The importance of lifelong learning in creation of social capital - case study: Faculty of Economics in Osijek

Concept of lifelong learning should allow an individual country, i.e. its population, sustainable economic development and certain competitive advantages. Considering the emerging significant changes in the labour market, security and longevity of employment is becoming questionable. Global economy forces us to permanently adapt to changes, to accept the concept of lifelong learning and education, to develop potentials for further advancement. In fact, lifelong learning and education has become a necessity, not an option. Permanent education and improvement is necessary for adapting to changes and requirements of the modern society. Lifelong learning and education, i.e. the intellectual capital, is an essential actuator of economic, social and cultural progress. This paper describes professional development programmes which are organized at the Faculty of Economics in Osijek and which answer to the labour market needs for knowledge and skills necessary to adapt to the market changes. The methodology of the paper is based on relevant literature and case studies. The objective of this paper is to point to the importance of lifelong learning and education as a basic prerequisite for competitiveness in the national labour market, and thereby in the labour market of the European Union (EU).