“Over the years the Fiji National University (FNU) has continued to implement go
ID: 1139503 • Letter: #
Question
“Over the years the Fiji National University (FNU) has continued to implement government intervention approaches towards active labor market policies through labor market training. As a pre-graduation requirement a student must undertake a work attachment (or apprenticeship) with one of FNU’s public/private sector partners on a minimal allowance. The work attachment requires various degrees of assessment to identify the student’s work readiness and competency levels”. Using the above information, construct an essay to evaluate and discuss the following:
Impact of labor market training requirements on students.
Potential policy implications on Fiji’s labor markets.
Explanation / Answer
This initiative by Fiji govt. to make sure that students undergo a apprecticeship is part of supply side policies- Inteventionist based supply side policy. In this policy main focus is on building skilled human capital that will contribute positively to increase long run aggregate supply. This will make sure that economic potential increases in an economy and also steady economic growth without inflationary levels.
This is an excellent initiative by Fiji National University which aims to achieve following shrt term and long term objectives:
Short term objectives:
1. Make students industry ready
2. Provide information to young students about working of firms.
3. Inculcate enterprise among young students.
4. Provide some income to make them understand value of work.
5. Reduce juvenile crime.
Long term objectives:
1. Increase exports by making quality products.
2. Reduce unemployment in economy
3. Meet domestic demand without relying on imports.
4. Encourage domestic industries and also attract direct investment by providing skilled labours.
This policy however, has certain drawbacks too.
1. This policy aims at compulsory training and does not encourage basic freedom of choice of occupation.
2. Wage paid is minimal and may not encourage students to participate actively.
3. Compulsion may lead to lack of interest and loss of intellect.
This is a good initiative but success needs an unbiased, objective and independent analysis.
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