Labor Economics Series. Human Capital. Andri Wijanarko,SE,ME.

Transkripsi

1 Labor Economics Series Human Capital Andri Wijanarko,SE,ME 1

2 Chinese Proverb Give a man a fish and you feed him for one day Teach a man to fish and you feed him for a lifetime 2

3 Pendidikan Mencari jenjang pendidikan lebih tinggi? SMP SMU SD Lulus SMU 3

4 Pasca SMU Menikah Bekerja Kuliah 4

5 Mengapa Kuliah? Alasan Disuruh orang tua Ekspektasi pendapatan Ikut-ikutan 5

6 Basic Concept 6

7 Human Capital Definition Unique set of abilities and acquired skills to entering labor market. Assumption Maximizes the present value of lifetime earnings 7

8 Investment Ehrenberg &Smith : Entail an initial cost that one hopes to recoup over some periode of time 8

9 Three Major kinds of Labor Market Investment Ehrenberg &Smith : 1. Education and Training 2. Migration 3. Search for the new jobs 9

10 Three Major kinds of Labor Market Investment All three investment involve an initial cost, and all three are made in the hope and expectation that the investment will pay off well into the future 10

11 Three Major kinds of Labor Market Investment The Knowledge and Skills a worker has generate a certain stock of productive capital 11

12 Three Major kinds of Labor Market Investment Job search and Migration are activities that incerase the value of one s human capital by increasing the price (wage) received for a given stock of skills 12

13 Three Stages of Human Capital Investment A. Early Childhood The acquisition of human capital is largerly determined by decisions of others : Parental resources and guidances Cultural environment Early schooling experiences 13

14 Three Stages of Human Capital Investment B. Teenagers and young adult Full time students in a high school, college or vocational training program 14

15 Three Stages of Human Capital Investment C. Entering labor market On-the-job training Formal traning program 15

16 HIGHEST GRADE COMPLETED (USA Percent of Population in Education Category) GROUP All Person Gender Male Female Race White Black Hispanic Less than high School High School Graduates Some College Associate Degree Bachelor Degee Advance Degree

17 LABOR MARKET CHARACTERISTICS BY EDUCATION GROUP (ALL-WORKER-1996) USA Less than high School High School Graduates Some College College Graduates Labor Force Participation Rate Unemployment Rate 60.2% 77.9% 83.7% 87.8% 10.9% 5.5% 4.1% 2.2% Annual Earnings US$ US$ US$ US$

18 Investment : Present Value Keputusan Investasi : Gain antara Current Cost dan Future Returns Fakta : terdapat perbedaan nilai antara saat ini dengan yang akan datang 18

19 Present Value Present Value allows us to compare payment amount spent and received in different periods PV y Note : 1 r y Future Value r Rate of Interest 19

20 Present Value The quantity Present Value (PV) tells us how much needs to be invested today in order have y dollars next year Period Value

21 Schooling Model 21

22 Schooling Model Workers acquire the skill level that maximizes the present value of lifetime earnings Maximizes Utility Education and other forms of training, therefor, are valued only because they increased earnings 22

23 Age-Earning Profile Upah U KUL U SMU Usia - U 23

24 Age-Earning Profile Biaya melanjutkan pendidikan H Asumsi : Highly educated more productive Employer membayar wage w COL untuk mengganti biaya pendidikan. Worker akan melanjutkan pendidikan bila w HS < w COL 24

25 Present Value of Age-Earning Profile Present Value lulusan SMU (bekerja usia th): PV SMU w SMU w w... w SMU SMU SMU ( 1 r) 2 (1 r) 46 (1 r) 25

26 Present Value of Age-Earning Profile Present Value melanjutkan pendidikan : H H H PVKUL H 2 3 ( 1 r) (1 r) (1 r) Biaya Melanjutkan Pendidikan wkul wkul wkul ( 1 r) (1 r) (1 r) Penghasilan SetelahMelanjutkan Pendidikan 26

27 Present Value of Age-Earning Profile Contoh : Asumsi : worker hanya bekerja selama 2 tahun Earning lulusan SMU : Rp PV SMU 1 r 27

28 Present Value of Age-Earning Profile Bila melanjutkan pendidikan 1 th, kemudian bekerja dengan earning Rp dan biaya pendidikan Rp PV KUL 1 r 28

29 Present Value of Age-Earning Profile Bila Interest : 5% maka : PV SMU PV KUL , ,05 Karena PV SMU < PV KUL : Worker melanjutkan pendidikan 29

30 Present Value of Age-Earning Profile Bila Interest : 10% maka : PV SMU PV KUL , ,1 Karena PV SMU > PV KUL : Worker tidak melanjutkan pendidikan 30

