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The transition of modern economy to the economy basedon knowledge and information makes human capital oneof the main components for economic welfare. As onecan understand the increase of human capitalimportance makes vocational and tertiary educationmore and more significant. Many European countriescarried out a number of reforms in their educationsystems and implemented the statements of Bolognadeclaration. This book, therefore, considers howeducational reforms and some other economic andsocial factors can influence human capital. It hastwo parts: a theoretical and an analytical one. Inthe theoretical part importance of human capitalinvestment, human capital theory and educationalreforms in Spain and Estonia are described. Theanalytical part presents the analysis of differentfactors that could influence human capital in thesecountries. This book can be useful for those whostudy or research education (policy, planning) andsocial economy as well as for anyone who may beinterested in it.