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The Impact of the Financial Crisis on Tertiary Education Institutions

The Impact of the Financial Crisis on Tertiary Education Institutions. Jamil Salmi OECD Conference 29-30 June 2009. impact of the crisis. how resource flows are affected responses of tertiary education institutions scenarios for the tertiary education sector implications for governments

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The Impact of the Financial Crisis on Tertiary Education Institutions

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  1. The Impact of the Financial Crisis on Tertiary Education Institutions Jamil Salmi OECD Conference 29-30 June 2009

  2. impact of the crisis • how resource flows are affected • responses of tertiary education institutions • scenarios for the tertiary education sector • implications for governments • opportunities

  3. resources flows • reduced government funding for teaching, research and student aid • reduced resources for institutions as demand falls (new domestic and foreign students, dropouts)

  4. resource flows (II) • fewer resources from private sector (donations, contracts) • fall in stock market values reduces value of endowments and pension funds

  5. differential effects • scope of crisis • business model and financing strategy • how endowment resources are used • balance among various sources of income • country and type of institution

  6. response of tertiary education institutions • budget cutting measures • revenue generation

  7. budget cutting measures • employment-related • programs and academic organization • students (number, teacher/student ratio) • efficiency measures

  8. revenue generation strategies • demand-linked measures • financial measures

  9. strengthening financial planning and management • information and monitoring • fund-raising strategy and team • investment strategy • contingency planning

  10. scenarios for the tertiary education sector • graduate unemployment • shifting demand (from long to for shorter duration programs, private to public, foreign to domestic) • increased inequality • deteriorating quality (with fewer resources)

  11. implications for governments • increase scholarships and establish / strengthen student loan programs • include tertiary education in economic stimulus plans • R&D • capacity building • entrepreneurship for innovation

  12. opportunities • innovations and startups • attracting foreign students • developing domestic private sector • philanthropy

  13. opportunities • efficiency gains and no-frill options • implementing structural reforms • strategic focus • new academic model • new business model

  14. conclusion • differential effects depending on context and strategic positioning • short term reactions vs. long term realignment

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