Human capital is the foundation for economic growth. Through education it is possible to enhance the quality of human capital. With help of high quality human capital any country can grow.  

You can check my research  http://dergipark.ulakbim.gov.tr/iisbf/article/view/5000198096/0

Check Robert J. Barro article on education and economic growth. Human capital was referred to as determinant of economic growth. Human capital includes Education

It helps in using knowledge for day to day activities and doing trials and productive work. Dealing with new machines industry agriculture and so on . Finally for economic growth.

Human capital is the foundation for economic growth. Through education it is possible to enhance the quality of human capital. With help of high quality human capital any country can grow.  

Economic research in the late 1970s and early 1980s highlighted this topic, e.g. Gary Becker/Human Capital or TW. Schultz/Investing into People; a lot of students majored in education economics at that time, including me. In GB, a learning that pays initiative has remarkably improved the educational agenda. When does learning pay ? 1=Access to educational/vocational pathways must be relatively open, to those who want to learn and earn. 2=Rigid models of instruction have to be made flexible, enhancing professionalization, on a sound general foundation. 3=A vocational direction, a dual application of practice and science is needed; theory is the aerial line (the map), but walking includes detours (and corrections). 

Educating labor of all kinds results in economic growth and higher wages, i.e. the foundations of the capital-based economy are expanded. Economic policy must safeguard that the economic gain is fairly distributed; otherwise all surplus will flow to a minority of privatizers (e.g. housing costs in metropolitan service regions 'eat' wages up).

Capital is about capital stock (infrastructure, machinery, technologies); it is the product of human labor. The term Human Capital is an unfortunate word coining, in scientific  terms.

Finally, as Aristotle observed, education is Provision for old age; educated people can solve their personal problems better. It is all about literacy and cultural techniques, about unfolding our human potential by using land, labor and capital by the ethical rules of fair-play.

How education affects economic growth?

Education can affect economic growth through the following (not exhaustive list):

Dear Iqbal Thonse Hawalda

I agree with what was said above, regarding How does education affect economic growth?

In summary:

• Education allows for greater social mobility in democratic countries, especially those that are underdeveloped and developing.
• Education is an investment that reverts to countries and governments, with an educated population, more prepared and qualified for positions of high responsibility, with an extra creativity and technological innovation.
• Long-term education provides greater satisfaction and quality of life; and wealth not only monetary and financial, but also intellectual and cultural.

regards

Jose Luis

Estimado Iqbal Thonse Hawalda

Estoy de acuerdo con lo dicho anteriormente, respecto de ¿Cómo afecta la educación al crecimiento económico? 

En síntesis:

• La educación permite una mayor movilidad social en países democráticos, especialmente en los que están subdesarrollados y en vías de desarrollo.
• La educación es una inversión que revierte a los países y gobiernos, con población educada, más preparada y calificada para puestos de alta responsabilidad, con un extra en creatividad e innovación tecnológica.
• La educación a largo plazo, proporciona mayores satisfacción y calidad de vida; y riqueza no solo monetaria y financiera, sino también intelectual y cultural.

Saludos

José Luis

"Knowledge is Power". The Education is the foundation for Knowledge which in turn empowers the Human Capital and Economic Growth.... 

Dear Dr. Iqbal Thonse Hawaldar  , You can visit the attached sites below

http://educationnext.org/education-and-economic-growth/

https://ideas.repec.org/a/bla/reviec/v17y2009i3p602-614.html

http://hanushek.stanford.edu/publications/education-and-economic-growth

Education is an investment that increases capacity to produce and lowers the unit cost of production. In my early career the return on investment was enormous, while being difficult to achieve. In USA the return on investment is still reasonably good, but decreasing and trending toward becoming impossible to achieve. It is not a stable system now.

One outstanding example is the profession in playing traditional organ music. Supply and demand rule doesn't work in USA, because the potential employers are not able to pay the extreme cost increase of education. The profession may disappear unless foreign imports are available at lower cost.

I agree with the statement of Iqbal Thonse Hawaldar

Human capital is the foundation for economic growth

thanks

Education positively affects economic growth. Education is the pillar of economic growth. That is why popularly said that " If you want to destroy economy, then first destroy education system".

"One Book, One Pen, One Child, and One Teacher can Change the WORLD" Malala Yousefzai

The growth and progress of education increases knowledge and information, which is reflected in improved factors of production. Education increases human capacity to increase production and achieve high rates of economic growth. For example, Japan, despite its natural resources and insufficient capital, has reached the stage of self-starting and high growth rates, due to the impact of education and its role in the Japanese economy.

ِAgree with Dr.Han Ping Fung.

Education affects economic growth by improving the human capital of people thereby translating into good standard of living,hence overall the GDP

Very good question, dear Dr. Iqbal,

In so many ways, but especially augmenting human capital and productivity.

Considering the Cobb-Douglas model, GDP = A * (K^0,3 * L^0,7) where

A = TFP - Total factor productivity

K = Capital

L = Labor

An increment in productivity has a direct (and enormous) impact on GDP growth.

Best regards,

AH

It depends on what is taught and practiced.

Education in a democratic system when considering an investment and not an expense, favors social mobility, professionalization and quality of many activities, jobs and services; and everything together, can improve the economic growth of a state or country.

I agree with Iqbal Thonse Hawaldar assertion... Human capital is the future of any country's economical growth

Education is the backbone of all successful economic activities.Therefore,it plays a vital role in economic development of a country.

Education is the driving force behind economic growth since mere reliance on natural resources and money has not always been successful. Education provides us with useful guidelines to exploit human power, resources, and money for boosting production, employment and economic growth.

Best regards,

R. Biria

thanks dr Iqbal for recommendation.