Research on externality economic evaluation of China's education and training industry based on cognitive perspective

As a key industry promoting the transformation of the labour force and proving labour cognitive level, education and training has strong economic externality with positive external effects on socio-economic development according to many economists. However, the research on the economic evaluation of education and training industry is very limited. From the Western economics perspective of externality, this paper analyses education and training industry on the basis of the important role of human capital in China's economic transformation. The difference between education training's spillover effect and the relative marginal production factor's productivity is calculated by using the fidelity model. In this way, labour cognitive level can be quantified. The more people who receive education training, the more they can promote the economic efficiency of enterprises, and the more they can promote the harmonious development of the entire society and economy. Education and training industry has a positive externality effect that can improve labour cognitive level.