Education - based approach estimates human capital by measuring such educational indices as literacy rates, enrolment rates, average years of schooling in the population, educational inputs, test scores. The rationale for this method is that these indices are closely related to education and that education in a key element in human capital formation. Of course, human capital encompasses more dimensions, but education is arguably the most important component. The education - based methods of measurement of human capital may be a good way of giving an approximation of how much human capital a region possesses. A good solution seems to be comprehensive mensuration combining both quantitative and qualitative aspects to obtain one research approach.
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