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Advantages:
- It provide planners with useful information about the link between educational and the labour market.
- The issue of trying to produce labour force according to the needs of the economy solves the problem of shortages and oversupply of various type of manpower. This approach hence limits the imbalance of
educational output against the jobs available.
- It is useful tool for holistic planning , macro-planning in the sense that we plan for the whole economy rather than for some particular region.
- It gives a useful guidance on educational attainment of qualification of the labour force highly by the economy thus acts as link between training institution and labour market.
- The approach aims at self-sufficiency in man power resources since it adds in construction of occupational pyramid of labour force.
- The approach assist in maximizing socio-economic growth for two reasons – provides what the society needs and it also avoid wastage of resources on educating surplus labour.
- It gives educators useful guidance on how roughly educational qualification ought to be developed in future.
Disadvantages:
- It tends to confine itself to high manpower and assumes the low level manpower /informal sector of
economy- the unskilled labour force which are also beneficial in driving the economy.
- It sometimes impossible to make accurate requirement in 20-30 yrs to come because many
technological demographic social and political changes affect the quality and quantity of labour force.
- The approach limits education economic ends but know that education system should not only serve
economic ends but also social and political ends.
- It does not address itself to the cost issue in detail on how manpower will be financed but concentrate on projections which are likely to be white elephant in the economy.
- Assumes the consumptions functions of education and concentrate on the investment functions.
raphael answered the question on August 4, 2021 at 05:58
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