HUMAN CAPITAL DEVELOPMENT STRATEGIES FOR EFFECTIVE PERFORMANCE IN ECONOMICS EDUCATION

HUMAN CAPITAL DEVELOPMENT STRATEGIES FOR EFFECTIVE PERFORMANCE IN ECONOMICS EDUCATION

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CHAPTER ONE

INTRODUCTION

1.1      Background of the study

Economics we all know deals with the human behaviour which can further be explained as the way we earn our living and make choices to satisfy our needs. It therefore concentrates on the research of organizations and the government whose day to day transactions are focused on the production of goods and services in other to satisfy of human needs since economics is has to do with human behavior.  Budhwar (2002).Economics is a social science, just like other science subjects, the procedures or the way things are done in economics is methodological, its analysis is done according to a system, and the validity of its diverse theories can be tested. For this reason, effort has been made to introduce and implement the theoretical basis or aspects of the course with their practical implementations. Economics education is one of the courses that introduces students the major facets of live, equips them on few ethics required for successful work with people and organizations, Budhwar 2012. This course has been introduced by the Comparative Education studyto satisfy the needs of Economics in the new system. Economics education is also known as the study that has to do with economic issues in relation to education. Based on the previous works on correlation between schooling and labor market outcomes for individuals, the area of economics education has grown tremendously to cover all facets with loop holes of education Armstrong 2011.The main reason for the introduction of this course is satisfy the cravings of fortifying students with the basic knowledge and skills that will help them to sincerely welcome the nature of economic challenges in any society. In the light of this ideology, below are the specific aims for the Economics education course; a)Economics education was introduced in schools curriculum to fortify students with the major principles of Economics that is required for successful living and for higher education, b) To equip and reinforce students to be wise, judge metical and productive in the management of scarce resources, c) To encourage students high respect for the seriousness, worthy of labour and their appreciation of economic, cultural and social ethics of our society and d) To help students gain knowledge for the immediate answer to the economic challenges of the society; and the world at large. The importance of economics education to any nation is very vivid and cannot be ignored. It permits leaders and citizens to understand root and branches of economics concepts, principles and also to understand, appreciate and desire to grow the economic situation for their own social good. A good understanding of economics is a must have for good citizenship. The collection, accretion of human capital development strategies is a vital contributor to effective teachers’ performance in economics education, specifically in Imo state. Human capital is a phrase that economists introduced which has to do with the productive skills and technical knowledge of workers, staffs, teachers, employees, etc. It comprises human knowledge, skills, and abilities, values and drives they need to add to their skills to the organization’s goals, Dessler 2012. Economists and business people call these set of people characteristics “human capital” just to point out the importance of employee skills and strengths and the importance for organizations to invest in their people, just as they do in physical capital, in order to be successful. In this era of knowledge economy, human capital has become extremely vital than physical capital when it comes to adding value.

In education, human capital development strategies are most likely to be even more vital to teacher’s performance. Education is a human-capital-intensive enterprise, with around 80 percent of most school divisions budgets spent on staff salaries and incentives. Most of the key methods of learning are controlled and impacted by the staff those teachers that communicate with the students on daily bases. Human capital development strategies are perceived as a major field of study for teachers in the in the education context. The study prepares the leadership and management of any school, specifically the teachers in teaching and attaining the goal of the school. A good number of researchers have conducted and provided proven and well-reasoned insights on HCDS in the educational sector in the recent times; while negligence of the study is a prove in the end of the usage or implementation of productive HCDS in the education sector. (Adu 1998)opined that the knowledge, awareness and application of HCDS as paramount to the smooth functioning of education leaders as it helps to make available a foundation for the development and growth of education systems. Teachers who are perceived to know their onions in HCDS are known to perform better for the development of the organization than the incompetent and unskilled ones (Franekel 2012). In addition, Ayodele(2009) stressed on the fact that the leaders’ knowledge and skills of HCDS help in encouraging the efficiency and efficacy of the staff leads to the enhancement of their organization at large. The idea of utilizing HCDS in the corporate sector to attain the needed objectives has almost the same implication in the education sector, Wichenje (2012). Leaders are therefore needed to be well informed and familiar with the necessary skills needed for productive leadership and management for the growth of their institutions and the wellbeing of the human resource employed.

1.2 STATEMENT OF THE PROBLEM

The poor or nonexistent human capital development of enhancement has led to poor teachers’ performance in the educational sector and has grossly contributed to the poor educational development in Nigeria which has precipitated to the poor academic performance of students across the country. In other for Nigeria to advance educationally, teachers should be effectively trained in other to achieve increased performance and this can only be achieved through examining the strategies for an effective human capital development in the educational sector.The increasing student academic underachievement and narrowing the achievement gap are the challenges the Nation has been facing as she tries to develop talents that would contribute to the economy and ensure educational development. Strategies to ensure adequate human capital development in other to enhance students learning and performance is not entirely a mystery as believed in some quarters.

1.3 OBJECTIVE OF THE STUDY

The major objective of the work is to examine human capital strategies for effective teachers’ performance in economics education in Imo state university. Other specific objectives of the study include the following.

1.   To examine strategies for ensuring improved students learning.

2.   To appraise to prospects of human capital development in educational development.

3.   To examine the relationship between human capital development and effective teacher performance in Nigeria.

4.   To examine the relationship between effective teaching of economics education and national development.

5.   To determine the role of government in enhancing human capital development for effective teacher performance.

6.   To examine the influence of human capital development of teachers on students academic performance/achievement.

7.   To recommend ways of improving teachers performances in Nigeria.

1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher; 

H0: there are no strategies for ensuring improved students learning.

H1:there are strategies for ensuring improved students learning.

H02:there is no relationship between human capital development and effective teacher performance in Nigeria

H2: there is relationship between human capital development and effective teacher performance in Nigeria

1.5 SIGNIFICANCE OF THE STUDY

The study would be of immense importance to the development of education in Nigeria and the improvement of student’s academic performance through improving teacher’s performances as it would reveal the strategies of human capital development in improving student’s academic performance. The study would also greatly benefit to students, researchers and scholars who are interested in developing a further study on the subject matter.

1.6 SCOPE AND LIMITATION OF THE STUDY

The study is restricted to human capital development strategies for effective teachers’ performance in economic educations using Imo state university as a case study.The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study       

b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.

1.7 DEFINITION OF TERMS

HUMAN CAPITAL DEVELOPMENT: Human Capital is asserted to be the most important element of success in business today. Developing human capital requires creating and cultivating environments in which human beings can rapidly learn and apply new ideas, competencies, skills, behaviors and attitudes

STRATEGY: Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. In the sense of the "art of the general", this included several subsets of skills including “tactic

PERFORMANCE:performance assesses whether a person performs a job well. Job performance, studied academically as part of industrial and organizational psychology, also forms a part of human resources management. Performance is an important criterion for organizational outcomes and success

ECONOMICS EDUCATION: Economics education or economic education is a field within economics that focuses on two main themes: 1) the current state of, and efforts to improve, the economics curriculum, materials and pedagogical techniques used to teach economics at all educational levels; and 2) research into the effectiveness of alternative 

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study


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