Education Vs Higher Education Essay

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with economic growth we observe the increase of the knowledge-based economy which requires education and skills to secure it in the future. With failure in emphasizing investments in education systems, countries may lose opportunities in world trade, come across higher unemployment rates, more inequality which contributes to slowing growth and the wheel spins again and again. Entrepreneurial thinking :
With economic growth, people are watching businesses prosper, new technologies appear and the appearance of a new world characterized by innovative thinking and globalization. Countries get more open to each other and people recognize that they have a more favorable environment to think of launching a business or to diversify their revenue
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They should consider efficient education spending, not just additional resources. The most important objective of education is preparing young people to be more active and informed change…show more content…
(Appendix D&E&F) These data about Canada reflects that there is a positive correlation between higher quality of education ( expressed in Math achievement ) and GDP growth.But they deny any correlation between the quantity of education ( expressed in Mean of years of education of women and men between the age of 15 and 24) and GDP growth.
It is also better to put money into primary education is much more important than higher education because the same amount of money could reach many more people.
There is strong evidence that cognitive skills of people are powerfully related to long-run economic growth rather than mere school attainment. We proved that there is a strong robust relationship between skills and growth. Skills together with the quality of economic institutions would lead to growth on the long-run but it also requires patience.
(Appendix G) These scatter Plots shows the relation between the enhancement of quality of education ( Mean PISA score ) and quantity of education ( Mean years of schooling ) with investment in education ( education expenditure as a share of GDP
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