Taking higher education as a market seriously. Insights from Chile

The increasing participation rate in higher education has raised its own issues, such as how to fund the growth while retaining the quality of education. In Finland, it has been argued that the tuition-free higher education policy increases equality. On the other hand, in the United Kingdom, establishing a system of tuition fees supported by an income-contingent loan system for students has also been argued to increase equality. In Australia, students also face high tuition fees for higher education, as well as a support system focused on domestic students. In addition to tuition fees, entrance examinations also play a crucial part in higher education systems. In order to examine inequalities in higher education from the students’ point of view, tuition fees are scrutinised in connection with equality, and entrance examinations in relation to cultural reproduction. Comparing examples of higher music education institutions in Finland, the United Kingdom, and Australia shows that there are large differences between the tuition fees charged for domestic and international students, as well as between countries. Entrance examinations in higher music education are similar in these countries, but may include inequalities based on long traditions in the field of music, especially in classical music. By revealing misconceptions about equity in higher education, it is possible to have a critical debate about the role of tuition fee systems as they are connected with the economics of higher education, and about entrance examinations as reproducing social class inequalities. This discussion may contribute to the redefinition and reformation of more equitable and just education systems, and promote equality in general in society.

since 1999 began to enter the rapid enrollment expansion of colleges and universities, Chinese higher education has experienced vigorous development, our country's higher education five years earlier than scheduled time is in 2005 entered the stage of popular education stage, the elite education, along with the arrival of the stage of popularization of higher education, higher education is faced with many problems, at present our country's higher education has been from quantity growth to quality improvement stage, improve quality, go the way of connotative development is our country's higher education reform and development of the core task. The higher education from elite education to popular education backgroundThe influence of economic factors.Since 1997, the economic crisis of southeast Asia to make the entire Asian economy overshadowed, almost all of the country's foreign trade are badly affected, exports to the survival of China's economic growth were hit by an unprecedented countries began to develop policies to expand domestic demand, adjust the national economy from dependence on foreign economic model for the internal and external and repairing.In February 1999, the Asian development bank economist Dr Shang Min with Asian school of management professor xiaolei zuo planning out the weak economic stimulus plan.I.e., increasing the speed of 25 ~ 30% per year, 3 years to make our university (including adult college) enrollment volume doubled.[1]Chinese people, especially the farmers most will not advance consumption, like save money, however, they are willing to invest money in the next generation, especially on their children's education.The adjustment of education policy.The party central committee and the state council held after the reform and opening to the outside of the third national education work conference on the eve of the premier of the state council office meeting made greatly expand the scale of enrollment of institutions of higher learning.During the meeting, zhu announced the decision.When the decision is mainly caused by: (1) the sustained and rapid development of China's economic and social needs more high-quality talent; (2) the people common desire their children to receive higher education, the government has a responsibility to try to meet their desire; (3) the enrollment expansion of colleges and universities can also delay the high school graduates employment, increase the education consumption, stimulating domestic demand, driving the development of relative industries; (4) the past enrollment ratio is too low for a long time, difficult to get into college, affected the full implementation of quality education in basic education.In the third national education work conference announced that greatly expand the scale of enrollment in colleges and universities, and make the meeting greatly expand the scale of enrollment in colleges and universities.[2] On June 13, 1999, the party central committee and the state council issued "the central committee of the communist party of China, the state council on deepening education reform and comprehensively promote quality education decision" points out, through various forms to actively developing higher education, in 2010, our country higher education enrollment rate of school-age population from the current 9% to 9%.Therefore, colleges and universities throughout the country entered the history of higher education since the founding of the one of the biggest expansion, higher education of our country has entered an unprecedented development in the new period, historic changes have taken place in higher education scale, in as little as five or six years, the university recruitment of students scale for nearly three times, the results showed that in 2005 mainland China school-age youth school enrollments in colleges and universities ranking second in

