Education : My child is better than yours

Thanks to some serious policy bungling in the UK, higher education is all the rage at the moment. As this column has pointed out time and again, higher education and health care are the two exceptions to the rational demand theory. Both are driven by emotional factors and some investments in higher education are now taking the shape of an asset bubble.

While a misguided choice architecture has now forced the British Government to revise their higher education fee schedule, the sector holds broader concerns for the future. There is a serious mismatch between demands for certain skills by industry and supply by universities. There is a global glut of entry-level Accountants, alongside Business and Arts graduates. The employment landscape has shifted dramatically with a dispersion of demand coming from skilled technical and engineering jobs (in the mining and manufacturing sectors as an example, which do not require a university education) and highly skilled engineering professions within electrical and civil disciplines. Scientists (both life and physical) are perhaps the most important graduates in society who go unrewarded.

The global glut of non-technical graduates (for the lack of a better word to group these individuals) has seen a dramatic plunge in starting salaries in real terms for most white collar professions. When coupled with increasing tuition, higher education beyond a handful of global universities, is looking extremely unattractive at the moment. Most graduates over the last two years are either unemployed or “under” employed according to statistics provided by the Organisation for Economic Co-operation and Development (OECD). This is felt even in Australia, which by most measures is the best performing advanced economy in the world. Surveys show 30% unemployment amongst all graduates, while a further 35% report being underemployed. This result is attributed to the patch-work Australian economy, where non mining related companies are struggling to keep their businesses open.

Glut When a glut of highly indebted graduates with the wrong kinds of skills is unleashed on a struggling world economy, the results aren’t pretty. The solution to this problem won’t come from the higher education sector on count of the perverse incentive structures in place for these providers. A recent study in Australia showed that a handful of the most popular courses by international students drove most of the profit and cross subsidises the entire university system. These courses were management, business studies (commerce) and information technology. The most popular courses (read: profitable for providers) are becoming inversely correlated with job opportunities, and offer decreasing benefits to society.

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Ras Al Khaimah to get Swiss smart power grid
Ras Al Khaimah to get Swiss smart power grid

Maher Kayal, a professor of electrical engineering and analog circuits who works in the Electronics Laboratory at Ecole Polytechnique Fédérale de Lausanne (EPFL), has already managed to develop hardware for managing a network 1000 times more quickly



Education : My child is better than yours

of demand coming from skilled technical and engineering jobs (in the mining and manufacturing sectors as an example, which do not require a university education) and highly skilled engineering professions within electrical and civil disciplines.



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Medical, purchase microsoft office for students Boating, Industrial, Defense, Aerospace, Diving, Marine and Communications are just starting a collections department, or a black electrical tape carefully. Bringing things into perspective, you actually



Amnesty: Another 449 ex-militants for overseas training

Dubai for educational training. The others in a batch of 50 each would be trained in both South Africa and Malaysia in fields related to welding and crane operations, electrical installation and maintenance as well as auto mechanical engineering.



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On June 29, 2011, Schlumberger announced the planned acquisition from Frank Mohn AS of the remaining equity interest in Framo Engineering AS, a privately owned Norwegian company specializing in the manufacture and sales of products and services related




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Postcolonial challenges in education

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The Arab human development report 2005, towards the rise of women in the Arab world

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