Often the formula thus obtained was clearer, more comprehensible and more perfect than the equation found in the books of reference. Einstein solved the mathematical and technical problems given to him in the solitude of a sparcely furnished attic on the top floor of his house. The visitng reporter was
surprised: to see only a few books and a few pictures Faraday, Maxwell, Newton neither circles nor triangles. Einstein's only instrument was his head. He needed no books. His brain was his library.
Albert Einstein lecturing in Vienna 1921
The Imagination Imperative
When a reporter interviewed Albert Einstein about his thought process in 1929, Einstein did not speak of careful reasoning and calculations. Instead —
“I believe in intuitions and inspirations. I sometimes feel that I am right. I do not know that I am… [but] I would have been surprised if I had been wrong.
I am enough of the artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
(Jeff Nilson, Saturday Evening Post, 20 March 2010;
Eli Amdur, "Jobs of the Future Today," Forbes,
01 Feb 2021.)
His love of music was absolute:
“‘If… I were not a physicist, I would probably be a musician. I often think in music. I live my daydreams in music. I see my life in terms of music. I cannot tell if I would have done any creative work of importance
in music, but I do know that I get most joy in life out of my violin.'”
Einstein disagreed with the traditional Jewish concept of free will. "I am a determinist. As such, I do not believe in free will. The Jews believe in free will. They believe that man shapes his own life. I reject that
doctrine philosophically. In that respect I am not a Jew… Practically, I am nevertheless, compelled to act as if freedom of the will existed. If I wish to live in a civilized community, I must act as if man is a
Einstein was a born teacher, his patience was infinite. Whenever a question involving a difficult mathematical problem came up, he immediately took up his pencil and covered page after page with the most intricate equations.
He did not refer to a textbook; he worked out such formulas himself.
Some friends and admirers had learned that Einstein had decided to build a summer home and offered him a pricely gift of land, which he declined saying, "I could accept a gift from a community. I cannot accept such a
gift from an individual. Every gift we accept is a tie. Sometimes one pays most for the things one gets for nothing."
Ref.: "What Life Means to Einstein. An Interview by George Sylvester Viereck," Saturday Evening Post, 26 Oct 1929 -
"This creates a system where companies struggle to fill jobs and incur unnecessary costs, all
the while leaving experienced, willing workers out in the cold. Experts who study the phenomenon say it's due, at least in part, to the widening role of technology. “The seeds for degree inflation were planted as the nature of jobs was changing. More and more
automation created jobs that are called the same thing but require different competencies.” "Many listings for such positions now ask for a four-year degree, which only a third of American adults have.
Globally, it’s even more stark. Less than 7% of the world’s population holds a Bachelor’s degree."
The Degree Inflation
The BBC writes: A University of Hawaii had lost interest in the geology degree she was pursuing, left university and went to work as a tour guide in the hospitality industry.
"For the next decade she found herself repeatedly running into the same wall. In spite of great resumé and lots of experience
but no degree she had no change of promotion. She considers herself aa victim of a phenomenon called ‘degree inflation’: the rising demand for bachelor’s degrees in jobs that didn’t always
require one, and probably don’t actually require one now."
"It’s a widespread problem, says Manjari Raman, director of Harvard Business School’s project on Managing the Future of Work. According to a 2017 paper Raman co-authored, “the degree gap
the discrepancy between the demand for a college degree in job postings and the employees who are currently in that job who have a college degree is significant."
"In 2015, 67% of production supervisor job advertisements required a college degree while only 16% of employed production supervisors had one. The people currently doing the work don’t
have degrees, but as they retire or leave their positions their replacements will be expected to."
The world’s academic institutions saw enrolment more than double between 2000 and 2014. In the UK, where degrees are ranked based on academic performance, there’s another dimension to inflation:
students graduating with first-class honours (the highest-rated degree) which skyrocketed from 7% in 1997 to 30% in 2019.
Full article by Kate Morgan on the BBC Worklife 28th January 2021.
"What we are seeing in the Big Data world is that the geeks" who are so smart that they need help to tie their own shoes "are going to own the world."
"It's power in predicting elections. It's power in major-league baseball and the NFL. But its also corporate power," says Geoffrey Garrett (2014), Reliance Professor of Management and Private
Enterprise, Dean of the Wharton School 2014-2020. Staff Article 08 September 2020.
Are the Geeks Going to Own the World ?
The future of the class room involves more experimental learning, interaction in class, while putting text and lecture-type material online.
In demand are skills like programming, big data analysis, artificial intelligence, "supplementing the soft skills of leadership with a data analytics toolkit allowing
leaders to talk to and learn from the 'geeks'."
"There has been a cliché in looking at the business school for quite awhile, that on the one hand there are analysts, and on the other hand there are leaders, and that leaders are all about
soft skills, and the analysts are kind of geeky and are not very good at the soft-skill stuff."
Wood) under a pseudonym to study at Harvard. A forum administrator revealing her identify
was sentenced to 14 years in prison for "picking quarrels and stirring up trouble".
NZ Herald, 2020-06-13.
An MBA in Human Rights Violations
In this paper the name "American Assembly of Chinese Schools of Business" would stand for a recognized world leader for the
accreditation of predominantly American but also Chinese state schools of business a country noted for its cultural genocide of the Uyghurs, incarceration
of over a million of its natives, surveillance by face recognition of its 1.4 billion people, imprisonment and execution of dissidents, censorship of the press,
international treaty violations and suppression of Hong Kong's democracy, the climatic destruction with 30% of the world's carbon emissions coming from its mostly
coal-fired electrical power plants
||all in all a nation run by a guilty apparatus worse than George Orwell's (1949) dystopian social science novel "1984",
under the leadership of a "dictator for life" (The Guardian 2020-02-26),
the son of a former party boss who had become the childhood-victim of the 1966-1976s Chinese cultural revolution, rising to absolute power by embracing its callousness:
Xi Jinping. He sent his only child, a low-key and easy-going girl nicknamed "Xiao Muzi" (Little
The "American Assembly of Chinese Schools of Business", governed from its headquarters in the Southeastern United States, has accredited over thirty university schools of business in P.R. China,
whose Communist party-loyal MBAs are predestined to be the country's dedicated top managers for China's trillions of dollars of foreign investment, the construction of its new Silk Road to South
Asia, Africa and Europe (the so called $900 billion "Chinese Belt and Road Initiative") to ensure the unencumbered distribution of its massive but all too often substandard production, building island
military bases in, and claiming possession of, the entire South China Sea. Read the entire Staff Paper
PDF August 2021.
