EFFICIENCY OF HUMAN CAPITAL ACQUISITION MECHANISM

The concept of human capital recognizes that not all labor is equal and that the quality of employees can be improved by investing in them. Thus, in the economics of education there arises a necessity to study the mechanism of human capital acquisition. An efficiency of such a process may be perceived from different points of view not only economical but also educational or respecting a standpoint of an individual student. Besides, a choice of solving methods is possible according to a purpose and / or a personal background. Technical efficiency measurement can be done by using a concept of a frontier production function. Production based on the input of capital and labor is a typical, but not the only possible, interpretation. The concept of technical efficiency is briefly summarized as well as a methodology how to compute it in case of cross - section data and panel data. Some case studies related to a topic of school performance with an application of described approach are briefly mentioned.