| Peer-Reviewed

Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh

Received: 1 July 2015     Accepted: 8 July 2015     Published: 13 August 2015
Views:       Downloads:
Abstract

Globally education is the important factor to access in the market driven force which changes economic benefits. Higher education is adding value in the process of economic advancement of a country. The study raised the question to examine the impact of higher education of Bangladesh in the process of raising economic productivity. This study also assesses the standard of higher education of Bangladesh and further evaluates impact of higher education on economic productivity of the country. An opinion poll was conducted. The study recommends that quality of education should be maintained and more investment in the higher education ought to be provided from the budgetary allocation. Bangladesh needs global education which should have international benchmark so that society can improve in efficient and effective manner. If return on invested capital in education becomes efficient and effective for adding value and creating corner stone which ultimately helps to attain competitive advantage. To ensure quality education, pedagogy should be designed in such a way that fulfillment of global as well as domestic needs are possible following the standard curricula with practical exposure and outcome based teaching and learning system

Published in Journal of World Economic Research (Volume 4, Issue 5-1)

This article belongs to the Special Issue The Globalization and Economic Structure Changes

DOI 10.11648/j.jwer.s.2015040501.16
Page(s) 40-52
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Higher Education, Economic Productivity, International Benchmark, Bloom’s Taxonomy, Outcomes-based Teaching and Learning

