Development of Strategies for the Production of Bachelor Degree’s Social Science Graduates: An Analysis of Rate of Return on Investment
Keywords:Development Strategies, Higher Education, Rate of Return on Investment
Return to investment in education based on human capital theory has been estimated since the late 1950s. This paper reviews the concept of the profitability of investment in higher education and enumerates the various techniques that have been used in the literature to estimate the rate of return to investment in higher education. The various estimating techniques are illustrated by using bachelor degree‘s social science graduates survey data from private organization in stock exchange of Thailand for designing higher education policy. This paper reports bachelor degree’s graduates estimates of private rate of return in social science majors consist of Economics, Laws, Politics, Business Administration and Educations. This paper also interviews the specialists in social science majors, top management executives and human resource manager in private organization in stock exchange of Thailand for development in social science graduate production strategies.
The results of interviews from specialists in social science majors, top management executives and human resource manager in private organization in stock exchange of Thailand with the analysis concluded the way to improve social science bachelor degree graduate returns consisting of 1) Improve the important skill consists of international language, computer literacy, creativity idea, competitiveness development. 2) The specialists and human resource manager has recommended the graduate to test the knowledge or Certificates Graduate that is recognized by most employers to enhance competitiveness, including English language skills (TOEIC, TOEFL, IELT) or professional knowledge of the Finance (Single License, Derivative License, CFA, CPA) 3) Universities should Guidelines to enhance the recruitment of graduates. The knowledge and training to provide graduates with the skills or certificates that are accepted by most employers to enhance their competitiveness in the labor market.