Labor Economics Series Investasi Sumber Daya Manusia Andri Wijanarko 1
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
Pendidikan Mencari jenjang pendidikan lebih tinggi? SMP SMU SD Lulus SMU 3
Pasca SMU Menikah Bekerja Kuliah 4
Mengapa Kuliah? Alasan Disuruh orang tua Ekspektasi pendapatan Ikut-ikutan 5
Human Capital Definition Unique set of abilities and acquired skills to entering labor market. Assumption Maximizes the present value of lifetime earnings 6
HIGHEST GRADE COMPLETED (USA 1996 - 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 18.3 33.6 17.3 7.2 15.8 7.8 18.1 18.4 17.2 25.7 46.9 31.9 35.1 33.9 35.1 26.0 17.4 17.3 17.3 18.8 13.2 6.6 7.8 7.3 6.7 3.6 16.4 15.1 16.1 10.0 6.6 9.5 6.2 8.1 3.6 2.6 7
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$ 17.430 US$ 24.248 US$ 29.096 US$ 46.552 8
Present Value Keputusan Investasi : Gain antara Current Cost dan Future Returns Fakta : terdapat perbedaan nilai antara saat ini dengan yang akan datang 9
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 10
Present Value The quantity Present Value (PV) tells us how much needs to be invested today in order have y dollars next year Period 0 1 2 3 4 5 Value 100.000 110.000 121.000 133.100 146.410 161.051 11
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 12
Age-Earning Profile Upah U KUL U SMU 18 22 65 Usia - U 13
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 14
Present Value of Age-Earning Profile Present Value lulusan SMU (bekerja usia 18-64 th): PV SMU w SMU w w... w SMU SMU SMU ( 1 r) 2 (1 r) 46 (1 r) 15
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... 4 5 46 ( 1 r) (1 r) (1 r) Penghasilan Setelah Melanjutkan Pendidikan 16
Present Value of Age-Earning Profile Contoh : Asumsi : worker hanya bekerja selama 2 tahun Earning lulusan SMU : Rp 100.000 100.000 PV 100.000 SMU 1 r 17
Present Value of Age-Earning Profile Bila melanjutkan pendidikan 1 th, kemudian bekerja dengan earning Rp 250.000 dan biaya pendidikan Rp 40.000 250.000 PV 40.000 KUL 1 r 18
Present Value of Age-Earning Profile Bila Interest : 5% maka : PV SMU PV KUL 100.000 100.000 100.000 95.238 195.238 1 0,05 250.000 40.000 40.000 238.095 198.095 1 0,05 Karena PV SMU < PV KUL : Worker melanjutkan pendidikan 19
Present Value of Age-Earning Profile Bila Interest : 10% maka : PV SMU PV KUL 100.000 100.000 100.000 90.909 190.909 1 0,1 250.000 40.000 40.000 227.273 187.273 1 0,1 Karena PV SMU > PV KUL : Worker tidak melanjutkan pendidikan 20
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 21
The Wage-Schooling Locus Wage-Schooling Locus menggambarkan tingkat upah yang dibayarkan employer untuk tingkat pendidikan tertentu. Ditentukan oleh juga equilibrium pasar (Supply & Demand) 22
The Wage-Schooling Locus 28.000 25.000 23.000 20.000 Dollars 12 13 14 18 Years of Schooling 23
Rata-rata Upah Pekerja Pria Th. 2005 1.800.000 1.717.029 1.600.000 1.400.000 1.446.329 1.200.000 1.204.205 1.000.000 800.000 600.000 400.000 896.538 332.925 434.955 521.409 640.983 731.785 956.579 979.182 200.000 0 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 24
Rata-rata Upah Pekerja Wanita Th. 2005 1.400.000 1.200.000 1.000.000 998.390 1.060.401 1.207.982 800.000 600.000 634.378 453.083 475.690 676.002 769.514 400.000 200.000 187.142 224.856 290.716 0 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 25
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. 26
The Marginal Rate of Return to School Stage 1 Peningkatan $3.000 ($20.000 $23.000) karena menambah waktu pendidikan 1 th (12 tahun menjadi 13 tahun). 3.000 Peningkatan : 100% 15% 20.000 27
The Marginal Rate of Return to School Stage 2 Peningkatan $2.000 ($23.000 $25.000) karena menambah waktu pendidikan 1 th (13 tahun menjadi 14 tahun). 2.000 23.000 Peningkatan : 100% 8,7% 28
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 29
The Schooling Decision Rate of Discount r r = MRR r MRR s s Years of Schooling 30
Penduduk usia 15 tahun yang mencari kerja di Surabaya Th.2003 140.000 131859 120.000 100.000 80.000 106910 69276 73968 87014 85404 60.000 40.000 20.000 0 1998 1999 2000 2001 2002 2003 31
Perbandingan Pencari Kerja dan Lapangan Kerja di DKI Jakarta 140.000 135.257 120.000 100.000 80.000 60.000 98.558 79.114 40.000 20.000 16.118 18.055 8.049 0 2000 2001 2002 Kesempatan Kerja Pencari Kerja 32
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 33
See you next time 34