Michael Bistow BBC News 09 Nov 2020
CHINA: Students abroad fear Hong Kong's security law
The Peoples Republic of China's national security law imposed on Hong Kong is not only curtailing
speech in the territory but applies supra-nationally to everyone in the world, threatening to detain, prosecute and imprison people upon
arrival in China, including Hong Kong.
"Foreign institutions renowned as bastions of free speech are having to deal with Chinese censorship. Anyone who criticises China and travels
to Hong Kong is potentially at risk of arrest under the new law. But Hong Kong students studying abroad face a particular threat because
they will at some point return to the former British territory. They cannot avoid going to Hong Kong in the same way foreigners can."
"At Oxford University, an associate professor involved in Chinese studies is allowing her students to submit their work anonymously to protect
them, a position supported by her superiors. The university remains committed to academic freedom of speech and thought, and to fully
supporting its academics in how they choose to teach, the university said in a statement."
AASBI does not accredit business schools in China, including unfortunately the jewels of Hong Kong and Macao.
The Article BBC News.
See also "China's National People's Congress Standing Committee disqualifies Hong Kong elected lawmakers" and "Pro-democracy lawmakers
resign en masse" on BBC News 11 November 2020
Winston Churchill (1940) Speech in the
House of Commons;
Boris Johnson (2014) on The Churchill Factor - YouTube.
To Combat Business Student Enrollment Loss
“It is best to act aggressively, rather than cautiously, in the face of uncertainty.”
That is the advice from an unlikely source known for its conservative counsel,
namely, the Governor of the Bank of England, here Andrew Bailey as reported last
week, 19 October 2020, by the BBC.
It’s time for Schools of Business to pave some new highways in their area by opening an online category of admitted students who have agreed to be interviewed by tuition-supporting
business enterprises at the beginning of their studies with a view of full-time employment upon graduation.
26 October 2020.
At home, China is annihilating the native population of Xinjiang Uygur Autonomous Region, by surveillance, suppression of their identities, religious beliefs
and reproduction. Reports from the World Uyghur Congress submitted to the United Nations in July 2018 suggest that one million Uyghurs are currently being held in the re-education camps.
New Initiative Calls on American Universities and Foundations to
Stop Investments in Uyghur Oppression.
PR China Threats to Academic Freedom Abroad
"Human Rights Watch investigations found that the Chinese government attempts to restrict academic freedom beyond its borders."
(Article 21 March 2019 online.)
Large numbers of students, scholars, scientists, and professors from China now study or work at colleges and universities abroad. In recent years, Chinese government authorities
have sought to influence academic discussions, monitor overseas students from China, censor scholarly inquiry, or otherwise interfere with academic freedom.
While a promiment American agency has
accredited scores of PR China's government-supported business schools to qualify their MBAs as better annihilators of indigenous people and Hong Kong's freedom advocates, undermining the
U.S. sanctions for the
Chinese human rights practices and
AASBI does NOT accredit institutions in PR China based on the complete lack of human rights, academic and religious freedoms. More about
U.S. to withdraw visas for foreign students if classes moved fully online.
"Foreign students arrive in the US every year to study and are an important share of revenue for US
universities. "Harvard has announced all courses of instruction will be delivered online when students return for the new academic year, including
those living at the university. The Student and Exchange Visitor Program, which is run by ICE,
had permitted foreign students to continue with their spring and summer 2020 courses online while remaining in the country. But Monday's [06 June 2020]
announcement said foreign students who remain in the US while enrolled in online courses and fail to switch to in-person courses could face "immigration
consequences including, but not limited to, the initiation of removal proceedings. The rule applies to holders of F-1 and M-1 visas, which are for academic
and vocational students. The State Department issued 388,839 F visas and 9,518 M visas in the fiscal year 2019, according to the agency's data."
Article BBC |
offline 07 July 2020
Harvard and MIT sue over US visa ruling BBC News 08 July 2020.
"I would really hope that ICE [US Immigration and Customs Enforcement] reconsider the policy. It's affecting every single international student here in America.
We paid huge amounts of money and came here with dreams. For those who cannot afford the plane tickets or whose home country has a closed border, they may face
deportation. We are all so concerned." US student visas: 'A lot of people I know are scared for the future'.
08 July 2020.
The Impact of Coronavirus on International Student Recruitment
"Exclusive QS survey data has revealed how prospective international students are dealing with the coronavirus, and the ripple effects for international student recruitment.
The coronavirus, or COVID-19, has caused devastating ripple effects and significant disruptions to industries worldwide.
To understand the impact on the higher education sector and its student mobility flows, QS asked prospective international students whether the coronavirus had impacted their plans to study abroad.
As of February 26, the results reveal that an encouraging 61% of respondents said the global health crisis had not affected their plans to study abroad, while 27% said it had."
Full article by Sarah Linney at QS Quacquarelli Symonds, London UK 12 March 2020.
Other headlines on Covid-19 economic impacts
UBI - Universal Basic Income: Will coronavirus signal the end of capitalism? The peasants' revolt after the 14th-century plague saw off
feudalism. After COVID-19, will it be the turn of capitalism? Excerpts:
"Even though most ordinary people do not understand how dangerous this is, the people in power do. That is why they have persuaded the central banks to effectively nationalise the bond markets.
This means that states are issuing debts to bail out people and companies as with Trump's two-trillion-dollar deal and those debts are being swallowed up by another part of the state itself
the central bank.
"Left-wing economists, myself included, have been warning that, in the long term, stagnant growth and high debt were likely to lead to these three policies: States paying citizens a universal income as
automation makes well-paid work precarious and scarce; central banks lending directly to the state to keep it afloat; and large-scale public ownership of major corporations to maintain vital services that
cannot be run at a profit."
"As for the funding of state debts by central banks, this is seen as an admission of moral defeat by capitalism: It is entrepreneurship and competition that are supposed to drive growth,
not the Bank of England or the Fed printing money and lending it to their treasuries. Therefore, a capitalism permanently reliant on these mechanisms is unthinkable to most traditional economists."
By Paul Mason 03 April 2020 on
Aljazeera Studio B Unscripted
offline. Interview with Molly Crabapple on
Covid-19: An unheeded lecture April 2015:
The next outbreak? We’re not ready by Bill Gates 21 million views Apr 3, 2015 View YouTube
Visit TED.com to get our entire library of TED Talks, transcripts, translations, personalized talk recommendations and more.
"In 2014, the world avoided a horrific global outbreak of Ebola, thanks to thousands of selfless health workers plus, frankly, thanks to some very good luck. In hindsight, we know what we should
have done better. So, now's the time, Bill Gates suggests, to put all our good ideas into practice, from scenario planning to vaccine research to health worker training. As he says,
"There's no need to panic ... but we need to get going." Photo credit: Reuters at the BBC
"The TED Talks channel features the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less).
