The Model of Human Capital Can Be Used as an Analytical

The model of human capital can be used as an analytical tool for labour supply phenomena and labour demand phenomena. On the supply side, it is used as a tool to determine an individual's decision to invest in education. Explain in intuitive terms this approach of determining whether an individual should obtain a higher degree or certification. No graph is necessary, but you should cover the assumptions which underlie this approach and the major variables which play a role. What implication does this model have for labour supply? Discuss the role of human capital attainment in the demand for labour.