What Factors Contribute to Cost Increases in Higher Education - Research Paper Example

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What Factors Contribute to Cost Increases in Higher Education

Unlike older days, the global niche has become more and more competitive. It is a race; survival of the fittest. The more skilled and educationally equipped the more chance you have to fight and survive. Catching up with the technology is one way higher education enhance economic development as graduates are better equipped to use new technologies. It is a complete cycle as higher education provides better job opportunities which in turns run the economic engine providing more capital which can be collected back as taxes and used to further improve the framework of higher education. (Bloom et al 2006). Concept that higher education plays an important role in the economic development and institutions can stimulate productivity was first introduced by Theodore W. Schultz. He introduced the idea of Human capital and its link to modernizing economy which flourished into complete Human Capital Research Program influencing many researchers and policy makers. (Teixeira 2006).The nations have long realized the significance of higher education and much has been done to build a solid infrastructure that can extract and polish the skills of an individual. But the capital required to obtain such qualifications is on the rise making it difficult for a middle class family to afford. ...Show more

Summary

Education is, by far, the most important tool for the development of a society. It is a sign of prosperity and serves as a catalyst for any country’s propagating economy.The cost of education lifting high and out of the reach of common man is creating a void that needs to be filled…
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What Factors Contribute to Cost Increases in Higher Education essay example
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