Look for talks on Technology, Entertainment and Design plus science, business, global issues, the arts and more. You're welcome to link to or embed these videos, forward them to others and share these ideas
with people you know. For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course)."
Submit a Media Request here:
Follow TED on Twitter
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Lessons from the 1918 Influenza Pandemic
The Spanish flu, also known as the 1918 flu pandemic, was an unusually deadly influenza pandemic. Lasting from January 1918 to December 1920, it infected 500 million people—about a
quarter of the world's population at the time. The death toll is estimated to have been anywhere from 17 million to 50 million, and possibly as high as 100 million, making it one
of the deadliest epidemics in human history. (Quote from Wikipedia, "Spanish flu")
In the United States, the influenza of 1918 was the most serious epidemic in its history. Hundreds of thousands of people died and millions were infected with the highly contagious influenza virus.
The possibility of a future influenza pandemic has focused research back to the 1918 pandemic as a foundational model for the likely effects of a modern-day influenza outbreak in the United States.
Despite the severity of the 1918 influenza, however, there has been relatively little research done on the economic effects of the pandemic. This report has provided a concise, albeit certainly
not complete, discussion and analysis of the economic effects of the 1918 influenza pandemic based on available data and research. Excerpts
from Thomas A. Garrett (2007), AVP and Economist of the Federal Reserve Bank of St. Louis.
Johns Hopkings University Coronoavirus Resource Center Statistical updates.
Image to the left: The Plague by Swiss symbolist artist Arnold Böcklin (1898). Location: Kunstmuseum Basel. The Plague also known as the "Black Plague" or the "Black Death" (mors nigra),
probably originated in Central Asia or East Asia, was the most devastating pandemic recorded in human history, resulting in the deaths of an estimated 75 to 200 million people in Eurasia,
peaking in Europe from 1347 to 1351 killing 60% of the European population, as suggested by Norwegian historian Ole Jørgen Benedictow, University of Oslo.
Top 10 Jobs for Business Majors Median U.S. salaries, projected growths, and needed skills 06 November 2019
Asian Business Schools Are Booming Never mind whether ranking means anything because the Financial Times quality
index includes only certain US- or EU-accredited schools of business, twenty years ago Asian business schools did not figure in the FT's Global MBA Top 50.
Nearly two-thirds of the world's population lives in Asia. Today there are only 15 Asian business schools in the most cited so called "Top 100". It all depends on how you measure); and this
will be changing.
"According to the GMAC Prospective Students Survey 2019, [only] 15% of students in East and Southeast Asia indicate a preference to study internationally.
The top two reasons for this preference are the reputation of the educational system abroad, and the improved chance of an international career. Now that Asian b-schools are on a par, or even ahead, of European
and US schools, and can provide first-hand access to a booming international tech market, it’s no wonder applications in Asia are on the rise." December 2019
Business Acceditation. The Gold Standard. The Lead Standard.
"The ideas of a few, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men and women, who believe themselves
to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of
a few years back. Certainly, the power of vested interest is vastly exaggerated compared with the gradual encroachment of ideas." (John Maynard Keynes (1936). "The General Theory of Employment, Interest, and
Money.") More '
Full Article 10 October 2019.
"Yet other observers foreground the need for students to gain radically critical and political perspectives on technology, citizenship
and resistance today, and for scholarship, pedagogy and technology design to prioritise students’ potential to live in relations of care and community,
intellectual privacy and safety." "Students and society in the 2020s. Three future ‘histories’ of education and technology" by Felicitas McGilchrist, Heidrun Allert & Anne Bruch,
Journal Learning, Media and Technolgoy, Routledge Taylor & Francis Group online, 26 August 2019 Full article
Swinburne Univ. A video | "Learning Technology"
Students and Society in the 2020s
This paper envisages three different future decades, starting with the ongoing ‘education in a digital world,’ focusing on the socio-economic-material
embedding of technologies in future educational practices, what is thought to be a desirable future student-subject, priorities students will have, and
what kinds of experience they might want to have.
"One set of observers highlights the potential for learning analytics, artificial intelligence, adaptive learning, maker-centred learning and other
interactive or data-driven technologies to increase equality of opportunity by fostering independent, flexible, reflective, team-working individuals
who have developed grit, tenacity and a sense of self-empowerment.
"Other observers critique these traits as encouraging young people to constantly monitor, evaluate and improve themselves, practices
which reduce schooling to the preparation of young labour to be exploited by a capitalist economy, for technology only to become a tool for the constant
surveillance / dataveillance of young people, hindering democratic decision-making, determining what counts as good schooling and distracting efforts from
the structural transformations necessary to overcome entrenched socio-economic inequalities.
Luca Pacioli (1447 – 1517)
Also known as the Father of Accounting
The Excuse for Research in Accounting Education. Accounting is a convention
for the recognition, the recording, valuation and reporting of historical business transactions based on a two thousand year old tradition from Mesopotamia that
became known as Venetian bookkeeping, explained by the mathematician and Franciscan monk, Fra Luca Bartolomeo de Pacioli.
The article discusses the question whether accounting as a convention lends itself to research, contributing something to the body of knowledge
that was not known before. Are doctoral degrees important for teaching, as an excuse to demonstrate procifiency, or rather professional
designations coupled with practical experience?
The most highly ranked business schools have the lowest number of professionally qualified accounting professors (CPA or equivament), which is the result of a misguided AACSB-accreditation
requirement that at least 40% of qualified faculty must be doctorally qualified.
Forbes writes that business schools are teaching yesterday's stuff.
The age of digitalization involving the electronic processing of each and every purchasing order, sales, manufacturing and financial transaction,
allows for the auditing of 100% of transactions rather than statistical samples, eg, through blockchain, providing future employment for only a few highly trained and motivated geeks to apply the algorithms for
the artificial intelligence that runs the entire accounting system, producing financial statements, analyses, budgets, forecasts in real time on demand.
Accounting, as we have known it for centuries, will be gone, and with it the doctoral qualification requirement and its academic surveys based on consumer statistics for teaching the art. And remember, it really does not matter Where you study, but What You
Do There. - 16 September 2019 - More
CNBC 14 March 2018.
Automation, Artificial & Business Intelligence
The terms Artificial Intelligence and Automation are similar in that they are associated with software or physical robots and other machines to operate
efficiently and effectively - whether it's a mechanical construct piecing together a car or sending a follow-up email the day after your customer failed
to complete his order.
