1Research Scholar, Department of Business Administration, P.S.G.R. Krishnammal College for Women, Coimbatore, India
2Associate Professor, Department of Business Administration, P.S.G.R. Krishnammal College for Women, Coimbatore, India
Online published on 18 March, 2021.
Fair distribution of benefits of vocational education among different sections of the societies is evident in the Colleges of Technology in Oman which is in congruent with the government's welfare policy towards its citizens. The paper reviews the policies and practices of vocational education in Oman with reference to the ‘merit goods’ concept of Economics. This paper analyzes the perspectives of different authors on the demarcation of ‘merit goods’ and ‘public goods’ and concludes that education in Colleges of Technology falls into the category of ‘merit goods’. ‘Merit good’ policies engender insufficient preferences among the beneficiary students towards the utility and potentials of education, which slow down the rate of human capital formation in the economy. The paper agrees with the contention that Economics alone is insufficient to address the issue arising out of merit goods. The paper further proposes that the educational institutions shall introduce interventions to modify the preferences of beneficiary-students in order to enhance the rate of human capital formation in the country.
Human Capital, Vocational Education, Beneficiary Producer, Merit Goods, ‘Recruiting’ Higher Education Institution, ‘selecting’ Higher Education Institutions
