Are Average Wages and Qualification of Work

Only available on StudyMode
  • Download(s) : 86
  • Published : December 2, 2012
Open Document
Text Preview
force co-integrated

ARE AVERAGE WAGES AND QUALIFICATION
OF WORKFORCE CO-INTEGRATED?

By
Kanwal Ann (11372)
Ali Faisal (11737)
Amar Lal (11779)
Aukash Kumar (11942)
Ahmed Raza (11711)
Danish Feroz Khan (6849)

A thesis submitted to
Iqra University Research Centre (IURC)
at Iqra University,
Main Campus, Karachi.

NOVEMBER, 2012

ACKNOWLEDGEMENTS
Encouragement and support from many people have helped us in the completion of this thesis report. First and foremost, our greatest thanks to Dr.Imitiaz Subhani for his assistance and valuable guidance throughout the research. His intellectual supervision made this academic research more interesting. We would like to thank the Iqra University Research Centre (IURC) for the assistance. Our deepest gratitude is to Mr. Furqan, Research Assistant at IURC, for his assistance at times when we had hit the bottleneck. We would like to express our appreciation to our families for their encouragement and support. Co-operation and support throughout this period by all members of the group is appreciated by each of us.

ABSTRACT
The study was conducted to find out the relationship between two different variables namely average wages and qualification of workforce. Technological changes in environment also forces people to educate, in order to get better wages. Research shows an educated person can easily produce a ‘Fit’ when he or she encounter with dynamic environment. This ability to adjust, give them an edge over uneducated person. The data of past seventeen years of qualification and averages wages was taken from Pakistan Institutes of Development Economics. The data of average wages was sub divided into averages real and nominal wages. In order to find out the relation among variables a test of Johansen Co-integration was run using Eviews software. Result showed that there is high co-integration between the studied variables and average graduated person receives more job opportunities than of less qualified person.. In general, education is considered as investment which pays off in terms of better wages (returns).

TABLE OF CONTENTS
S. NO.| DESCRIPTION| PAGE NO.|
1| ACKNOWLEDGEMENTS| ii|
2| ABSTRACT| iii|
3| LIST OF TABLES| v|
4| LIST OF FIGURES| vi|
5| CHAPTER 1: INTRODUCTION| 1|
 | 1.1 Overview|  |
 | 1.2 Problem Statement|  |
 | 1.3 Hypothesis|  |
 | 1.4 Definitions|  |
6| CHAPTER 2: LITERATURE REVIEW| 4|
7| CHAPTER 3: RESEARCH METHODS|  13|
 | 3.1 Sample Size|  |
 | 3.2 Method of Data Collection|  |
 | 3.3 Research Model Developed|  |
 | 3.4 Statistical Technique|  |
8| CHAPTER 4: RESULTS|  14|
 | 4.1 Findings and Interpretation of Results|  |
 | 4.2 Hypothesis Assessment Summary|  |
9| CHAPTER 5: CONCLUSION, DISCUSSIONS |  16|
 | AND IMPLICATIONS|  |
 | 5.1 Conclusion|  |
 | 5.2 Discussions|  |
 | 5.3 Implications|  |
10| References| 19|
11| Appendix| 21|

LIST OF TABLES
S. NO.| TABLES| PAGE NO.|
1| 4.1 Unrestricted Co-integration Rank Test|  20|
2| 4.2 Hypothesis Assessment Summary|  21|

LIST OF FIGURES
S. NO.| FIGURES| PAGE NO.|
1| 3.1: Model depicting co-integration between | 19|
 | average wages and qualification|  |

CHAPTER 1: INTRODUCTION
1.1 Overview
Education is termed as multipurpose investment, which is considered to pay off in different forms. A common belief is that, rise in education level might increase the returns. That is why policy makers are demanding heavy budgets for schooling. This study help policy makers to design societies’ policies in a way that general public can get best advantage of their investment on education. As, both wages inequality and education are matter of concern for policy maker. Furthermore, this study focus on returns to education. Some people are unaware to the abilities hidden within them, and...
tracking img