Labor Economics Series Investasi Sumber Daya Manusia Andri Wijanarko

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

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

Pasca SMU Menikah Kuliah Bekerja

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

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

HIGHEST GRADE COMPLETED (USA 1996 - Percent of Population in Education Category) GROUP Less than high School High School Graduates Some College Associate Degree Bachelor Degee Advance Degree All Person 18.3 33.6 17.3 7.2 15.8 7.8 Gender Male Female 18.1 18.4 31.9 35.1 17.4 6.6 16.4 15.1 9.5 6.2 Race White Black Hispanic 17.2 25.7 46.9 33.9 26.0 18.8 13.2 7.3 6.7 3.6 16.1 10.0 8.1 2.6

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 60.2% 77.9% 83.7% 87.8% Unemployment Rate 10.9% 5.5% 4.1% 2.2% Annual Earnings US$ 17.430 US$ 24.248 US$ 29.096 US$ 46.552

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

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

Present Value The quantity Present Value (PV) tells us how much needs to be invested today in order have y dollars next year Period 1 2 3 4 5 Value 100.000 110.000 121.000 133.100 146.410 161.051

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

Age-Earning Profile Upah UKUL USMU Usia 65 18 22 - U

Age-Earning Profile Biaya melanjutkan pendidikan  H Asumsi : Highly educated more productive Employer membayar wage wCOL untuk “mengganti” biaya pendidikan. Worker akan melanjutkan pendidikan bila wHS < wCOL

Present Value of Age-Earning Profile Present Value lulusan SMU (bekerja usia 18-64 th):

Present Value of Age-Earning Profile Present Value melanjutkan pendidikan :

Present Value of Age-Earning Profile Contoh : Asumsi : worker hanya bekerja selama 2 tahun Earning lulusan SMU : Rp 100.000

Present Value of Age-Earning Profile Bila melanjutkan pendidikan 1 th, kemudian bekerja dengan earning Rp 250.000 dan biaya pendidikan Rp 40.000

Present Value of Age-Earning Profile Bila Interest : 5% maka : Karena PVSMU < PVKUL : Worker melanjutkan pendidikan

Present Value of Age-Earning Profile Bila Interest : 10% maka : Karena PVSMU > PVKUL : Worker tidak melanjutkan pendidikan

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

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

The Wage-Schooling Locus Dollars 28.000 25.000 23.000 20.000 Years of Schooling 12 13 14 18

Rata-rata Upah Pekerja Pria Th. 2005 Sumber  : BPS, Sakernas Tahun 2005

Rata-rata Upah Pekerja Wanita Th. 2005 Sumber  : BPS, Sakernas Tahun 2005

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.

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). Peningkatan :

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). Peningkatan :

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

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

Penduduk usia 15 tahun yang mencari kerja di Surabaya Th.2003

Perbandingan Pencari Kerja dan Lapangan Kerja di DKI Jakarta

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

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