There are, however, big differences between complexity level of both systems. Automation is making hardware or software to do things automatically, that
is without human intervention. Artificial Intelligence on the other hand is a science of making intelligent machines to mimic and eventually supersede human
behaviour and intelligence.
Industrial automation places sensors and makes something do corresponding to sensor readings. Automation evolved into production with automatic testing and
control systems, mechanical labour, operating equipment and of course computers, all bound by explicit programming and rules.
If you want to make the same thing to be an AI, you need to power it up with huge quantities of data, like use of neural networks, graphs, Machine Learning
(Deep Learning) in your software. More by AASBI Staff, 01 August 2019.
Robert Half - Ethics in Accounting
Big Change in Who Accounting Firms are Hiring
About 80% of public accounting in the United States is handled by the Big4, namely Deloitte, PwC, EY and KPMG, grossing roughly $65 billion a year (2018); worldwide $148.16 billion with 1,005,050 employees.
The Big4 used to be hiring armies of university graduates each year, expecting them to complete the U.S. CPA exam within a certain time frame before considering them for promotion.
Graduate recruitment at auditors and accountants could fall by as much as 50% in 2020 due to the impact of artificial intelligence (AI). At the same time, the increase in technology means graduates with
skills in areas such as data analytics and computer sciences are in high demand. "Firms will no longer need armies of junior staff but instead will need the best algorithm design geeks in the world."
Accounting and auditing professionals who make the grade are called
"accounting plus" and had a minor or double major in data science or data analytics, computer science, programming or management information systems. The Big4 increasingly hire people with a variety of
different backgrounds. Technologists are the second-largest segment including new employees with an engineering or computer science degree.
In assurance, the CPA is the basic qualification for most audit roles, but audit is chainging as audit pervades every industry The entire article is at
How to Win the Battle for Professional Accounting Talent,
IICPA 01 May 2019.
Brescia University Owensboro, Kentucky
The Annual B-School Ranking Spectacle
A doctoral engineering alumni from Stanford University once told me: "Dad, it does not matter so much where you study. What matters is what you do there." And he could prove his point by showing that his doctoral
dissertation (Armin Schemmann, June 1997) had become the world's textbook for "Modeling and Active Control of Cable-Stayed Bridges Subject to Multiple-Support Seismic Excitation," which was subsequently published
and made available at Amazon.com (now out of print). Armin received several awards for building the 4-kilometer wide four-lane elevated John James Audubon Bridge, America's largest cable-stayed span, completed and
opened in 2011, crossing the Mississippi River between Natchez, Mississippi and Baton Rouge, Louisiana. 2019-01-21.
Choosing an International Business School
Suppose the unthinkable happens and my two daughters are following in my footsteps, taking graduate degrees in business administration and passing the uniform certified public accountants examinations in America, Europe,
or let's say in Asia where they were born, turning the analysis of the choice into a complex matrix (matrix from Latin, meaning "breeding female").
As a business educator I would rely on my own experiences and analyses of the colleges/universities... and what I consider are the important criteria to weigh, namely: (1) The value defined as salary earned by
alumni today, course length, fees and other costs, including opportunity cost of not working for the duration of the course, (2) the overall Financial Times (FT) ranking for good measure, (3) recommendation by
alumni, and (4) human rights record called freedom ranking of the host countries - not considered by U.S. and the European mainstream business accreditation agencies. I don't want my children to be arrested and jailed in
China for suggesting a new constitution, or murdered in the Saudi consulate in retribution for their critical articles about its royal rulers... More in the AASBI
Staff paper of 2018-10-29.
King's Business School
London, Ontario, Canada
MBA or Specialized Master's Degree? In the fall of 2018, King's Business School opened at a brand-new, dedicated site at Bush House
in central London, Province of Ontario, Canada. The revamped business school hosts 2000 students from 80 countries who are taught by over 100 academic staff.
King's offers a wide array of under-graduate, post-graduate, and executive education programs. But, trawling through the glossy pages of the school's brochures, there's one glaring omission: There is no
MBA program in sight. Instead, King's offers specialized masters degrees shorter, more affordable, more concentrated post-graduate management courses. King's is launching new master's in digital marketing and entrepreneurship
and innovation this year. More.
The Dean of Business Titles, Requirements, Salary and Role. Base Pay (U.S.) with BA degree: $154,000 - $176,000, with MBA degree: $156,000 - $179,000;
with doctoral degree: $160,000 - $183,000, compared with European salary (Germany): EUR 44'000 - EUR 66'000.
There is a trend in the UK towards the recruitment of pro-vice-chancellor/executive deans who are closer to the vice-chancellor with overall university responsibilities, but removed from operational
details and students. In contrast, accreditation agencies require demonstration of autonomy by the business school and more international students, yet schools are grappling with local centralisation of admissions and other
processes over which they sometimes have little control.
Business school deans are 'reticulists', that is 'individuals who are especially sensitive to and skilled in bridging interests, professions and organizations' with room for more visability in the media
(and social media) and to develop skills in corporate and public relations as boundary spanners, intermediaries, and ambassadors.
Image: Professor Dr. Jan Turyna (Video on YouTube), Dean of the Faculty of Management,
University of Warsaw (Video on YouTube) 2017.
BOOK REVIEW: Prof. Bryan Caplan (2018). "The Education System Is a Waste of Time and Money."
"His broadside is worth considering carefully, given that the U.S. spends $1 trillion or so a year on education at all levels, more than the budget for defense," writes Peter Coy, "The Case Against
Colleges," Bloomberg, 16 January 2018.
Excerpts from Bryan Caplan (2018), "The Case Against Education. Why the Education System Is a Waste of Time and Money." Princeton University Press, 400 pages.
"I have been in school continuously for over 40 years. First preschool,
kindergarten, elementary, junior high, and high school. Then a 4-year bachelor degree at UC Berkeley, followed by a 4-year Ph.D. at Princeton." "The next step as a professor of economics at George Mason University. Twenty
years later, I'm still here. In the fall, I'll be starting 41st grade." "The benefits of a higher education seems indisputable: People with a bachelor's degreeearn 73% more than those with a high school diploma on average."
"To be maximally bluent, we would be better off if education were less affordable. If subsidies for education were drastically reduced, many could no longer afford the education they now plan to get.
If I am correct, however, this is no cause for doom. It is precisely because education is so affordable that the labor market expects us to possess so much. Without the subsidies, you would no longer need the education
you can no longer afford."
Bryan Douglas Caplan (born April 8, 1971) is an American economist. Caplan is a professor of economics at George Mason University (a public research university at Fairfax Country, Virginia, USA),
research fellow at the Mercatus Center, adjunct scholar at the Cato Institute, and frequent contributor to Freakonomics as well as publishing his own blog, EconLog. He is a self-described economic libertarian.
