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The Role of Education in Organization and Development of Economics in Azerbaijan

Author

Listed:
  • Elchin Suleymanov
  • Anar Eminov
  • Yadulla Hasanli
  • Anar Mirzayev

Abstract

There have been different views on the subject since the emergence of economics. As economic science develops, approaches to its subject have also changed. In modern times, the economy is regarded as a science that studies the lawfulness and legitimacy of the effective use of limited resources so as to meet the endless needs of people (Lawrence et al., 2001). Every society must have knowledge to be able to answer three main questions underlying the organization of economics such as, What goods should be produced being aware of limitation of each community resource? How to produce it? and for whom? The organization of the economy that meets these three questions is related to education. Future development of social institutions in developed countries depends on qualitative education. Along with education; there is also a great way of managing human capital. In this article are analyzed the role of education in organization and development of economics in Azerbaijan.

Suggested Citation

  • Elchin Suleymanov & Anar Eminov & Yadulla Hasanli & Anar Mirzayev, 2018. "The Role of Education in Organization and Development of Economics in Azerbaijan," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(2), pages 45-50, June.
  • Handle: RePEc:khe:scajes:v:4:y:2018:i:2:p:45-50
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    Cited by:

    1. Sugra Ingilab Humbatova & Sugra Ingilab Humbatova & Natig Gadim-Oglu Hajiyev, 2019. "The role of spending on education and science in sustainable development," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1704-1727, December.

    More about this item

    Keywords

    Education; economic development; Azerbaijan; managing human capital;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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