Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Education’

Making Higher Education Pay

Posted by hkarner - 2. Oktober 2015

Photo of Laura Tyson

Laura Tyson

Laura Tyson, a former chair of the US President’s Council of Economic Advisers, is a professor at the Haas School of Business at the University of California, Berkeley, a senior adviser at the Rock Creek Group, and a member of the World Economic Forum Global Agenda Council on Gender Parity.

Photo of Lenny Mendonca

Lenny Mendonca

Lenny Mendonca is a former director of McKinsey & Company.

SEP 30, 2015, Project Syndicate

BERKELEY – Higher education is a great investment, with each additional year of post-secondary education yielding a 10-15% return, on average. For university graduates, that means hundreds of thousands of dollars over a lifetime. Unfortunately, students aspiring to a higher education, especially those from low-income families and underperforming secondary schools, lack the information they need to make wise choices about where to go and what to study to maximize the return on their investment.

In the United States, President Barack Obama’s administration is trying to close that information gap with the College ScoreCard, a free, easily searchable database that offers unbiased information about the performance and costs of US public and private institutions providing post-secondary education. Instead of proposing an overall ranking of institutions based on some composite measure of key indicators, the database offers detailed data covering five broad categories: costs, student debt and repayment, degree completion rates, post-enrollment earnings, and access for disadvantaged students. Den Rest des Beitrags lesen »

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Reading, Writing, and Refugees

Posted by hkarner - 16. September 2015

Photo of Gordon Brown

Gordon Brown

Gordon Brown, former Prime Minister and Chancellor of the Exchequer of the United Kingdom, is United Nations Special Envoy for Global Education.

SEP 14, 2015, Project Syndicate

LONDON – Just days ago, Abdul al-Kader, his four-year-old daughter, Abdelillah, draped over his shoulders, was photographed standing at a dangerous intersection in Beirut, trying to sell biro pens to feed his family. The image of this Syrian refugee family’s plight, tweeted by a Norwegian, Gissur Simonarson, immediately went viral.

Within a day or two, £100,000 ($154,000) was raised to help Abdul, Abdelillah, and her nine-year-old sister, Reem. When asked what he would do with the money, Abdul said he would use it to educate his children and their friends.

The story of Abdul and his children highlights an obvious, if overlooked, truth: Far from seeking to scrounge off Europe, thousands of Syrian exiles are desperate to return home as soon as it is safe. It is sheer desperation that is forcing them to embark on life-threatening voyages.

And they are not alone. An astonishing 30 million children are displaced around the world: two-thirds to other parts of their countries, and the rest forced to flee from their homelands altogether. Den Rest des Beitrags lesen »

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The Education Myth

Posted by hkarner - 1. Juni 2015

Date: 01-06-2015
Source: Project Syndicate


Ricardo Hausmann, a former minister of planning of Venezuela and former Chief Economist of the Inter-American Development Bank, is Professor of the Practice of Economic Development at Harvard University, where he is also Director of the Center for International Development. He is Chair of the World Economic Forum’s Global Agenda Meta-Council on Inclusive Growth.

TIRANA – In an era characterized by political polarization and policy paralysis, we should celebrate broad agreement on economic strategy wherever we find it. One such area of agreement is the idea that the key to inclusive growth is, as then-British Prime Minister Tony Blair put in his 2001 reelection campaign, “education, education, education.” If we broaden access to schools and improve their quality, economic growth will be both substantial and equitable.

As the Italians would say: magari fosse vero. If only it were true. Enthusiasm for education is perfectly understandable. We want the best education possible for our children, because we want them to have a full range of options in life, to be able to appreciate its many marvels and participate in its challenges. We also know that better educated people tend to earn more. Den Rest des Beitrags lesen »

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Asia tops biggest global school rankings

Posted by hkarner - 13. Mai 2015

But we don’t need a reform of our education system in austria, do we? (hfk)

Date: 13-05-2015
Source: BBC

The biggest ever global school rankings have been published, with Asian countries in the top five places and African countries at the bottom.
Singapore heads the table, followed by Hong Kong, with Ghana at the bottom.
The UK is in 20th place, among higher achieving European countries, with the US in 28th.countries ranked schools

The OECD economic think tank says the comparisons – based on test scores in 76 countries – show the link between education and economic growth.

“This is the first time we have a truly global scale of the quality of education,” said the OECD’s education director, Andreas Schleicher.

“The idea is to give more countries, rich and poor, access to comparing themselves against the world’s education leaders, to discover their relative strengths and weaknesses, and to see what the long-term economic gains from improved quality in schooling could be for them,” he said.

overall school rankingsThe top performer, Singapore, had high levels of illiteracy into the 1960s, said Mr Schleicher, showing how much progress could be made.

