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Markov Chains Method - Forecasting Tool Of The Structure Of Higher Education Graduates By Groups Of Specializations

Author

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  • Delia, TESELIOS

    (“Constantin Brancoveanu” University of Pitesti, Romania)

  • Mihaela, Savu

    (“Constantin Brancoveanu” University of Pitesti, Romania)

Abstract

The number of graduates in higher education has seen a downward trend in recent years, with significant declines in economic sciences specialization group. The choice of specialization group by future graduates should be made depending on whether the labor market has the requested specialized jobs, this choice showing, in fact, the supersaturation of certain areas. This paper uses the theory of Markov chains to forecast the share of graduates in higher education by groups of specialties. Knowing future trends allow an appropriate educational strategy based on reality and the requirements of the labor market.

Suggested Citation

  • Delia, TESELIOS & Mihaela, Savu, 2016. "Markov Chains Method - Forecasting Tool Of The Structure Of Higher Education Graduates By Groups Of Specializations," Management Strategies Journal, Constantin Brancoveanu University, vol. 31(1), pages 344-353.
    • Handle: RePEc:brc:journl:v:31:y:2016:i:1:p:344-353
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    More about this item

    Keywords

    number of higher education graduates; probability; Markov chains theory; labor market;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • I2 - Health, Education, and Welfare - - Education
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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