Higher Education and the Economy

Higher education, economic recovery and job creation the growing understanding of the integral relationship between the level of higher education and the economy points to an even more profound. It seems that the achievement can actually lead to increase economic growth – and therefore job creation. To understand how this works, the first thing you may consider employment growth in the economic recovery. Naturally, we tend to think of employment as a lagging indicator of recovery. Conventional wisdom goes like this: First, the economy creates jobs and higher education responds to the demand for skills and knowledge of the jobs that people can fill them. As simple and logical as this explanation may seem, not appear to be accurate.

In this recession, there is a growing consensus that economic recovery is hampered by the lack workers with advanced skills and knowledge that in this economy. Put another way, our ability to shift and “skill up” workers to meet changing needs of labor markets is itself a significant factor in economic growth. It is easy to see why this is true. Skilled workers are more productive and productivity gains have been the main driver of economic growth in developed economies for many years. Expert workers are able to innovate – not just in products, but also to improve the range of processes that lead to success in business, government and nonprofit sector. Accounting for Growth show that the vitality of economies – either local or national – not so much about “home runs” (eg as obtaining a new manufacturing plant) than in the skills and knowledge of workers. Talent is the key, and higher education is the lever to their development.

Who, what and how increased achievement means that higher education should focus on the needs of students today – the increasing number of low-income, first generation minorities and mature students constitute what is called the 21 st century students. This is what higher education should serve. 21st Century Students today are much more diverse than at any other time in history. They represent all variety of races and ethnicity’s, all ages, and come from all economic and social levels. They need to develop skills and knowledge in a very wide range of different fields. Since many are working adults, they need to go to college in a very differently from their predecessors.

Logical as this explanation may not seem appear to be accurate. In this recession, there is a growing consensus that economic recovery is hampered by the lack workers with advanced skills and knowledge that in this economy. Put another way, our ability to shift and “skill up” workers to meet changing needs of labor markets is itself a significant factor in economic growth. It is easy to see why this is true. Skilled workers are more productive and have productivity gains been the main driver of economic growth in developed economies for many years. Expert workers are able to innovate – not just in products, but also to improve the range of processes that lead to success in business, government and nonprofit sector. Accounting for Growth show that the vitality of economies – either local or national – not so much about “home runs” (eg as obtaining a new manufacturing plant) than in the skills and knowledge of workers. Talent is the key, and higher education is the lever to their development. Who, what and how Increased achievement means that higher education should focus on the needs of students today – the increasing number of low-income, first generation minorities and mature students constitute what is called the 21 st century students.

Referring to college students today as students of the 21st century is more than an exercise in semantics. We must recognize that are essential to our future. We need to help change the dialogue from a deficit model to a model of growth – one in which all of society sees these students as future leaders, as taxpayers and as full contributors quality of life we ? All appreciate. If students are 21st century higher education should serve, what they need are high-quality degrees and credentials. For too long, the quality of higher education has been defined on the basis of inputs such as financial resources, the workload of teachers and institutional selectivity. The time has come to define the highest quality of education only in terms of student outcomes – specifically, the quality and relevance of qualifications and credentials. Lumina Foundation is to support the development of ways to ensure that learning any academic credential represents is explicit and transparent to all stakeholders. The authorities should be able to allocate resources according to the required results, and employers need to hire graduates with confidence, knowing that students have achieved the results.

If students of the 21st century are those that we serve, and high-quality degrees and credentials are what these students need, then a high productivity of higher education system is how we reach the ultimate goal. If we are to achieve Goal 2025, the changes must be made in the higher education system in the country. As usual simply will not work. For the goal to achieve, and academic institutions, higher education systems and states must contain costs and reallocate their resources to programs that help more students succeed. They should be rewarded not only for students who enroll, but for graduates of high quality programs. It should expand and strengthen the lower-cost, innovative options for the delivery of courses. They also need high-quality systems of data including student data and the results are used constantly to make informed decisions about how to serve students more effectively.
A challenge and an opportunity Achieve the great goal will not be easy. However, the way to achieve the great goal is becoming increasingly clear, and many in higher education are stepping up to the challenge. The Great Recession has focused attention on the need to expand access to the skills and knowledge that represent degrees and credentials. The opportunity to change the rules of the game and create a higher education system capable of producing higher levels of achievement is that we have before us. We have work to do.

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