References
[1] Ahmmed, Md. Mortuza (2013). ‘’Higher Education in Public Universities in Bangladesh’’, Journal of Management and Science, Vol. III, No. 2, June .
[2] Alam, Mahmudul (2013). “Private Higher Education in Bangladesh: Issues of Quantity, Quality and Ways ‘’,Forward Keynote paper at The Seminar on Higher Education in Bangladesh December 16 organized by Northern University Bangladesh (NUB), Dhaka.
[3] Bangladesh Bureau of Statistics (2015).
[4] Blundell, Richard, Dearden, Lorraine, Meghir, Costas, and Sianesi, Barbara (1999).”Human Capital Investment: The Returns from Education and Training to the Individual, the Firm and the Economy”, Fiscal Studies, Vol. 20, No. 1, pp. 1–23.
[5] Brown, Phillip and Lauder, Hugh (1996).” Education, globalization and economic development”, Journal of Education Policy , Volume 11, Issue 1,pages 1-25.
[6] Clark, Dorie (2013). Reinventing You: Define Your Brand, Imagine Your Future, Harvard Business Review Press. April 9.
[7] Dukkipati, Rao V. (2010). Mechanical Vibrations (English) (Paperback) , Narosa Book Distributors Pvt Ltd.
[8] De Meyer, A. (2012). Environmental influences reflections on the globalization of management education., Journal of Management Development, Volume:31,No.4,pp. 336-345
[9] Dukkipati, Rao V. (2010). Mechanical Vibrations (English) (Paperback) , Narosa Book Distributors Pvt Ltd.
[10] Hanushek, Eric A., Woessmann, Ludger ( 2007).”The Role of Education Quality for Economic Growth”, World Bank, Washington, DC. https://openknowledge.worldbank.org/handle/10986/7154 License: CC BY 3.0 IGO.”
[11] Heckman,James J.(2000).” Policies to foster human capital “, Research in Economics, Volume.54,pp.3-56.
[12] https://en.wikipedia.org/wiki/Kaldor%E2%80%93Hicks_efficiency (access date 15 May,2015)
[13] http://www.goodreads.com/quotes/45514-generosity-is-giving-more-than-you-can-and-pride-is(access date 15 May,2015)
[14] http://www.learnnc.org/lp/pages/4719,Bloom's Taxonomy by Heather Coffey (access date 11 March,2015).
[15] http://siteresources.worldbank.org/EDUCATION/Resources/278200-1121703274255/1439264-1193249163062/Bangladesh_countrySummary.pdf. (Access date:23 February,2015)
[16] http://www.heqep-ugc.gov.bd/ (Access date:23 February,2015)
[17] http://www.topuniversities.com/university-rankings/asian-university-rankings/2015#sorting=rank+region=+country=+faculty=+stars=false+search=(accessed on 25 June,2015)
[18] Jonathan (accessed on 17.05.2013),” Is It Time to Reinvent Yourself?’,http://advancedlifeskills.com/blog/is-it-time-to-reinvent-yourself/
[19] Khaled, Sarwar Md. Saifullah (2014).’’ Problems and prospects of higher edn in Bangladesh’’, News Today, May 21
[20] MacMahon,Walter W.(1992).”The contribution of Higher education to R&D and Productivity growth”, Higher Education and Economic Growth, William E. Becker Jr., D.R. Lewis (editor), Springer Science & Business Media,pp.115-116.
[21] Malan, SPT (2000).”The 'new paradigm' of outcomes-based education in perspective”, Journal of Family Ecology and Consumer Sciences, Vol 28, 2000, pp.22-28
[22] Mazumder,Qamrul H.(2012).”Quality improvement in higher education in Bangladesh”, The Daily Sun, October 22
[23] Monem, Mobasser and Baniamin,Hasan Muhammad (2010).”Higher Education in Bangladesh: Status, Issues and Prospects “,Pakistan Journal of Social Sciences (PJSS),Vol. 30, No. 2 December, pp. 293-305 .
[24] Oplatka I. (2014). “Understanding teacher entrepreneurship in the globalized society”, Journal of Enterprising Communities: People and Places in the Global Economy, Voulme: 8,No.1,pp. 20-33.
[25] Olssen , Mark and Peters,Michael A.(2005). ‘‘Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism’’, Journal of Education Policy , Volume 20, Issue 3,pp. 313-345.
[26] Psachropoulos, George (1994).” Returns to Investment in Education: A Global Update “, Pergamon -World Development, Vol. 22, No 9, pp. 132-143.
[27] Sarkar , Shakhawat Hossain, Rana , Shohel , Zitu, Rudaba Afrin (2013).’ Challenges of Quality Higher Education in Bangladesh: A Study on Public Universities”, Journal of Education and Practice , Vol.4, No.8.
[28] Schultz, Theodore W.(1961).”Investment in human capital”, The American Economic Review, Vol.51,No.1,March,pp.1—17.
[29] Siddiqi, Dr. Hafiz G. A.(2014).” Higher education tailored to economic development”, The Daily Star,March,12
[30] Wadud, Mushfique (2013). “NU failing to ensure quality education since its inception “,Dhaka Tribune, http://www.dhakatribune.com/education/2013/aug/02/nu-failing-ensure-quality- education-its-inception#sthash.Immb60kN.dpuf
[31] Weiner , Sharon A, Jackman, Ana W., and Warren, Glen (2014). "America's Missing Link: Educational Reform and Work force Development”, Libraries Faculty and Staff Presentations, Paper 54. http://docs.lib.purdue.edu/lib_fspres/54
[32] Williams, Serena E.(2014). "Education and Economic Development: An Untapped Alliance" ,Honors Theses. Paper 202
[33] World Bank (2014).”Bangladesh: Connecting Minds in Higher Education”, http://www.worldbank.org/en/news/feature/2014/03/19/bangladesh-connecting-minds-in-higher-education,March 19Wu (Access date:23 February,2015)
[34] Wu, Feng-Shang and Haak, Robert (2013).” Innovation Mechanisms and Knowledge Communities for Corporate Central R&D”, Creativity and Innovation Management, Volume 22, Issue 1, Blackwell Publishing Ltd, pp. 37–52, March.
Cite This Article
  • APA Style

    Muhammad Mahboob Ali, Vichayanan Rattanawiboonsom, Sudhir K. S. Yadav. (2015). Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh. Journal of World Economic Research, 4(5-1), 40-52. https://doi.org/10.11648/j.jwer.s.2015040501.16