Sustainability of any aquaculture venture especially for enhanced food security and socio-economic development of the target population is the challenge of the new millennium. With the right environment and best management practices (BMPs), the envisaged expectations of the integrated investment can be achieved. This paper compares the economic performance and environmental friendliness of two adaptive integrated aquaculture systems at Njala University fish farm, Sierra Leone. The studies were carried out for six months (June-November, 2014). Fish, rice cum piggery and fish, rice cum poultry production integration platforms were set up to perfect the ideas of integrated fish farming in Sierra Leone. Water quality parameters measured biweekly included: dissolved oxygen, water temperature, pH, water hardness, water alkalinity, ammonia, nitrate, BOD and nitrite. These parameters were determined using Jenway analytical probes and Pondlab multi-parameter kits. Three samples were collected in thoroughly washed 600ml water bottles at each sampling point. Water quality parameters determined in the studies were found to be within the recommended range for the culture of tropical fish species and were not also statistically significant (p<0.05). However, the pH of adaptive research platform (ARP) was slightly acidic. Economic analysis gave a negative incremental benefit and Net Present Value (NPV) for the fish, rice cum piggery synergy in the first year. The calculated benefit/cost ratio for the pig, rice cum piggery production was positive but below 1 (0.87).The system had a negative NPV (-Le 2,990,708), and a payback period of 1.33 years; a net profit of Le 8,944,000 with a gross profit margin of 0.46. The fish, rice cum poultry production, however, gave a positive NPV (Le 841,930.32 (US189.3)) and a cost – benefit ratio of 1.02. Net profit, Gross Profit Margin and the payback period calculated for the investment were Le 13,892,000, 0.34 and 0.98 years, respectively. The poultry project broke even and payback in the first year while the piggery project did not but can only break even and pay back in the second year of production. The culture of genetically poor fish fingerlings, high construction costs of the adaptive research platform, scale of operation and pricing of the farm produce were seen as major causes of reduced profitability. The results obtained from the study, clearly indicate that the two integrated synergies have the potential to help solve the problems of hunger and poverty in Sierra Leone, especially among the rural poor that constituted more than 70% of the population. Key words: Cost-benefit, Integrated aquaculture, Water quality, Sierra Leone, grassroots farmers

The concept of Net Present Value (NPV) is a widely accepted tool for verification of financial rationality of planned investment projects. Projects with positive NPV increase a company’s value. Similarly, those with negative NPV lead to a decline in the value of a business. This article attempts to answer the question: are projects with negative NPV always disadvantageous in terms of maximization of shareholder value and when should an NPV-negative project be considered justified?The authors discuss the issues of project valuation depending on different conditions. First, they briefly summarize the main idea of valuation – the aim of every company is to maximize shareholder value. Contemporary professional texts say that the way to achieve this goal is through projects that can generate a positive Net Present Value. When there are no such investments within reach, the company should pay dividends to its owners. The authors claim that some circumstances justify investments with a negative Net Present Value, as they still produce maximum possible shareholder value. The three model situations where this takes place are: (1) tax on dividends; (2) shareholders’ perception of risk; and (3) temporary inefficiency of the markets.Taxes on dividends reduce cashflows for shareholders from distributed dividends. Therefore, they act exactly as an investment with a negative NPV. The authors conclude that this creates an opportunity to maximize shareholder value by comparing this loss with available alternate projects with negative NPV. If the loss of worth, caused by such taxes, is bigger that the negative NPV of possible investments it will be more rational to invest instead of paying dividends. And, according to the authors, a project with a negative NPV leads to maximized shareholder value.In the second situation, the authors point out that some projects may have negative fundamental (intrinsic) value when valuated by the market (diversified owners) because of their higher expected rate of return. In the same circumstances, an undiversified shareholder may have a different perception of the investment. It is highly possible that he would be ready to accept a lower rate of return in exchange for more safety for his capital. The authors conclude that negative fundamental value (based on the market situation) may be of importance for such shareholder as he prefers projects with lower risk and a lower rate of return.Temporary inefficiencies of the markets may produce a risk of bankruptcy or liquidity problems. The authors argue that NPV-negative projects may be a way to free additional cashflows, which will allow the financial restructuring of the company.

The availability of free funds in the economy is usually associated with the investment process. In the specialized literature, various methods for assessing investments are known, but one of the fundamental methods of assessing investments is related to the calculation of the NPV (Net Present Value) indicator. According to the generally accepted rule, an investment is profitable if there is an NPV greater than zero. A negative NPV indicates that the investment is loss-making and should be rejected. However, this rule is derived under certain conditions. This paper shows a peculiarity in the assessment of investments related to the fact that in conditions of recession there are situations in which an investment with a negative NPV can be accepted. The article uses financial mathematics methods, in particular formulas for accruing interest and discounting future cash flows. Three options are considered in the presence of free cash – to keep it at home, to deposit it on a bank and to invest. Through concrete examples, it has been shown that in conditions of low deposit interest rates and high bank account service fees, it is possible that an investment with a negative NPV would be preferable, which refutes the generally accepted claim in theory.

This article performs a valuation analysis of LLP Compression in project investment plan at Tango Field in Mehacca Block. The LLP Compression investment project plan is currently under consideration for a Final Investment Decision (FID). The analysis is conducted by using quantitative methodology approach to evaluate 2 project scenario based on its cash flow. The outcome of financial valuation could assist decision maker in the company, in determining whether the project is economically profitable, whether it should be executed, what scenario can generate maximum economic profit for the company, and also what financial factor affecting LLP Compression Project cash flow that should be managed to avoid negative financial results and to forecast project likelihood of success. For DCF analysis, with company discount rate at 10.2%, the Net Present Value (NPV) result is 1.12 Million USD for Scenario 1 and 0.91 Million USD for Scenario 2. Internal Rate of Return (IRR) for both scenarios are higher than company’s discount rate. Payback Period for both scenarios are also the same in year 2026, or 2 years after production. Profitability Index (PI) for Scenario 1 is slightly higher than Scenario 1 amounting at 1.07, while PI for scenario 2 is 1.03. All of the parameters from DCF gives positive result more than expected return, with scenario 1 that provide better value than scenario 2. Monte Carlo simulation is also used to provide a likelihood of having a negative NPV. The result is that both scenarios have probability negative NPV amounting 28% for scenario 1 and 30% for scenario 2. Based on Monte Carlo Simulation result, scenario 1 has slightly lower probability of generating negative NPV than Scenario 2. Sensitivity analysis is also being used to look how large NPV project varies if the parameter inputs are changed. Four parameters tested with assumption change at ± 25% from original condition. Based on sensitivity analysis, it is observed that Gas Production, Gas Price are the most sensitive parameter for both scenarios of LLP Compression project. In summary, the LLP Compression Project investment plan is feasible to be executed for both scenarios, with scenario 1 provides higher economic profit than scenario 2, and it also generates slightly lower probability negative NPV than scenario 2. Since LLP Compression Project has probability of gaining negative NPV based on Monte Carlo Simulation Result, hence several strategies to minimize project risk exposure are required to be determined before project execution.

Economic comparisons of variable rate irrigation and fertigation with fixed (uniform) rate irrigation and fertigation and pre-plant fertilizer management for maize in three soils

To help meet the challenge brought about by recent educational trends implied in the foregoing questions, the writer planned and followed through a study entitled influence of the General Education Movement upon Home Economics in Higher Education in Some Selected Southern States. This study is one among a large number of projects included in the experimental program of grants-in-aid for college professors sponsored by the Carnegie Foundation for the Advancement of Teaching. The majority of institutions offering home economics in South Carolina, North Carolina, and Tennessee, were included in this particular study. The purpose of the study was to better understand the trend of recent movements in general education and to discover the specific ways in which these movements have affected home economics in higher education. It was aimed toward strengthening home economics offerings and co-ordinating these offerings more closely with the whole school program, looking toward a strong, unified program of general and professional education. The sources of information were college catalogues, questionnaires, and personal visits including interviews.

Although the current economics education system in universities in China differs from developed Western countries, China has been deliberately emulating the economics education system in the West over the past two decades, a system that has been repeatedly criticized by international movements such as the “Post-Autistic Economics Movement” and the “International Student Initiative for Pluralism in Economics.” This article argues that the dominant position of mainstream Western economics in Chinese higher education contradicts the scientific principles of pluralism and does not align with China’s national conditions and the necessity for the development of a philosophy and social sciences with Chinese characteristics. Based on the proposals put forward by faculty and students involved in the international movement for the reform of economics education over the past 22 years, this article recommends reforms to address the major weaknesses of economics education in China. The reforms address ten areas for improvement, including the overall goals of pluralism in economics education, curriculum design, teaching methods, an independent academic evaluation system, faculty development, and the evaluation of academic disciplines. The purpose of these reforms is to destabilize the dominant position of mainstream Western economics in higher education in China and gradually establish a new economics education system with a curriculum based on a plurality of approaches, a variety of critical pedagogies, and a methodology of problem-based learning.

Although the current economics education system in universities in China differs from developed Western countries, China has been deliberately emulating the economics education system in the West over the past two decades, a system that has been repeatedly criticized by international movements such as the “post-autistic economics movement” and the “International Student Initiative for Pluralism in Economics.” This article argues that the dominant position of mainstream Western economics in Chinese higher education contradicts the scientific principles of pluralism and does not align with China’s national conditions and the necessity for the development of a philosophy and social sciences with Chinese characteristics. Based on the proposals put forward by faculty and students involved in the international movement for the reform of economics education over the past twenty-two years, this article recommends reforms to address the major weaknesses of economics education in China. The reforms address ten areas for improvement, including the overall goals of pluralism in economics education, curriculum design, teaching methods, an independent academic evaluation system, faculty development, and the evaluation of academic disciplines. The purpose of these reforms is to destabilize the dominant position of mainstream Western economics in higher education in China and gradually establish a new economics education system with a curriculum based on a plurality of approaches, a variety of critical pedagogies, and a methodology of problem-based learning.

Improving access to higher education for the ethnic minorities and gender balance in academia: still some way to go.

In this paper, we conducted descriptive quantitative research on the assessment of virtual reality (VR) technologies in higher education in the countries of the Pacific Alliance (PA). Specifically, differences between PA countries in terms of the above perceptions were identified and the behavior of the gender and knowledge area gaps in each of them was analyzed. A validated quantitative questionnaire was used for this purpose. As a result, we found that PA professors express high ratings of VR but point out strong disadvantages regarding its use in lectures; in addition, they have low self-concept of their digital competence. In this regard, it was identified that there are notable differences among the PA countries. Mexico is the country with the most marked gender gaps, while Chile has strong gaps by areas of knowledge. We give some recommendations towards favoring a homogeneous process of integration of VR in higher education in the PA countries.

This paper explores how faculty in Kazakhstan perceive the current and potential effects of the Russia-Ukraine war and sanctions on internationalization and international mobility in higher education in the Central Asian country. The purpose of the study was to provide some initial insights into the perceived effects of the conflict on international mobility and higher education in the country, which has the longest border with Russia. The study uses grounded theory as an approach to research design. The data was collected via semi-structured interviews whereby the participants were selected from among faculty of Kazakhstani universities using a combination of snowball and maximal-variation sampling approaches. The results of the analysis revealed that the participants interpret the impacts of the conflict predominantly in neoliberal terms with only some faculty members noting potential effects in terms of academic colonialism. Identified themes are best interpreted in terms of the conceptual construct of capital. We suggest a combination of several capital theories as a potential theoretical framework for understanding perceptions of the effects of war on internationalization and international mobility in higher education.

Bulgarian Higher Education and the Knowledge Society

The problem of the cost-benefit ratio in higher education is rooted in an economy that views education primarily as an economic or productive activity. It also contrasts educational costs and benefits within the context of educational investment. An analysis of the cost-benefit ratio in higher education reveals that while the current cost-benefit ratio in higher education in my country is significant, its efficiency is significantly lower than the efficiency of labor costs. Therefore, in order to improve the efficiency of higher education in the country, it is necessary to ensure the dominant position of teachers in the field of education and to create a rational, diversified system of investment and financing of higher education.