31 Present Value of Age-Earning Profile Rate of Interest (rate of discount) berpengaruh terhadap keinginan melanjutkan pendidikan, dapat berupa market rate of interest. Rate of Discount also depends on how we feel about giving up some of today s consumption in return for future rewards. Present Oriented Worker higher rate of discount 31

32 The Wage-Schooling Locus Wage-Schooling Locus menggambarkan tingkat upah yang dibayarkan employer untuk tingkat pendidikan tertentu. Ditentukan oleh juga equilibrium pasar (Supply & Demand) 32

33 The Wage-Schooling Locus Dollars Years of Schooling 33

34 Rata-rata Upah Pekerja Pria Th Rata-rata Tdk/Blm Pernah Sekolah Tdk/Blm Tamat SD S D SMTP Umum SMTP Kejuruan SMTA Umum SMTA Kejuruan Sumber : BPS, Sakernas Tahun 2005 Diploma I/II Akademi/Dip. III Universitas 34

35 Rata-rata Upah Pekerja Wanita Th Rata-rata Tdk/Blm Pernah Sekolah Tdk/Blm Tamat SD S D SMTP Umum SMTP Kejuruan SMTA Umum SMTA Kejuruan Sumber : BPS, Sakernas Tahun 2005 Diploma I/II Akademi/Dip. III Universitas 35

36 The Marginal Rate of Return to School Slope of the wage-schooling locus ( w / s) menyatakan peningkatan earnings yang diterima apabila melanjutkan pendidikan. Menyatakan persentase peningkatan earnings untuk setiap peningkatan educational investment. 36

37 The Marginal Rate of Return to School Stage 1 Peningkatan $3.000 ($ $23.000) karena menambah waktu pendidikan 1 th (12 tahun menjadi 13 tahun) Peningkatan : 100% 15%

38 The Marginal Rate of Return to School Stage 2 Peningkatan $2.000 ($ $25.000) karena menambah waktu pendidikan 1 th (13 tahun menjadi 14 tahun) Peningkatan : 100% 8,7% 38

39 The Marginal Rate of Return to School Peningkatan semakin kecil Stage 1 = 15 % Stage 2 = 8,7 % Worker stop schooling bila : The Marginal Rate of Return to Schooling = Rate of Discount 39

40 The Schooling Decision Rate of Discount r r = MRR r MRR s s Years of Schooling 40

41 On The Job Training 41

42 On-The-Job Training On-the-job training merupakan salah satu aspek penting dalam worker s human capital stock. Jacob Mincer : OJT memberikan kontribusi hingga separuh dalam proses pembentukan human capital. 42

43 On-The-Job Training Worker bekerja untuk 2 periode maka profit-maximizing (tanpa training) : TC 1 TC 2 1 r VMP 1 VMP 1 r 2 TC Total Labor Cost 43

44 On-The-Job Training Apabila rekruitment dilakukan dengan On-The-Job Training maka : H w 1 w 2 1 r VMP 1 VMP 1 r 2 H Biaya training 44

45 On-The-Job Training GENERAL TRAINING Skill & knowledge dapat digunakan di firm lain. Training period : w 1 = VMP 1 - H Posttraining : w 2 = VMP 2 45

46 On-The-Job Training GENERAL TRAINING Firms provide general training, therefor, only if they don t pay any of the costs. Wage masa training rendah karena untuk H Mempertahankan worker : w 1 < w 2 46

47 On-The-Job Training SPECIFIC TRAINING Skill & knowledge tidak dapat/tidak mudah digunakan di firm lain (not portable). w merupakan alternative wage (other firms) 47

48 On-The-Job Training SPECIFIC TRAINING Firm akan mendapat gain : w 2 < VMP 2, namun beresiko worker keluar firm menginginkan jaminan worker tidak keluar dari firm Bila worker pays for the spesific training w 1 rendah menginginkan jaminan tidak dikeluarkan dari firm karena skill dari spesific training tidak portable. 48

49 On-The-Job Training SOLUTION FOR SPECIFIC TRAINING w < w 2 < VMP 2 Firm dan worker share the return from spesific training. 49

50 Penduduk usia 15 tahun yang mencari kerja di Surabaya Th

51 Perbandingan Pencari Kerja dan Lapangan Kerja di DKI Jakarta Kesempatan Kerja Pencari Kerja 51

52 STANDAR KOMPETENSI KERJA NASIONAL INDONESIA 52

53 Kompetensi Sarjana Logical Skill ORAL COMMUNICATION Ability to Work in Team Setting Knowledge of Field Knowledge of Technology Ability to Work Independently WRITTEN COMMUNICATION Analytical Skill 53

54 See you next time 54