The bulk of Caplan's academic work is in public economics, especially public choice. (Wikipedia, "Bryan Caplan.") More
Image by Amazon.com
Image by medium.com Sep 29 [c. 2017]
Blockchain has become the rage at U.S. business schools. As more students seek careers in financial technology, or 'fintech',
US business schools beef up training digital currency bitcoin. — The move makes sense as more students seek careers in financial technology, or "fintech," which has captivated leading Wall
Street banks and been called "the most important technology since the internet." "In January 2018, the Haas School of Business at the University of California at Berkeley will offer its first
ever course in blockchain software. The Haas school, which is near San Francisco and Silicon Valley, will handpick 60 students from the departments of business, engineering and law and split
them into groups of six to explore possible applications of the technology.
'When people think about blockchain they think about cryptocurrencies,' said Haas school lecturer Greg LaBlanc, who
sees the technology as potentially disrupting many sectors. 'We believe it will have the biggest impact on contracting, logistics and supply chains, healthcare, public administration, assets
clearing, property, transactions,' he said." More
The New College Exam: A Test to Graduate On the other hand: “Isn’t it amazing that the newest and most brilliant idea out there is that students should achieve
particular skills and prove it?” Marsha Watson, president of the Association for the Assessment of Learning in Higher Education, asked wryly. "Faculty grades fail to do this, advocates for testing say.
Forty-three percent of grades given out by college faculty are A’s, according to research published by Teachers College at Columbia University. Yet one-half of students about to graduate from four-year
colleges and 75 percent at two-year schools fall below the “proficient” level of literacy, according to a survey by the American Institutes for Research. That means they’re unable to complete such real-
world tasks as comparing credit-card offers with different interest rates, or summarizing the two sides of an argument."
The New College Exam: A Test to Graduate
Image: Chris Windsor/Getty.
Could faculty grades be counter-productive?
"Some institutions, like Hampshire College in Amherst, Massachusetts, give students descriptive feedback instead of grades, arguing that narrative transcripts do a better job of capturing what students have learned.
A 'stress reduction policy' listed on a University of Georgia business professor's course syllabi brought the kind of attention this week that colleges prefer to avoid. Among other things,
the policy - since removed at the behest of the dean - would have let students get the grade of their choice upon request if they felt 'unduly stressed' by the original mark."
"But too often, Ms. Pike says, grades are asked to be things they are not: an assessment of learning, or a complete evaluation of students' work. Grades, she says, are a summary statistic.
Knowing that one student got an A and another a B tells you that the first student's performance was rated higher. But it doesn't tell you why."
Beckie Supiano, The Chronicle of Higher Education 10 August 2017
MBA Rankings There is no one source that is going to tell you which school is best. But "it does not matter so much where you
study as what you do there," says a PhD alumnus from top-ranked Stanford University. The systems of ranking base their conclusions on surveys of students and alumni, as well as information
provided by the business schools and peer reviews in which deans of schools and program heads are asked to rate other schools (but not their own), eg. on a scale of 1 - 5. The questionnaires
seek to establish first the quality of the educational experience, and second, the potential benefits to a student's career.
20 best business schools in America Alex Morrell and Tanza Loudenback 15 March 2017 More
(e.g., the University of Michigan at Ann Arbor and
Northwestern University) rank lower. Global rankings of research universities are just one symptom of economic globalization.
Similarly, outstanding universities in the social sciences — like the London School of Economics and Political Science — are not even in the top 100, according to the
Shanghai rankings." Prof. Brian Leitner (Univ. of Chicago), "Academic Ethics: To Rank or Not to Rank?"
Chronicle of Higher Education 12 July 2017.
Image: End Times on YouTube 28 Jan. 2015 (fair use)
The Halo Effect of university name recognition, that is, picking the universities whose names
one can remember because they are "big names" in the new world ranking industry:
"For example, a university can recruit people to vote in its favor for the online surveys, and QS [Quacquarelli and Symonds] offers paid consulting services to improve a university’s ranking,
as well as paid 'guidance' for university leaders. Indeed, the enterprise is so brazen that it effectively sells rating approval for a price."
"Consider that the University of California at San Francisco — which is an outstanding medical school with some allied-health fields but doesn’t offer any other academic
programs — ranks 21st in the world, according to the folks in Shanghai [ShanghaiRankings
was started by a university in Shanghai], while actual research universities with excellence across many disciplines
Surging Graduates. Number of college graduates increased 7-fold from 2001 to 2017. Source: eol.cn
"Wages for China’s newest 7.95 million college graduates are plunging as their ranks rise to a record.
That’s unwelcome news for the nation’s young elite, but it may aid policy makers striving to shift the economy into higher technology industries and services.
Monthly salaries plummeted 16 percent to 4,014 yuan ($590) this year for a second-straight annual decline, data from recruitment site
Zhaopin.com show. The Ministry of
Education estimates that 7.95 million will graduate this year, almost the population of Switzerland."
Bloomberg - 02 June 2017 More.
Income Inequality and Education Revisited.
The study finds a large,
positive, statistically significant and stable relationship between inequality of schooling and income inequality, especially in emerging and developing economies
and among older age cohorts. The relationship between income inequality and average years of schooling is positive, consistent with constant or increasing returns to
additional years of schooling.
While this positive relationship is small and not always statistically significant, the study finds a statistically significant negative
relationship exists years of schooling of younger cohorts.
David Coady and Allan Dizioli, "Income Inequality and Education Revisited: Persistence, Endogeneity, and Heterogeneity,"
International Monetary Fund, IMF Working Paper WP/17/126, 26 May 2017
Just 14 per cent of Americans have “a great deal of confidence” in universities.
A survey conducted between December 2013 and January 2014 found that a higher proportion (19 per cent) reported a great deal of confidence
in the scientific community specifically, lagging behind the military (26 per cent), but performed better than the US Congress (3 per cent). Times Higher Education
1st May 2017 More.
Amazon’s shopping spree at business schools. One of the biggest recruiters of MBA graduates.
Miriam Park's university recruitment team last year hired MBA graduates “in the high hundreds” across the world, about 30 per cent higher
than the previous 12 months at MBA levels. Starting salaries range from $137,000 for a programme manager to $180,000 for a senior product manager.
Financial Times 27 March 2017 More.
Today, business schools are concerned about their survival, with traditional 2-year MBA application numbers either flat or falling. Accreditation bodies are
receiving record numbers of applications, AMBA charging a £22,000 fee for membership and accreditation with annual dues on top.
"The aim for many schools is the so-called triple crown of AACSB, AMBA and EQUIS accreditation held by 76 schools worldwide."
Considering Grad School in the U.K., Australia and Switzerland versus U.S.A.
U.S. News & World Report: When deciding between studying in the United Kingdom, Australia and the U.S., international students pursueing graduate studies
find that the U.K. and Australia – rather than the U.S. – are offering a quicker, more affordable master's degree without the required GRE or GMAT, in only one
instead of typically two years, at lower tuition. Article by U.S. News & World Report
17 January 2017 More.
Harvard Business School Executive Education - BBC: "Smart ways to get Harvard Business School on your CV"
"Top business schools, including Harvard, have long attracted business people who want to further develop their skills, build their network
and hone a competitive edge. But unlike degree programmes - where admission rates can be as tough as just 7% of applicants and require
near-perfect GPAs (Grade Point Averages) and test scores - many of the executive education programmes have few academic admission requirements."
"At Harvard Business School, executive education revenue made up $168 million out of $707 million total revenue in 2015."
Strong universities benefit the British people - creating employable graduates and cutting-edge research discoveries that improve lives." "We believe that leaving Europe would create a difficult environment for the long-term investment in higher education
and research that is necessary for the UK to maintain its position as a highly skilled and a globally competitive knowledge economy." From an open letter to UK voters from leaders
of 103 British universities
Independent 21 June 2016.
Splendid Isolation. “It’s true that our geography has shaped our psychology,” PM David Cameron said on the morning of January 23, 2013,
after his party had forced him to deliver a speech that foreshadowed his own political destruction. “We have the character of an island nation — independent, forthright,
passionate in defence of our sovereignty. We can no more change this British sensibility than we can drain the English Channel.”
Financial Times 24 June 2016.
The Voices of 103 Heads of UK Universities: "The impact of our universities on our local communities and economy should not be underestimated.
Every year, universities generate over £73 billion for the UK economy £3.7bn of which is generated by students from EU countries, while supporting nearly 380,000 jobs.
Brexit: UK business schools uncertain but optimistic. Despite concerns over funding, institutions believe they will remain attractive, aided by weak pound.
Financial Times 11 July 2016.
AASBI's Vision of the Future of Higher Business Education
AASBI recognizes that in a decade or two, half of the world's 13,000 business schools will be extinct for failure to shift educational
emphasis away from dusty textbooks, old and gray theories, towards professionally relevant technical applications.
Faculty qualifications will include not only academic degrees but professional licensing certificates in the instructors' teaching areas, and they will largely
be adjunct faculty instead of expensive full-time and tenured career academics.
In educating future business students, the present emphasis on research is not a substitute for solid demonstratively successful work experience. Accounting, for example,
is a convention based on concepts, promulgated principles, rules and regulations leaving little room for research except applications, permitting surveys to masquerade as
MBA: With U.S. enrollment down, B-schools are wooing foreigners. "As the U.S. appetite for the MBA degree wanes, many of the country’s more than 700
B-schools are stepping up recruiting abroad, where regard for this American invention appears undiminished." Roger Martin, who led
the University of Toronto’s Rotman School of Management for 15 years predicts that half of U.S. business schools may not be operating in 10 to 15 years, because
there won’t be enough enrollment to support their “very bloated” cost structures. Article by Nick Leiber, BloombergBusiness 18 March 2016
Asia drives demand for international schools Another top English boarding school is setting up a school in China, travelling the path taken by
schools such as Harrow, Dulwich College, Malvern and Wellington. "They don't want to be westernised but they want to apply to western universities." "Some parents also
want their children to rub shoulders with an international elite and build contacts for a future career." "Another motivation is to escape the relentless drudgery and
ferocious competition of a local school system based on rote learning and geared only towards exams." BBC 16 Feb. 2016.
Christine Ortiz at Deans' Forum 2015, MINES ParisTech
MIT Dean Wants to Start a New Radically Different University in Massachusetts Professor Christine Ortiz, a dean for graduate education at MIT, is taking a one-year leave at the end of the 2016 to start a new non-profit
research university in Massachusetts. There will be no lectures, majors, or classrooms, and no distinction between undergraduate and graduate students. Instead, the university
will place a focus on “project-based learning”. The success of her new school will determine whether she will return to her material sciences professorship in 2017. Ortiz is currently finalizing her founding
team and beginning the legal process for establishing a university. 01 February 2016 More
Business schools no longer relevant in the age of automation
Business schools "were found wanting in the 2008 global meltdown — look at articles on “business schools to blame for financial crash”. But this is nothing compared with the
crisis now brewing in business, and the complete lack of understanding or leadership from business schools to manage it." Financial Times 10 January 2016
China's new found love of private education BBC 24 December 2015 More
Lessons for ASEAN on the Globabilzation of Education
"The latest Open Doors report has once again demonstrated the urgent need for Asean countries to take immediate steps for the internationalisation of education.
While China, India and South Korea have quickly emerged as players in the domain of international education, ASEAN, and in particular Thailand has not made its mark
as yet." More
Growth in International Enrolment Up. But Growth in Future is Slowing
While showing robust growth in overseas enrollments during the past academic year 2014-15, there are already signs, however, that the future outlook could be gloomier.
"Inamori’s less-extreme capitalism is a product
of Japanese society, which he says is less willing to accept gaps between haves and have-nots than western economies. Executives have to take that into account, he said.
'Companies do belong to shareholders, but hundreds or thousands of employees are also involved,' Inamori said. 'The hen has to be healthy.'" Tom Redmond and Takako
05 November 2015
Shareholder Value: One of the most important lessons of business school is pretty much wrong. The Buddhist Priest Who Became a Billionaire Snubbing Investors:
Kazuo Inamori, founder and chairman emeritus of Kyocera Corp.
"All that stuff about focusing on shareholders? Forget it, says Kazuo Inamori, entrepreneur, management
guru and Buddhist priest. Spend your time making staff happy instead. He’s used this philosophy to establish electronics giant Kyocera Corp. more than five decades ago,
create the $64 billion phone carrier now known as KDDI Corp., and rescue Japan Airlines Co. from its 2010 bankruptcy."
"The secret, as Inamori tells it, was to change employees’ mentality. After taking the CEO role without pay, he printed a small book for each staff member on his philosophies,
which declared that the company was devoted to their growth. He also explained the social significance of their work and outlined Buddhist-inspired principles for how employees
should live, such as being humble and doing the right thing."
Best Business Schools 2015. "This year, we’ve revised the way we rank schools. For the first time, we surveyed MBAs after graduation for more
insight into what graduates can expect in their future careers. We detailed some of the standout findings about MBA alumni in a separate report—including a broad pay
difference between male and female MBAs that starts small, but gets bigger as they continue their careers.
"Older elements of our ranking, including a tally of faculty research, have been scrapped because they don’t get at our fundamental question: How well does
this business school channel its graduates into good jobs?"
The Ranking - Full-Time MBA: International: (1) Western (Ivey), (2) London Business School, (3) INSEAD (Fontainebleau), (4) IE (Madrid), (5) IMD (Lausanne), (6) Oxford (Saïd), (7) IESE (Barcelona),
(8) Cambridge (Judge), (9) Queen's (Kingston, Ontario), (10) HEC Paris, (11) ESADE (Barcelona), (12) SIDA Bocconi, (13) Cranfield, (14) St. Gallen, (15) ESMT (Berlin),
(16) McGill (Desautels), (17) Mannheim, (18) Toronto (Rotman), (19) Manchester, (20) Imperial College London
Bloomberg 24 Oct 2015.
SPUP - St. Paul University Philippines. Int'l Research Conference and Call for Papers - "Towards an Integrated ASEAN Community" at
Tuguegarao City, the Philippines, January 14-16, 2016. Topics: Business & Hospitality, Health Sciences, Technology and Engineering, Science and Mathematics, Environmental Stewardship,
Global Education, Spirituality, Language and Humanities.
Education by 2040
The number of students enrolled in tertiary education today exceeds 200 million globally, compared to 47 million in 1980. Enrolments are projected to exceed 660 million by 2040.
This would represent 10% of the world’s population aged 15–79 by 2040, compared to 4% in 2012. By Angel Calderon at University World News - Issue No. 381 - 11 September 2015
McGraw-Hill CEO expanding on open learning.
University text books are a thing of the past. McGraw-Hill education CEO David Levin explains to John Authers why the company has embraced 'open learning' which represents one of the biggest steps yet in the company's
transition from a publisher to a learning science company.
Financial Times, 5th August 2015.
Australian schools must turn global.
Sep 4, 2015 : Zeger Degraeve, dean of Melbourne Business School, explains to FT Business Education correspondent Jonathan Moules the need for Australian schools to
become conscious of their place in the world.
Video Financial Times, 4th September 2015
Rule of law in China, a country which locks up its human rights lawyers
Dozens of Chinese lawyers have been detained or interrogated over recent days in what seems to be a co-ordinated roundup. The crackdown has targeted those who take
on cases involving free speech, human rights and abuses of power, presenting many of them as motivated by greed and a reckless disregard for social order.
BBC News-China 13 July 2015 More
Dreams Collide With China Slowdown for Job-Seeking Graduates.
7.5 million college graduates are entering China’s job market this summer 2015, the most ever and almost seven times the number in 2001. There is a yawning skills gap
between what the economy needs and what graduates want to do. Graduates last year most wanted to be secretaries, teachers, administrators, accountants and human
resource managers, yet the top five needed by employers were salesmen, technicians, agents, customer service staff and waiters.
Entrepreneurship can be taught, say educators.
The problem, as he sees it, is that universities and business schools have been treating entrepreneurship as a technical subject, such as accountancy, when it should be taught
more like a creative subject, such as art, where practical exercises are as important as the theory. "I realised that for entrepreneurship, we have been asking the wrong question,"
Mr Blank explains. "It is not whether we teach entrepreneurship - of course you can do that. It is who you can teach it to." Financial Times 8 June 2015
Why do so many Chinese students choose US universities? — There are more than a quarter of a million students from China in colleges in the United States -
a third of all international students in the country - and almost a fivefold increase since 2000. -
BBC News 2 June 2015 More.
Asia: The next higher education superpower (2015)?
"The center of gravity in higher education is perceptibly shifting to Asia where more than half of the world's population is found. This thought-provoking book raises new questions about interconnectedness and interdependence in higher education with the Asian factor fully in focus."
— Anne Pakir, Associate Professor, National University of Singapore.
Singapore Straits Times
Asia tops biggest school ranking
Rankings based on mathematics and science at age 15. The analysis, based on test scores in 76 countries.
1. Singapore; 2. Hong Kong; 3. South Korea; 4. Japan; 5. Taiwan;
6. Finland; 7. Estonia; 8. Switzerland; 9. Netherlands; 10. Canada;
11. Poland; 12. Vietnam
"If you go to an Asian classroom you'll find teachers who expect every student to succeed. There's a lot of rigour, a lot of focus and coherence.
These countries are also very good at attracting the most talented teachers in the most challenging classrooms, so that every student has access to excellent teachers."
The report, published by the OECD and written by Eric Hanushek from Stanford University and Ludger Woessmann from Munich University, argues that the standard of education
is a "powerful predictor of the wealth that countries will produce in the long run". BBC Business |
The Straits Times
Singapore - 13 May 2015.
See also OECD- PISA Programme for International Student
See also "The Role of School Improvement in Economic Development" Hanushek's and Woessman's (2007) paper
"The Role of School Improvement in Economic Development"
published 9 January 2007
Results of Higher Education Reform in Asia, Sixty Years Later
In ASEAN, Thailand, Malaysia and Indonesia have shown great qualitative achievements in promoting their higher education. Approximately three in 10
Indonesians are at the age of entering tertiary education, just behind Thailand and Malaysia. Indonesia has 4,251 higher-ed institutions serving over 5.1 million students.
This is a positive trend with a compounded annual growth rate of 6.1 percent, up from total students of 3.8 million in 2009. With its existing gross domestic product (GDP)
of $2.55 trillion USD (2014), the World Bank reports Indonesia as the 9th largest economy in the world.
Image Universita Surabaya -
Learning Beyond the Classroom
Laureate Education: World's Biggest For-Profit College Chain Plans $1 Billion IPO
Laureate Education Inc. (Honorary Chairman former President Bill Clinton), is launching a $1 billion initial public offering in the United States.
The company could be valued at about $5 billion. Based in Baltimore, Laureate Education Inc. owns 84 universities, mostly in emerging markets.
The For-Profit Education Index of 13 companies, including DeVry Education Group Inc. and
Apollo Education Group Inc., has plunged 55% since its peak five years ago, student enrollment has slowed amid recruiting abuses and student debt concerns,
leading to a regulatory crackdown. More.
Image: Bill Clinton | Be Creative Be DIY
How can Asia compete for international students?
Asia is diverse and full of potential. It is rife with complexity and change. Maximising the potential of Asian universities to become a hub for international
students will require diverse, innovative solutions that align student needs with institutional value propositions and a supportive policy environment.
