Education is the primary requirement of everyone and people who are planning to acquire the education of higher level have to be prepared for various challenges so that they can get the desired job in the market to make a successful career in their respective fields. Academic…
The educational authorities have raised the minimum education level requirements in the educational institutions and organizations which have created a significant problem in the business world. It has been reported by the U.S. Bureau of Labor Statistics that the graduates completing their education lack the skills and qualifications required for filling a job as they have not been given proper training in their institutions (Lan & Winters, 2011). The cost of education has risen at an accelerating rate as compared to the increase in the financial aids that are provided by the federal agencies.
According to SHEEO (2011), as people have insufficient funds available for covering the costs of college education, the number of graduates completing it has declined in the last few years. All of these factors have raised questions regarding the academic inflation that how lack of federal aids, increase in college/tuition fees, decline in wage increments and rising inflation rate are impacting the quality of college education.
Academic Inflation is described as the process by which the higher education degrees’ value gets inflated; it is the point at which the minimum level of education is required when the level of employment rises. In fact, there is no real need for highly skilled or trained employees for various jobs in the firms (Odland, 2012). As a result of the academic inflation process, the bachelor’s degree value has reached a level where the graduates face difficulty in finding a suitable position in the professional world and they have to acquire degrees of much higher level such as Master’s degrees and PhDs. The primary reason for such a robust growth in the academic field for higher level degrees is an accelerating rate of competition among the peers (Singell & Stone, 2007).
Along with increase in the demand of higher level degrees, the cost of acquiring them has ...
Cite this document
(“Academic Inflation Research Paper Example | Topics and Well Written Essays - 1750 words”, n.d.)
Retrieved from https://studentshare.net/education/550236-academic-inflation
(Academic Inflation Research Paper Example | Topics and Well Written Essays - 1750 Words)
“Academic Inflation Research Paper Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.net/education/550236-academic-inflation.
Simply put, inflation refers to the rise in the prices of goods and services in a given economy for a given period of time. When such a thing happens, it therefore means that each unit of currency in that particular economy buys fewer goods than what it could have purchased initially before the inflation.
There are different economic variables that affect the lives of people. One of those variables is inflation. Inflation can be defined as a persistent substantial rise in the general levels of prices (Dictionary).
Inflation denotes an unfavorable situation in the economy of a nation. On the other hand, wages refer to a form of remuneration offered to an employee by an employer of a particular company in exchange for services rendered.
Consequently, the race for higher education resulted in soaring of tuition fees. Students usually pay these costs from a different number of sources including personal savings, parents’ money, scholarships, student loans and other financial instruments.
It demonstrates the rate at which prices for goods and services rise as purchasing power of the target population falls. It is the duty of the central bank to stop severe inflation, control it for purposes of lowering excessive growth of prices. Most notably, inflation is a major factor in the world economy where it affects economies of scale and factors of productions.
The most reliable measure of inflation levels is the overall consumer index (CPI-U). CPI-U measures the average price of a fixed set or basket of goods and services. Various economies of the world have been experiencing an increasing rate of inflation over the past decade.
Economists term this phenomenon as inflation. Purchasing power of money falls in this period and as a result money buys less than it was buying before. (Lipsey and Chrystal, 2003)
In an ordinary economic cycle, every boom is followed by a
According to the paper findings, high inflation is one of the costs that an economy has to pay for expansion. In order for an economy to grow, there is bound to be a rise in the rate of inflation and the same is the case with the economy of Brazil. The growth in the economy in the recent past has kept the rate of inflation high.
However, research has indicated that grade inflation in different colleges in the United States has lowered the intellectual level and integrity of many college graduates
Evaluation of courses by students is a factor that has
1 Pages(250 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Academic Inflation for FREE!