Impact Of Learning On Economic Process.

Technological change requires strong and ongoing communication between education and work, says Andrew Palmer. The worst elements of such a system are now emerging THE reception area consists of a section of a trailer that has been removed, where guests are waiting to be picked up. This place is made of wood and glass. In each room the talk is code, web development and data science. At first glance the London office of the General Assembly looks like any other technical startup. But there is one big difference: while many firms use technology to market their products online, the General Assembly uses the physical world to teach technology. Its office is also a compass. The rooms are full of students who read and practice the code, many of whom have left their jobs here. Full-time participants pay between £ 8,000 and £ 10,000 ($ 9,900-12,400) to learn the languages ​​of digital economics in a 10-12 week program. The General Assembly, which has campuses in 20 cities from Seattle to Sydney, has a student body of 35,000. Most of those enrolled in the full-time ministry are expected to take on new jobs. The company's curriculum is based on discussions with employers about skills that are seriously lacking. It hosts "meeting and hiring" events where firms can see coding work done by their students. Career counselors assist students with their presentation and discussion strategies. The General Assembly measures its success by determining how many of its students get paid, permanent, and full-time employment in the field they desire. For its 2014-15 harvest, three quarters used customer counseling services, and 99% of those hired within 180 days of starting their job search. The company's founder, Jake Schwartz, was inspired to start the company with both of his experiences: a drifting spell after realizing that his Yale degree did not give him practical skills, and a two-year MBA that he felt costly and costly: "I wanted to change investment in education the skills that employers trusted. " In wealthier countries the link between learning and leadership tends to follow a simple rule of thumb: get as much formal education as possible in the first life, and reap the same rewards throughout your career. The literature suggests that each additional school year is associated with an 8-13% increase in hourly wage. In the wake of the financial crisis, the cost of dropping out of school is very clear. In the United States, the unemployment rate is slowly declining as you climb the ladder of education. Many believe that technological change only strengthens the case for further education. Jobs for regular or offshore jobs have declined. The typical flipside of this observation is that the number of jobs requiring greater cognitive ability was growing. The labor market is a fork, and those with a college degree will switch to a line leading to the highest paid jobs. The truth seems to be more complex. The return to education, even for the highly skilled, is clear. Between 1982 and 2001 the average salary earned by American bachelor's employees increased by 31%, while high school graduates did not leave, according to the New York Federal Reserve. But over the next 12 years, the salaries of college students fell sharply toward those of less educated peers. Meanwhile, tuition fees at universities have been rising. The question of degree, and then others The decision to go to college still sounds good to many, but the idea of ​​a mechanical relationship between education and income has taken time. A recent study by the Pew Research Center showed that an estimated 16% of Americans think a four-year course prepares students well for a high-paying job in today's economy. One of these could be the result of the cycle of financial crisis and its economic consequences. Some of it could be just a matter of supply: as more and more people hold college degrees, the corresponding premium goes down. But technology seems to confuse the picture.