Higher Education- An Economic Outlook

Abstract

The modern concept of education is rational and scientific in its approach and stresses on the need of education for all. Today education has become one of the basic necessities of human life like food, clothing and shelter. As a result, the number of enrolment has been increasing on one hand and the number of educational institutions has also been increasing on other hand. This is very true in the case of higher education. In fact, higher education has a great economic value in terms of employment and income. In recent times, there has been change in the aspiration of young person i.e., both men and women are in a hurry to finish their studies and start earnings. It means that money making has been the centre of all social, political and economic life. This is possible only through the medium of job and income opportunities oriented higher education. It is seen that people prefer to take up those courses and training which are linked to more and more jobs and income opportunities. Thus, pursuing higher studies for academic purpose is no longer the aim of education in both developed and under developed countries. In fact, the economic importance of higher Education has a great impact on the individual, social and national life. Therefore, education is regarded as an economic goods which satisfies human wants and fulfil the objectives of life. It makes man a social as well as an economic being. An attempt is made in the study to highlights the economic importance of higher education in the post modern society.

Keywords:Higher Education, Economic life, Social life, Infrastructure