three are made in the hope and expectation that the investment will pay off well into the future

11


The Knowledge and Skills a worker has generate a certain stock of productive capital

12


Job search and Migration are activities that incerase the value of one’s human capital by increasing the price (wage) received for a given stock of skills

13

Three Stages of Human Capital Investment

A. Early Childhood

The acquisition of human capital is largerly determined by decisions of others :

• Parental resources and guidances

• Cultural environment

• Early schooling experiences

14


B. Teenagers and young adult

• Full time students in a high school, college or vocational training program

15


C. Entering labor market

• On-the-job training

• Formal traning program

16

HIGHEST GRADE COMPLETED(USA 1996 - Percent of Population in Education Category)

GROUPLess than

high

School

High

School

Graduates

Some

College

Associate

Degree

Bachelor

Degee

Advance

Degree

All

Person18.3 33.6 17.3 7.2 15.8 7.8

Gender

Male

Female

18.1

18.4

31.9

35.1

17.4

17.3

6.6

7.8

16.4

15.1

9.5

6.2

Race

White

Black

Hispanic

17.2

25.7

46.9

33.9

35.1

26.0

17.3

18.8

13.2

7.3

6.7

3.6

16.1

10.0

6.6

8.1

3.6

2.6

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LABOR MARKET CHARACTERISTICS BY

EDUCATION GROUP (ALL-WORKER-1996)

USALess than high

School

High School

GraduatesSome College

College

Graduates

Labor Force

Participation

Rate

60.2% 77.9% 83.7% 87.8%

Unemployment

Rate10.9% 5.5% 4.1% 2.2%

Annual

Earnings US$ 17.430 US$ 24.248 US$ 29.096 US$ 46.552

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Investment : Present Value

• Keputusan Investasi : Gain antara

“Current Cost” dan “Future Returns”

• Fakta : terdapat perbedaan nilai

antara saat ini dengan yang akan

datang

19

Present Value

Present Value allows us to compare payment amount spent and received in different periods

r

yPV

1

Note :

y Future Value

r Rate of Interest

20

Present Value

The quantity Present Value (PV) tells us how much needs to be invested today in order have y dollars next year

Period 0 1 2 3 4 5

Value 100.000 110.000 121.000 133.100 146.410 161.051

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Schooling Model

22

• Workers acquire the skill level that

maximizes the present value of

lifetime earnings

Schooling Model

• Education and other forms of

training, therefor, are valued only

because they increased earnings

Maximizes Utility

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Age-Earning Profile

Upah

Usia

18 65

USMU

22

- U

UKUL

24

• Biaya melanjutkan pendidikan H

• Asumsi : Highly educated more

productive

• Employer membayar wage wCOL

untuk “mengganti” biaya

pendidikan.

• Worker akan melanjutkan

pendidikan bila wHS < wCOL

Age-Earning Profile

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Present Value of Age-Earning Profile

Present Value lulusan SMU (bekerja usia

18-64 th):

462 )1(...

)1()1( r

w

r

w

r

wwPV SMUSMUSMU

SMUSMU

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Present Value melanjutkan pendidikan :

PendidikannMelanjutkaBiaya

KULr

H

r

H

r

HHPV

32 )1()1()1(

PendidikannMelanjutkaSetelahnPenghasila

KULKULKUL

r

w

r

w

r

w4654 )1(

...)1()1(

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Contoh :

• Asumsi : worker hanya bekerja selama 2

tahun

• Earning lulusan SMU : Rp 100.000

rPVSMU

1

000.100000.100

28

• Bila melanjutkan pendidikan 1 th,

kemudian bekerja dengan earning

Rp 250.000 dan biaya pendidikan

Rp 40.000


rPVKUL

1

000.250000.40

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Bila Interest : 5% maka :


238.195238.95000.10005,01

000.100000.100

SMUPV

095.198095.238000.4005,01

000.250000.40

KULPV

Karena PVSMU < PVKUL : Worker melanjutkan pendidikan

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Bila Interest : 10% maka :


Karena PVSMU > PVKUL : Worker tidak melanjutkan pendidikan

909.190909.90000.1001,01

000.100000.100

SMUPV

273.187273.227000.401,01

000.250000.40

KULPV

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• Rate of Interest (rate of discount) berpengaruh terhadap keinginan melanjutkan pendidikan, dapat berupa market rate of interest.

• Rate of Discount also depends on how we feel about giving up some of today’s consumption in return for future rewards.

• Present Oriented Worker higher rate of discount


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The Wage-Schooling Locus

• Wage-Schooling Locus

menggambarkan tingkat upah

yang dibayarkan employer untuk

tingkat pendidikan tertentu.

