Dynamic optimization model of investment in human capital university teachers

The article considers one of the key factors for sustainable development of the university: the accumulation and development of human capital, implementing policies that encourage people to improve their knowledge, skills and competence. To increase the capitalization of human capital on the one hand, and increase human capital generated financial income to the university, on the other hand, the top management faces the task of optimal investment funds in the human capital of the University in a competitive environment, risks, and resource constraints. We propose a multi-period model, which describes a functional dependence of the mutual influence of human capital of university teachers and additional financial flows to the university as the level of human capital increases. According to the results of modeling and numerical calculations authors propose strategy of investing in human capital for different teachers of the department's strategic goals at the university level.