Determinants of social demand for education - excellence, Microeconomics

Assignment Help:

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.


Related Discussions:- Determinants of social demand for education - excellence

Indirect Utility Function., M.Phil. Admission Test, 2017 Economics Model Qu...

M.Phil. Admission Test, 2017 Economics Model Question Group A Domain Knowledge in Economics Correct answer is as marked in black. Micro Economics 1. Consider a utility function U =

Preference to non-debt creating capital flows, Preference to Non-debt Creat...

Preference to Non-debt Creating Capital Flows: The most important element of strategy has been the paradigm shift in the attitude towards inflow of capital from abroad. Capit

Define the generality of economic theory in modern economics, Define the ge...

Define the generality of economic theory in the modern economics. Generality of Economic Theory An economic theory is based onto assumptions imposed onto economic environmen

Assignment, Differentiate between oscillation and damp cobweb model

Differentiate between oscillation and damp cobweb model

What is utility maximization according to consumer behavior, What is utilit...

What is utility maximization according to consumer behavior? Consumer Behavior: Utility Maximization A foundational hypothesis onto individual behavior within modern econ

Economies of scale, Economies of Scale The reduction in the cost of ea...

Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun

Gasoline rationing, Gasoline Rationing - In the year 1974 and again in ...

Gasoline Rationing - In the year 1974 and again in the year 1979, the government imposed price controls on gasoline. - This resulted in scarcity and gasoline was rationed.

Quantity pricing, 1. Sam Smith owns an internet radio company that has subs...

1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.

Determine the price charged by the profit maximizing cartel, In an industry...

In an industry with two firms, represent the outputs for these single product firms as q 1 and q 2 . The two firms decide to form a cartel and set their levels of output to maxim

Managerial Economics, plot the demand schedule and draw the demand curve fo...

plot the demand schedule and draw the demand curve for the data given for marijuana in the case above

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd