Skills Requirements for a Knowledge Economy as a Determinant of Private Demand for Postgraduate Studies in Selected Universities in Kenya

Abstract

Although there has been a consistent increase in private demand for postgraduate studies in Kenyan universities, recent trends indicate a decline in postgraduate enrolment. This decline presents potential challenges in attaining both the objectives of the universities and Kenya's Vision 2030. Existing literature highlights that the decision to pursue postgraduate studies is influenced by various factors, one of which is skills requirements for a knowledge economy. Within this context, the primary aim of this study was to evaluate how skills requirements for a knowledge economy affects private demand for postgraduate studies in selected universities in Kenya. Employing an explanatory sequential mixed methods design, the study combined both quantitative and qualitative approaches to comprehensively examine the effects of skills requirements for a knowledge economy on private demand for postgraduate studies. The target population comprised all 60,515 students enrolled in Master's and PhD programmes in both public and private chartered universities in Kenya during the research period. The study employed a systematic random sampling technique to select 395 Master's and PhD students from four public chartered universities and three private chartered universities, which were purposefully selected. Data collection was done through the use of questionnaires and interviews. Quantitative data was analyzed using descriptive and inferential statistics, while qualitative data underwent thematic and content analysis. The regression model for skills requirements for a knowledge economy and private demand for postgraduate studies, yielded a regression coefficient of B = .447, signifying significance. However, with a probability level of p = .099 > .05 (at a significant level of p < .05), skills requirements for a knowledge economy emerged as a non-significant predictor of private demand for postgraduate studies. The study reveals that while pursuing postgraduate studies increases an individual's competitiveness and standing within an organization, it falls short of providing all the crucial skills required by the labour market. To address this, the study advocates for the integration of innovative studies into postgraduate programmess in universities in Kenya, thereby expanding the training institutions' offerings to meet the country's advanced skills needs. The study further recommends enhanced collaboration between universities and employers in both the private and public sectors, as well as relevant industries in the labour market. This partnership would facilitate the provision of accurate information, training opportunities, and employment prospects for postgraduate students, ultimately bridging the gap between their education and the skills demanded by the labour market. Keywords: Skills requirements, Knowledge economy, Private demand, Postgraduate studies.