Determinants of social demand for education - excellence, Microeconomics

Determinants of Social Demand for Education - Excellence

Apart from the three considerations identified by Prof. Musgrave for public investments in education and discussed above (viz. equity, economies of scale and externalities), there is an important perspective from which state investments, especially in the field of higher education and research become imperative and that is ‘excellence’. In fact, concern for pursuit of excellence in higher education and national development prompted the United States to set up a commission on higher education with Mr Bell, Secretary of State for Education, as its Chairman in 1981.

The Commission submitted its report entitled ‘A Nation at Risk’ in 1983 wherein it identified the declining standards in higher education. A large number of articles on excellence in education appeared in several leading educational journals following the publication of this report. Excellence in national life in the fields of science and technology, defence, industrial production, agriculture, trade and business cannot be achieved in a vacuum. It is a subtle and complex process that should begin at lower levels of life with education and later run through the whole of formal and non formal systems of learning.

Research and dissemination of knowledge is integral to this effort. Private enterprise will definitely spend on research and development. But this will be on such programmes which are of direct relevance to the stepping up of the quality/profits of their products. They may hardly display interest, with some honourable exceptions, for research in ‘Pure Sciences’. Hence, pursuit of excellence and creativity is another factor which goes to determine public investments in education.

Posted Date: 12/17/2012 4:36:44 AM | Location : United States







Related Discussions:- Determinants of social demand for education - excellence, Assignment Help, Ask Question on Determinants of social demand for education - excellence, Get Answer, Expert's Help, Determinants of social demand for education - excellence Discussions

Write discussion on Determinants of social demand for education - excellence
Your posts are moderated
Related Questions
Question: (a) With the help of diagrams, explain how the price and quantity demanded or supplied of fuel will change under the different scenarios: (i) Consumers expect a fu

A monopolist faces the inverse demand for its output: p = 30 – Q The monopolist also has a constant marginal and average cost of $4/unit. The government is seeking ways to collect

Elimination of waste - Stock Management Here is a definition of the elimination of waste: Anything other than the minimum amount of equipment, material, parts and working t

Suppose scientists discover that eating soybeans prevents cancer and heart disease

how to estimate a regression model that tests for higher ability individuals get a greater return from schooling

The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, h

Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci

DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BEHAVIOR WHERE THERE IS CHANGE IN PRICE OF ONE GOOD GIVEN TWO GOODS

how do you calculate opportunity cost

If Coolest IceCream ice cream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should Coolest IceCream do to maxim