    Copy | Download

    ACS Style

    Muhammad Mahboob Ali; Vichayanan Rattanawiboonsom; Sudhir K. S. Yadav. Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh. J. World Econ. Res. 2015, 4(5-1), 40-52. doi: 10.11648/j.jwer.s.2015040501.16

    Copy | Download

    AMA Style

    Muhammad Mahboob Ali, Vichayanan Rattanawiboonsom, Sudhir K. S. Yadav. Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh. J World Econ Res. 2015;4(5-1):40-52. doi: 10.11648/j.jwer.s.2015040501.16

    Copy | Download

  • @article{10.11648/j.jwer.s.2015040501.16,
      author = {Muhammad Mahboob Ali and Vichayanan Rattanawiboonsom and Sudhir K. S. Yadav},
      title = {Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh},
      journal = {Journal of World Economic Research},
      volume = {4},
      number = {5-1},
      pages = {40-52},
      doi = {10.11648/j.jwer.s.2015040501.16},
      url = {https://doi.org/10.11648/j.jwer.s.2015040501.16},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.s.2015040501.16},
      abstract = {Globally education is the important factor to access in the market driven force which changes economic benefits. Higher education is adding value in the process of economic advancement of a country. The study raised the question to examine the impact of higher education of Bangladesh in the process of raising economic productivity. This study also assesses the standard of higher education of Bangladesh and further evaluates impact of higher education on economic productivity of the country. An opinion poll was conducted. The study recommends that quality of education should be maintained and more investment in the higher education ought to be provided from the budgetary allocation. Bangladesh needs global education which should have international benchmark so that society can improve in efficient and effective manner. If return on invested capital in education becomes efficient and effective for adding value and creating corner stone which ultimately helps to attain competitive advantage. To ensure quality education, pedagogy should be designed in such a way that fulfillment of global as well as domestic needs are possible following the standard curricula with practical exposure and outcome based teaching and learning system},
     year = {2015}
    }
    

    Copy | Download

  • TY  - JOUR
    T1  - Higher Education for Economic Progress in a Global Framework with Special Reference to Bangladesh
    AU  - Muhammad Mahboob Ali
    AU  - Vichayanan Rattanawiboonsom
    AU  - Sudhir K. S. Yadav
    Y1  - 2015/08/13
    PY  - 2015
    N1  - https://doi.org/10.11648/j.jwer.s.2015040501.16
    DO  - 10.11648/j.jwer.s.2015040501.16
    T2  - Journal of World Economic Research
    JF  - Journal of World Economic Research
    JO  - Journal of World Economic Research
    SP  - 40
    EP  - 52
    PB  - Science Publishing Group
    SN  - 2328-7748
    UR  - https://doi.org/10.11648/j.jwer.s.2015040501.16
    AB  - Globally education is the important factor to access in the market driven force which changes economic benefits. Higher education is adding value in the process of economic advancement of a country. The study raised the question to examine the impact of higher education of Bangladesh in the process of raising economic productivity. This study also assesses the standard of higher education of Bangladesh and further evaluates impact of higher education on economic productivity of the country. An opinion poll was conducted. The study recommends that quality of education should be maintained and more investment in the higher education ought to be provided from the budgetary allocation. Bangladesh needs global education which should have international benchmark so that society can improve in efficient and effective manner. If return on invested capital in education becomes efficient and effective for adding value and creating corner stone which ultimately helps to attain competitive advantage. To ensure quality education, pedagogy should be designed in such a way that fulfillment of global as well as domestic needs are possible following the standard curricula with practical exposure and outcome based teaching and learning system
    VL  - 4
    IS  - 5-1
    ER  - 

    Copy | Download

Author Information
  • Department of Business Administration, Faculty of Business and Economics, Daffodil International University, Dhaka, Bangladesh.

  • Department of Business Administration, Faculty of Business, Economics and Communications, Naresuan University, Phitsanulok ,Thailand

  • Faculty of Commerce & Business Administration, Meerut College, CCS University, Meerut, India

  • Sections