Article by Rahul Choudaha at
University World News 27 March 2015
An "Apple University" in Asia
Apple plans to intensify its presence in Asia with an extension of its Cupertino, California-based internal training
program, the so-called Apple University to China. "Apple University is an extensive and growing program within corporate Apple that trains mid-level employees
and managers on the decisions made by Steven Jobs and other key executives. Jobs created the program alongside former Yale School of Business Dean Joel Podolny."
Story by Mark Gurman and picture on 9to5Mac Apple Intelligency 03 November 2014
Image left: Timothy Donald Cook, 54, CEO of Apple, speaking at a conference in China.
The 10 Top Global Hotel Management Schools
The top 3 schools are all Swiss. The winners’ rostrum is made up solely of Swiss institutions since in second place, behind Ecole hôtelière de Lausanne, we find the
Glion Institut des Hautes Etudes, while Les Roches comes third. "The ranking confirms the excellence of the Swiss educational model, which provides both immersion in
practice through internships in the hospitality industry and also extensive academic teaching."
Changes Young People Want in Education: Thailand —
An overwhelming proportion of youths want curriculum chang with more practical skills applicable to both work and real life rather than a mere emphasis on theoretical
knowledge. Some call for schools to tach critical thinking and analytical skills so that students could carve their own opinions and think outside of the box.
Unique to Thai responses, some youths also desired for their curriculum to contain less elements of patriotic education.
Picture: South University of Science and Technology of China (SUSTC) is widely regarded as the country's first test for
a new educational system meant to give the students better training for innovative research.
Focus on education reform by chinadaily.com.cn 2013-06-27 16:09
Business Schools of the Future
Opinions by industry, consultants and academe published as a "white pager" by
Grenoble École de Management, 2014.
Thoughts on the School of the Future "Domestic demand for the
MBA in its traditional markets, North America and Europe, is stagnating...Demand for business programmes is being propped up by students from emerging markets - particularly
in Asia - who are still drawn by the cachet of a management degree from a prestigious Western institution." Bill Ridgers, The Economist.
"By 2025, the number of students worldwide is projected to double to 260 million. Half of this growth will come from China and India, two countries already planning to build
hundreds of universities." Patrick Aebischer, EPFL École Polytechnique Fédérale de Lausanne.
Europe's Business Schools Top the List of the Deans' Choices
2014 Global Survey
According to the Deans' Choices, one-half (48%) of the world's top 50 business schools are located in Europe, one-third (34%) in the United States and Canada, seven or 14% in Austral-Asia, and suprise-surprise
two or 4% in Capetown, South Africa.
While Harvard, Yale, McGill, and Stanford are found in the top 10, MIT, Cornell and Columbia are not. Instead, Copenhagen (Denmark) takes the top spot, followed by INSEAD (France),
Rotterdam's Erasmus University (The Netherlands), Vienna University (Austria), HEC Paris (France), Bocconi (Italy), IMD Lausanne (Switzerland),
and ESADE of Spain. In Asia, NUS Singapore is a well-deserved 20th on the list.
The Deans' choices are an informed component in the peer assessment around the world from a recognized survey. - See
Complete 1,000 B-School Listings on Excel or as a single
HTML file. See also EdUniversal's
The best 1,000 Business Schools in 154 countries retrieved November 2014
The 100 Most Popular Business Schools 2014 by FIND MBA based on number of Profile Views by region:
Lists Asia | Europe |
The Best Business Schools by Forbes
Lists International |
What makes a global top 10 university?
The Academic Ranking of World Universities (ARWU)
website 2014 Top 500 universities
Top 200 in Economics/Business also known as the Shanghai Ranking produced by the Shanghai
Jiao Tong University, was first published in 2003.
"The ranking, backed by the Chinese government, was designed to provide a global benchmark against the various universities in China so they could assess their progress.
Specializations are more important than MBA rankings.
The QS Global 200 Business Schools Report claims to measure only one indicator – the employability outcome of an MBA program by region and specialization.
Business school specializations are the 8th most important criterion for school selection. School specializations are more important to applicants
than MBA rankings, convenience of location, or recommendations from peers, colleagues and even employers. The MBA curriculum is changing.
There is now greater diversity in the many MBA specializations on offer.
The report looks at the following 10 core MBA specializations:
(1) Corporate social responsibility
(4) Information management
(6) International management
(9) Operations management
The Report highlights four distinct categories of business school in terms of employer recognition: Elite Global; Emerging Global; Elite Regional; Emerging Regional•
Of the 33 leading institutions to make the Elite Global category, 12 are from the US. The other nations with Elite Global business schools are Canada (6), UK (3),
Spain (3), Switzerland (2), France (2), Denmark (1), India (1), Ireland (1), Italy (1) and Singapore (1).
There is greater onus on choosing the right country as well as the right business school. According to the survey 2013, over 50% of MBA students are choosing schools based on the
country in which they wish to work.
2013/2014 QS Global 200 Business Schools Report.
"Unlocking the world’s top 200 business schools according to MBA employers," BY Nunzio Quacquarelli (MA Cambridge, MBA Wharton) and Danny Byrne (BA Oxford, MA University
OECD Countries' expenditures for post-secondary education
"In 2010, the United States spent $11,826 per full-time-equivalent (FTE) student on elementary and secondary education,
an amount 39 percent higher than the OECD average of $8,501. At the postsecondary level, U.S. expenditures per FTE student
were $25,576, almost twice as high as the OECD average of $13,211."
East Asia leads the world in academic research funding. — Businesses are investing the equivalent of $100,000 in each research scholar in South Korea to carry out
work in innovation and research on their behalf. Singapore is in second place with $85,500 per academic, with the Netherlands are third with $75,000. The US takes 14th
place with industry contributing $25,000, the UK is in just 26th place. More August 2013.
"The Chronicle of Higher Education has a new tool out that answers just
Picture and quotation: Edudemic connecting education & technology.
Faculty salaries at public universities worldwide.
Survey summary published by Inside HigerEd 22 March 2012.
India’s higher education challenges Abstract: "India, with the world’s second largest higher education system and a rapidly growing economy as one of the
BRIC nations, faces significant challenges in building both capacity and excellence in higher education. India’s higher education system is characterized by
'islands of excellence in a sea of mediocrity.' The mainstream universities are recognized as lacking in quality. Only the Indian Institutes of Technology and
related institutions garner international recognition. This article analyzes the challenges facing India’s higher education system in the twenty-first century."
By Philip G. Altbach, Monan University Professor and director of the Center for International Higher Education at Boston College.
See also Higher Education Across Asia. An Overview of Issues and Strategies a detailed report by
the Asian Development Bank, November 2011.
It all depends how you measure