In the UK, the study shows about one in five youngsters leave school without reaching a basic level of education – and the OECD says that reducing this number and improving skills could add trillions of dollars to the UK economy.

“I think it’s partly a mindset, an expectation. There are plenty of examples of schools that have raised the bar dramatically,” said education minister Lord Nash.

The analysis, based on test scores in maths and science, is a much wider global map of education standards than the OECD’s Pisa tests, which focus on more affluent industrialised countries.

This latest league table, ranking more than a third of the world’s nations, shows how countries such as Iran, South Africa, Peru and Thailand would appear on an international scale.

It shows once again the poor performance of the United States, slipping behind successful European countries and being overtaken by Vietnam. It also highlights the decline of Sweden, with the OECD warning last week that it had serious problems in its education system.
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Rankings: Top of the class

Posted by hkarner - 27. März 2015

Date: 26-03-2015
Source: The Economist
Competition among universities has become intense and international

AS JAMIL SALMI leaves the stage at a Times Higher Education conference in Qatar, he is mobbed by people pressing their cards on him. As a former co-ordinator of the World Bank’s tertiary-education programme and author of a book entitled “The Challenge of Establishing World-Class Universities”, he is the white-haired sage of the world-class university contest. And he is greatly in demand, for the competition to climb the international rankings has become intense.

Higher education in America has long been a strongly competitive business. Students and university presidents alike keenly watch the rankings produced by the US News and World Report. Such rankings encourage stratification. One of the metrics is the proportion of students a university turns away, which encourages selectivity. That in turn encourages differentiation between better and worse universities. The American model is thus quite different from the continental European one, which (aside from France’s grandes écoles) is a lot less selective and more homogeneous. Den Rest des Beitrags lesen »

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Knowledge Isn’t Power

Posted by hkarner - 24. Februar 2015

Date: 23-02-2015
Source: Paul KrugmanKrugman_BBF_2010_Shankbone cc

Regular readers know that I sometimes mock “very serious people” — politicians and pundits who solemnly repeat conventional wisdom that sounds tough-minded and realistic. The trouble is that sounding serious and being serious are by no means the same thing, and some of those seemingly tough-minded positions are actually ways to dodge the truly hard issues.

The prime example of recent years was, of course, Bowles-Simpsonism — the diversion of elite discourse away from the ongoing tragedy of high unemployment and into the supposedly crucial issue of how, exactly, we will pay for social insurance programs a couple of decades from now. That particular obsession, I’m happy to say, seems to be on the wane. But my sense is that there’s a new form of issue-dodging packaged as seriousness on the rise. This time, the evasion involves trying to divert our national discourse about inequality into a discussion of alleged problems with education.

And the reason this is an evasion is that whatever serious people may want to believe, soaring inequality isn’t about education; it’s about power. Den Rest des Beitrags lesen »

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American Schools Are Training Kids for a World That Doesn’t Exist

Posted by hkarner - 20. Oktober 2014

Date: 19-10-2014

Are Americans getting dumber?

Our math skills are falling. Our reading skills are weakening. Our children have become less literate than children in many developed countries. But the crisis in American education may be more than a matter of sliding rankings on world educational performance scales.

Our kids learn within a system of education devised for a world that increasingly does not exist.

To become a chef, a lawyer, a philosopher or an engineer, has always been a matter of learning what these professionals do, how and why they do it, and some set of general facts that more or less describe our societies and our selves. We pass from kindergarten through twelfth grade, from high school to college, from college to graduate and professional schools, ending our education at some predetermined stage to become the chef, or the engineer, equipped with a fair understanding of what being a chef, or an engineer, actually is and will be for a long time.

We “learn,” and after this we “do.” We go to school and then we go to work. Den Rest des Beitrags lesen »

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Business education: Banks? No, thanks!

Posted by hkarner - 13. Oktober 2014

Thanks god they move into the real economy! (hfk)

Date: 09-10-2014
Source: The Economist

For graduates of the world’s leading business schools, investment banking is out and consulting and technology firms are in

“AN INVESTMENT banker was a breed apart, a member of a master race of dealmakers. He possessed vast, almost unimaginable talent and ambition.” So wrote Michael Lewis in his 1989 book, “Liar’s Poker”. Mr Lewis charted the ascent into investment banking of the most talented graduates in the 1980s, a situation that still held true as the financial crisis struck in 2007. Then, 44% of Harvard’s MBAs landed a job in finance; 12% became investment bankers. Yet in the class of 2013 only 27% chose finance and a meagre 5% became members of Mr Lewis’s master race.

