Relationship between Education and Economy

Sibel Pekkolay

Abstract: Many developing countries attach great importance to education in order for their countries to reach a certain stage of development, both economically and socially. Today, the productivity of countries is greatly affected by the rate of the qualified labor force. The education of people in a society determines the growth potential of the economy, wage level, and unemployment rate in that society, and also contributes to social peace. The aim of education is to raise a healthy society with a high level of knowledge, both an individual and universal culture. Welfare and happiness of a country; It depends on the people of that country to receive a qualified and continuous education and the knowledge and skills they gain with it and the contribution they can make to economic growth. This imbalance between unlimited needs and limited resources has led to the existence of economics. Increasing the level of education in society increases the production capacity by increasing the quality of labor. An increase in the quality of labor can be achieved through investment in human capital. Therefore, there is a relationship between the increase in the education level of the workforce and economic growth.

Keywords: Education, economy