Revolution at the Australian Education System - Essay Example

Insert Title Tutor Name Date Introduction Australia is one of the developed countries and it falls among the greatest world economies. The success of today is based on the development of the yester years in education, infrastructure, tourism and other sectors. The success of tomorrow will therefore depend on the efforts being made today in all the sectors and especially human capital investment. Unfortunately there are concerns according to the report on education revolution that the investments in education sector have stalled and could be lagging behind other developed countries Dixon & O' Mahoney (2010). Australia is not doing enough to invest in education, training and human capital. All these challenges will be overcome through a revolution in the education sector of Australia and general human capital investment if the country has to maintain its flourishing economy into the future. This paper carries an analysis of the government report on revolution in education as well as the steps being taken to respond to the challenges facing the country. There is also a discussion on the purpose of the education that should inform the education revolution policy. It is important to note and appreciate the fact that human capital plays a very important role in the economy of any country. The level of education and training in Australia is very important in provision of expertise and skilled labor in the future years. In the government report on revolution in education it is clear that Australia has things that need to be worked on. The continued economic prosperity of Australia will be sustained by increasing growth in skilled productivity. Australia is faced by major challenges such as population ageing, climate change, emerging economies like China and India and revolution in ICT which the country should also embrace (Henry 2009). Apart from these challenges the mega trends are also things to be considered in the growth of the economy. Natural resources are being depleted in the world, there is ageing of populations, divergent demographics, and mobile populations among other things. For Australia to remain powerful in the future in terms of economic strength there must be strategies for the revolution of the skills, training and education areas of the country. Investment in human capital is important in raising productivity which will in turn sustain economic growth into the future. It is however sad to observe that Australia is yet to pick up the challenge and revolutionize the education sector in the country. The government report on education revolution shows that currently Australia has done very little to invest in human capital. The resultant effect in the long run will be that Australia is likely to lag behind the other countries that are doing heavy investments in human capital. Growth in Australia’s productivity has dropped in the last few years. Low productivity growth in the country has been blamed on the little investment being done in human capital Henry (2009). There is widespread slackening in productivity growth based on industry level analysis done by productivity commission staff. Another analysis showed that the country faces a lower productivity growth in labor. At the moment investment in education is lower than expected. The investment done in health, skill and motivation which constitute human capital is still insufficient. Investment in education is done in early childhood, primary, secondary education, vocational education, skills, research and universities. In all these things the government report shows that Australia has remained behind the countries it is competing with. In early childhood education there is a low participation level for children under five years old. This is also blamed on a low investment level in this area. On pres school level of education the country spends only 0.1% of its GDP while the OECD average stands at 0.5%. From this statistics it has been shown Australia lags behind other countries in provision of services to the young children. Retention for students in Australia’s secondary schools is very low. Enough has not been done in the last few years since 2004 to increase these levels. There is a problem of skill shortages in Australia. This is blamed on the system of vocational education and training. Poor investment in these areas is the issue behind the shortages. Lack of investment in vocational education and training is something that has been there for some time and continues to date. The reserve Bank has warned that shortages exist in many industries and levels of skill Dixon & O' Mahoney (2010). The two suffer from insufficient resourcing. As a result Australia does not train adequate high level technicians as well as associate professional that can change the economy. The Australian industry group estimates that from 2006 onwards Australia will need 270,000 more workers who are skilled in the following 10 years. Many of these people need to receive training in the TAFE colleges and yet since 1998 TAFE colleges have turned away 300,000 people. Another area that is not being handled well is university education. From the government report there are no plans in Australia to increase people’s participation levels in tertiary education which is critical for boosting human capital Rudd and Smith (2007). In the last decade Australia has been the only country among the developed countries to cut down its investments in university and college education. It is reported that since the year 1995 the investment of Australia in tertiary education has back tracked by 7% as other countries in OECD move forward by 48%. Research is important in development of the economy of Australia. Strong academic institutions will be able to drive research activities. According to various international surveys the university sector does not drive innovation as what would be expected in a developed country. When compared to universities in East Asia, North America and Europe universities in Australia receive poor ratings. The research out put of Australia when measured on international standards is also reported to be low. This is an indication that the right steps are not being taken to improve on the quality and quantity of research and innovation in these universities. It is very clear that the declining levels of productivity in Australia are related to the low investment in human capital that is going on since the 1990s. The ‘Prime minister’s science, or the head of education and innovation council working group on Asia’ has indicated that there is ongoing inadequate investment in research infrastructure which can make it possible for Australia to compete well internationally. Even though things are yet to change it is necessary that this change be done with immediate effect. Without change being effected the participation of the workforce will be held back translating into a very sluggish or no economic growth at all Rudd and Smith (2007). Education and in this case that which has been revolutionized has a very important part to play in the expansion of the Australian economy. Education has the purpose of sustaining growth of the economy through a number of ways. It ensures that there is skilled labor force and that the labor market is fed by well trained personnel in various areas of productivity Rudd and Smith (2007). Education is the one that brings about innovation which is very much needed for a growing economy. In Australia investment in education as shown in the policy should result into a system that boosts productivity levels, living standards, growth, participation and the levels of individual understanding and training. Such an education system should be able to improve the living standards of the people, make their employment options wider and give them work that satisfies even more. Education should make people to have job security and to earn more money. Revolutionized education in Australia should be able to help the contrary overcome the challenges that come with the mega trends. Problems such as revolution in IT, change in global climate will be successfully overcome. When investments are made in human capital then the country will be able to raise the level of trained personnel who will in turn raise productivity in the country. Education should contribute to the participation of the workforce. When people receive better education they are enabled to take part in the work force for a longer time and can adapt to change very easily at their work places. They can also foster change in technology and diffusion (Rudd and Smith 2007).Revolution in the education sector should be geared at long term revolution in the economy. The investment made in education should also be used very efficiently to ensure that the revolution is sure. Conclusion In conclusion the dwindling productivity levels are indicators of the low investment levels that Australia has been doing in its education and human capital. From a survey of all the areas under human capital investment the response to the challenges facing the country is very much inadequate. More and more investment needs to be injected in the development of the education and training. Education is important to the country and its revolution will ensure that the economy of the country has future growth. Human capital investment should be stepped up so that Australia can keep pace with its competitors. It will as well be able to counter the challenges brought about by the megatrends and the changing global economic trends. Revolution in the education sector should be done in a way that investment is increase from the early childhood level to the mature level. Investments should also be made in motivation and health so that the entire human capital aspect is taken care of. References Dixon T. & O'Mahoney, J. 2010 Australia in the Global Economy 2010, Leading Edge Education, Pearson Australia Henry, K, (2009)The Shape of Things to Come' (address delivered at the QUT Business Leaders' Forum, Brisbane, 22 October 2009), available at http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=1643 Rudd K. and Smith S. (2007), The Australian economy needs an education revolution; new directions paper on the critical link between long term prosperity, productivity growth and human capital investment. Authorised by Tim Gartrell, ALP National Secretary19 National Circuit Barton ACT 2600. 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