文档介绍：本科毕业论文(设计)
外文翻译
原文:
An Analysis of the Rising Cost of Education in Australia
(extract)
Abstract
Human capital, or a better educated labour force, is a major determinant of economic growth and productivity. However, recent trends in the cost of education in Australia may cause growth and productivity to suffer. For example, during the period 1982-2003 inflation rose on average by per cent per annum, whereas the cost of education grew overall on average by per cent. This has made education a relatively expensive item among Australian households. This pares and contrasts the cost of education in Australia parable economies with the cost of other goods and services embedded in the CPI(Consumer Price Index)basket using the latest available quarterly data. Finally, the major determinants of the rising cost of education in Australia are examined. It is found, inter alia, that over the period 1986-2003 the increasing number of students enrolled at non-governmental primary and secondary schools and the introduction of the Higher Education Contribution Scheme(HECS)were major influences on the rising cost of education, explaining some 98 per cent of variation in the cost of education in Australia over time.
1. Introduction
There is a consensus among economists that human capital plays a substantial role in achieving higher economic growth and increased labour productivity. New growth theories identify the channels through which economic growth occurs and how reform processes can stimulate the rate of investment in physical capital, human capital, technological know-how and knowledge capital. Together these factors exert a sustained and positive effect on the long-run growth of the economy (Rebelo,1991).For instance, in their seminal work Barro(1991)and Barro and Lee(1994)echoed the importance of human capital(or a better educated labour force)as a major determinant of economic growth and productivity. More recently, Valadkhani (2003)found, inter alia, that long