Investments in human capital: essence and evaluation of their effectiveness

Abstract

The article considers the concept of "investment in human capital", gives a theoretical and instrumental interpretation of the main components of human capital. A critical and comprehensive analysis of the existing methodological approaches to assessing the effectiveness of investments in human capital was carried out. The existing assessment methods and indicators characterizing the effectiveness of investments in human capital are summarized. A special place is given to education as the main structural component of human capital. It is seen as a self-increasing value based on the growth of the worker's productivity, accompanied by an increase in wages, and property in the form of professional characteristics. The formation of a methodology for assessing the economic efficiency of investment in education at the macroeconomic level is based on a comparison of public investment in education and the average wage in the country. The average salary is considered as a productive indicator of the effectiveness of investments in education.