The Returns of the Education in the Context of Micro-macro Analysis

AbstractThe actual conditions require the information society and the information age. These developments increase the importance of the human capital. At this point, the role of the education is able to overcome information society because the knowledge and the education have been considered as the most effective tool for the economic system of a country. In this respect, the increase of human capital plays an important role to integrate all economic sector's capital.The aim of this article is to describe the returns of education which are based on both individual and social returns in accordance with interactions in the world economy at micro-macro level and to present the results of these interactions. The individual returns of the education are described at micro level and its social views are explained at macro level. While the education is the most important factor of the human capital specifiying the economic development and the growth at the macro level, the education effects on the individual's wage at micro level. Furthermore, we handle the theorical basis of the returns of education