Analyzing the Education System of Bangladesh Using an Economic Growth Model

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TABLE OF CONTENTS

Topic NamePage No.
Part OneIntroduction
1.1Background of the Study01
1.2Data Sources and Collection Method01
1.3Limitation02
1.4Linking Education with Economic Growth: A Literature Review02 Part TwoEducation and Economic Growth in Bangladesh-Concept and Reality 2.1Human Capital Development08
2.2The Benefits of Education08
2.3The need for Qualitative Improvements in the Labour Force09 2.4Education and Development: Where does Bangladesh Stand?10 Part ThreeThe Education System in Bangladesh
3.1Current Education System13
3.2-3.6Education Scenario and Problems15
Part FourMethodology, Presentation and Analysis of the Model 4.1Deriving the Equation21
4.2The Education Variable22
4.3Analyzing the Impact of Different Level of Education23
4.4Running the Regression Model23
4.5Findings24
4.6Interpretations25

Part FiveBudget Allocation in the Education Sector: An Analysis 5.1Analysis: Budget27
5.2-5.3Findings27
5.4Analyzing the Model with Respect to the Model28
Part SixPolicy Recommendations
6.1Quality of Education30
6.2Retention of Students31
6.3Fostering Vocational Education32
6.4Financing Education33
Part SevenConclusion34

PART One:
Introduction

1.1 Background of the Study:

This study follows the econometric model of a similar study conducted in Taiwan that estimated the importance of primary level education among the labor force in that country. Results showed that primary education indeed had the highest impact in terms of output (GDP). The summary of that article is included in article review section of this report. Using the same production function and structure, we tested this model in the context of our country for its validity and whether it can identify the level(s) of education that has been influencing economic growth in our country the most.

1.2Data Source and Collection Method

1.2.1Data

According to our selected model, we acquired data on the following criteria for the years 1986-1996: GDP (in taka, base year 1984-85)
Number of economically active population
Levels of educational attainment among the labor force
Gross fixed capital formation
Budget allocation for education in different years

1.2.2 Source

Secondary data from the following sources were collected:
DataMeasured inSource
Gross Domestic ProductTakaBBS*
Economically active populationLABORSTA**, ILO
Level of educational attainmentLabor Force Survey, BBS
Gross fixed capital formationTakaBBS, UNSTAT**
Budget AllocationTaka (Millions)BANBEIS
*Several Statistical Yearbooks of Bangladesh Bureau of Statistics **International Labour Office database on labour statistics operated by the ILO Bureau of Statistics ***Statistical division of United Nation

1.2.3Collection method

Several online and printed journals served as the sources of literature review and other theoretical aspects of the report. The sources are cited in both footnotes and bibliography. In order to give us better insights into the educational scenario of Bangladesh, we interviewed some individuals, all having significant expertise in their own field. Our understanding of the Labor Force data was further clarified by the deputy director of Labor Force Division at the Bangladesh Bureau of Statistics. A summary of those interviews are appended at the end of this report.

1.3Limitation

Unfortunately, what seemed to be a straight-forward procedure of selecting the source and collecting the relevant data proved to be a very difficult task in reality. In many occasions the same data (for example the Gross fixed capital formation in year 1995) did not match across all the statistical yearbooks. The most difficult part was obtaining the data on level of educational attainment among the labor force. So far there have been 10 labor force surveys conducted in Bangladesh, out of which only 8...
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