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Managing the implementation of educational programs based on social investment analysis

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The article considers an approach to managing higher education programs based on the analysis of social investments in these programs. Human capital gains are undoubtedly the main benefits intended by social investments in education. But as it is not the only important result by itself, authors systematize inputs and benefits from social investments in higher education programs for all the main stakeholders: organizations that employ alumni, universities, university employees, state and community in general, while special emphasis is placed on inputs and benefits for students themselves and their family members. Educational experience for students is largely influenced by their work values, and vice versa – work values also tend to change and reform under influence of educational experience. Over the medium term, getting the necessary educational experience makes a substantial contribution to human and social capital formation and development. The scientific novelty lies in better understanding the role of social investment evaluation of higher education programs by evaluating inputs/benefits ratio of investments in these programs and the ability to control them in order to maximize human capital gains. Object of the analysis is the connection between work values as a part of human capital, the estimated “fairness” of the inputs/benefits ratio in the eyes of the student, and the effectiveness of approaches to composing and implementing the educational programs. The analysis is based on survey data on what the 1-2-year undergraduate students of pedagogical specialties of the Herzen State Pedagogical University (St.Petersburg, Russia) consider in short-term perspective to be “fair ratio” of inputs and benefits from the higher education they receive. Obtained empiric data shows that these opinions correspond with specific perception of educational experience and specific work values profile. According to their perception of “fairness” of the inputs/benefits ratio we can offer students different sets of activities attuned to their work values profile. Thus, students who consider their inputs/benefits ratio to be “fair”, are more inclined to self-development and social service jobs, unlike the rest of the respondents. By getting more students to understand that their inputs/benefits ratio is “fair” we can help build their human capital, make the educational process more sustainable and increase the social results of higher education programs.

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