• Ditentukan oleh juga equilibrium

pasar (Supply & Demand)

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The Wage-Schooling Locus

Dollars

Years of

Schooling12 13 14

20.000

23.000

25.000

18

28.000

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Rata-rata Upah

Pekerja Pria Th. 2005

896.538

332.925434.955

521.409

640.983731.785

956.579 979.182

1.204.205

1.446.329

1.717.029

0

200.000

400.000

600.000

800.000

1.000.000

1.200.000

1.400.000

1.600.000

1.800.000

Rata-

rata

Tdk/B

lm P

erna

h Sek

olah

Tdk/B

lm T

amat

SD

S D

SMTP U

mum

SMTP K

ejur

uan

SMTA U

mum

SMTA K

ejuru

an

Diplo

ma

I/II

Akade

mi/D

ip. I

II

Unive

rsita

s

Sumber : BPS, Sakernas Tahun 2005

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Rata-rata Upah

Pekerja Wanita Th. 2005

634.378

187.142224.856

290.716

453.083 475.690

676.002

769.514

998.3901.060.401

1.207.982

0

200.000

400.000

600.000

800.000

1.000.000

1.200.000

1.400.000

Rata-

rata

Tdk/B

lm P

erna

h Sek

olah

Tdk/B

lm T

amat

SD

S D

SMTP U

mum

SMTP K

ejur

uan

SMTA U

mum

SMTA K

ejuru

an

Diplo

ma

I/II

Akade

mi/D

ip. I

II

Unive

rsita

s

Sumber : BPS, Sakernas Tahun 2005

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The Marginal Rate of Return to School

• Slope of the wage-schooling locus

(w / s) menyatakan peningkatan

earnings yang diterima apabila

melanjutkan pendidikan.

• Menyatakan persentase peningkatan

earnings untuk setiap peningkatan

educational investment.

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Stage 1

Peningkatan $3.000 ($20.000 $23.000)

karena menambah waktu pendidikan 1 th

(12 tahun menjadi 13 tahun).

Peningkatan : %15%100000.20

000.3

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Stage 2

Peningkatan $2.000 ($23.000 $25.000)

karena menambah waktu pendidikan 1 th

(13 tahun menjadi 14 tahun).

Peningkatan : %7,8%100000.23

000.2

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Peningkatan semakin kecil

Stage 1 = 15 %

Stage 2 = 8,7 %


Worker stop schooling bila :

The Marginal Rate of Return to Schooling = Rate of Discount

40

The Schooling Decision

Rate of

Discount

Years of

Schooling

r

MRR

s’

r’

s’’

r = MRR

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On The Job Training

42

On-the-job training merupakan salah satu aspek penting dalam worker’s human capital stock.

Jacob Mincer : OJT memberikan kontribusi hingga separuh dalam proses pembentukan human capital.

On-The-Job Training

43

On-The-Job Training

Worker bekerja untuk 2 periode maka

profit-maximizing (tanpa training) :

r

VMPVMP

r

TCTC

11

21

21

TC Total Labor Cost

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On-The-Job Training

Apabila rekruitment dilakukan dengan

On-The-Job Training maka :

r

VMPVMP

r

wwH

11

21

21

H Biaya training

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On-The-Job Training

GENERAL TRAINING

Skill & knowledge dapat digunakan

di firm lain.

Training period : w1 = VMP1 - H

Posttraining : w2 = VMP2

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On-The-Job Training

GENERAL TRAINING

Firms provide general training, therefor, only if they don’t pay any of the costs.

Wage masa training rendah karena untuk H

Mempertahankan worker : w1 < w2

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On-The-Job Training

SPECIFIC TRAINING

Skill & knowledge tidak dapat/tidak mudah digunakan di firm lain (not portable).

merupakan alternative wage (other firms)

w

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On-The-Job Training

SPECIFIC TRAINING

Firm akan mendapat gain : w2 < VMP2 , namun beresiko worker keluar firm menginginkan jaminan worker tidak keluar dari firm

Bila worker “pays” for the spesific training w1 rendah menginginkan jaminan tidak dikeluarkan dari firm karena skill dari spesific training tidak portable.

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On-The-Job Training

SOLUTION FOR SPECIFIC TRAINING

w < w2 < VMP2

Firm dan worker share the return from spesific training.

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Penduduk usia 15 tahun yang mencari kerja

di Surabaya Th.2003

106910

131859

6927673968

87014 85404

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

1998 1999 2000 2001 2002 2003

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16.118

98.558

18.055

79.114

8.049

135.257

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

2000 2001 2002

Kesempatan Kerja Pencari Kerja

Perbandingan Pencari Kerja dan

Lapangan Kerja di DKI Jakarta

STANDAR KOMPETENSI KERJA

NASIONAL INDONESIA

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http://binalattas.depakertrans.go.id/datin/reportskkni

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Kompetensi Sarjana

ORAL COMMUNICATION

WRITTEN COMMUNICATION

Knowledge of Field Knowledge of Technology

Ability to Work

Independently

Ability to Work in

Team SettingLogical Skill

Analytical Skill

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See you next time…

Human Capital - Prodi Ekonomi Pembangunan · •Entail an initial cost that one ... of one’s...

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