The trend is the same at other elite business schools. In 2007, 46% of London Business School’s MBA graduates got a job in financial services; in 2013 just 28% did, with investment banking taking a lower share even of that diminished figure. At the University of Chicago’s Booth School of Business, the percentage of students going for jobs in investment banking has fallen from 30% in 2007 to 16% this year.

Since the crisis, investment banks have culled the recruitment schemes through which they once hired swathes of associates straight from business schools. Instead, they rely more on recruiting the brightest undergraduates, in the belief that it is more productive—and better value—to develop cohorts of junior analysts in-house, rather than those with fixed ideas honed on expensive MBA programmes. Den Rest des Beitrags lesen »

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The Future of Education

Posted by hkarner - 10. Juli 2014

Date: 09-07-2014Spellings CC
Source: The Wall Street Journal
Subject: Margaret Spellings on the Future of Education

The Former Education Secretary Predicts Schools Will Evolve Into a Student-Driven System With No Grade Levels

When I look ahead to the schools of 20 years from now, what I see are institutions that not only will be more diverse, but will in every way look and function differently from the schoolhouses of today.

Ms. Spellings, president of the George W. Bush Presidential Center in Dallas, was secretary of education from 2005 to 2009.

The classrooms of the present will go the way of the banks of old. Just as new technologies allowed us to access banks through ATMs instead of going to the teller in the lobby, education will be revolutionized through ever-expanding technologies and the rapid flow of information.

Those two forces will change the trappings of the system we know now, resulting in a consumer-driven education.

Parents, for one, will have access to the flow of data, allowing them to help their children find the education that best fits them. Buyers, meaning the parents and students, will be in control of the education, selecting from an à la carte menu of options. Gone will be the fixed-price menu, where a student attends a school based upon geography and is offered few alternatives. Students and their parents can take their state and federal dollars and find an education that best suits them.

For many Americans, this revolution will mean home schooling. For others, it will mean accessing coursework online at any time. For all students, this will mean more individualized learning. Den Rest des Beitrags lesen »

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Wealth by degrees

Posted by hkarner - 27. Juni 2014

Date: 27-06-2014
Source: The Economist

The returns to investing in a university education vary enormously

Population with university degreeIS A university degree a good investment? Many potential students are asking the question, especially in countries where the price of a degree is rising, as a result of falling government subsidies. Recent research suggests that the conventional wisdom remains true: a university degree pays handsomely. In America and the euro zone, for example, unemployment rates for graduates are far below average. Yet the benefit of university varies greatly among students, making an investment in higher education a risky bet in some circumstances.

The value of a degree, like so much else in economics, boils down to supply and demand. The gap between average pay for university graduates and those with secondary-school degrees is commonly called the “college wage premium”. When firms are hungry for skilled workers their demand for university graduates grows, and the premium tends to rise. When the supply of graduates grows faster than that of less-educated workers, in contrast, the premium will stabilise or fall.

Though the demand for graduates varies slightly from country to country, the trend across the rich world is clear. For at least a century firms have sought to hire ever more of the best-educated workers. The college wage premium, however, has bounced around, as the number of graduates has not grown so evenly. In America, the big premium graduates earned in the early 20th century melted away in the post-war years as universities churned out ever more of them. In the 1970s things shifted again. The supply of university graduates had been growing roughly five percentage points faster each year than that of high-school graduates; by the 1990s the gap had shrunk to less than two percentage points. The wage premium duly began to rise again.

The share of people attending university was slower to rise in other rich countries but has caught up rapidly in recent decades. Older American workers are much better educated than their peers elsewhere in the rich world, according to data from the OECD, a club of rich countries. Younger Americans are comparatively undistinguished (see chart). Elena Crivellaro, of the University of Venice, notes that from 1990 to 2005 university enrolment rose by almost 50% in Nordic countries and by more than 30% around the European periphery. In America enrolment growth was about 26%.

So rapid was the change in some European labour markets that they became “saturated” with new graduates, reckons Ms Crivellaro. This saturation has combined with generous minimum wages to keep the college wage premium relatively flat in Europe. Graduate premiums rose in the 2000s in France, Ireland and especially Britain, she calculates, but fell in Germany. In 2011, the OECD says, American graduates earned 77% more a year than those who completed secondary school, compared with 57% in Britain, 47% in France and just 25% in Sweden.

Over the course of a working career these premiums add up impressively. Christopher Avery of Harvard University and Sarah Turner of the University of Virginia estimate that between 1965 and 2008 the discounted present value of a college education in America, net of tuition fees, rose from $213,000 to $590,000 for men, and from $129,000 to $370,000 for women in 2009 dollars. Most of the increase occurred before 2000. A number of studies conclude that most of the past generation’s rise in inequality within the American labour force (that is, among all workers, and not just between the top 1% and the rest) is attributable to the rising premium on a college education. Den Rest des Beitrags lesen »

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