economics - Learning Ecosystems

“Microcredentials Can Make a Huge Difference in Higher Education” [Riggs], education debt swells, + several other items re: HE

On 05/15/2023, in colleges, community colleges, cost of getting a degree, economics, faculty, higher education, law schools, learning ecosystem, liberal arts, parents, policy, student-related, United States, universities, by Daniel Christian

Microcredentials Can Make a Huge Difference in Higher Education — from newthinking.com by Shannon Riggs
The Ecampus executive director of academic programs and learning innovation at Oregon State University believes that shorter form, low-cost courses can open up colleges to more people.

That so much student loan debt exists is a clear signal that higher education needs to innovate to reduce costs, increase access and improve students’ return on investment. Microcredentials are one way we can do this.

As the Supreme Court weighs Biden’s student loan forgiveness, education debt swells — from cnbc.com by Jessica Dickler

KEY POINTS

As the Supreme Court weighs President Joe Biden’s student loan forgiveness plan, college tuition keeps climbing.
This year’s incoming freshman class can expect to borrow as much as $37,000 to help cover the cost of a bachelor’s degree, according to a recent report.

College is only getting more expensive. Tuition and fees plus room and board at four-year, in-state public colleges rose more than 2% to $23,250, on average, in the 2022-23 academic year; at four-year private colleges, it increased by more than 3% to $53,430, according to the College Board, which tracks trends in college pricing and student aid.

Many students now borrow to cover the tab, which has already propelled collective student loan debt in the U.S. past $1.7 trillion.

Access, Outcomes, and Value: Envisioning the Future of Higher Education — from milkeninstitute.org with Jeff Selingo, Gene Block, Jim Gash, Eric Gertler, and Nicole Hurd

Leaders of colleges and universities face unprecedented challenges today. Tuition has more than doubled over the past two decades as state and federal funding has decreased. Renewed debates about affirmative action and legacy admissions are roiling many campuses and confusing students about what it takes to get accepted. Growing numbers of administrators are matched by declining student enrollment, placing new financial pressures on institutions of higher learning. And many prospective students and their parents are losing faith in the ROI of such an expensive investment and asking the simple question: Is it all worth it? Join distinguished leaders from public and private institutions for this panel discussion on how they are navigating these shifts and how they see the future of higher education.

What the New ‘U.S. News’ Law-School Rankings Reveal About the Rankings Enterprise — from chronicle.com by Francie Diep

Excerpt (emphasis DSC):

This year’s lists also offer a hint of how widespread the rankings revolt was. Seventeen medical schools and 62 law schools — nearly a third of the law schools U.S. News ranks — didn’t turn in data to the magazine this year. (It’s not clear what nonparticipation rates have been in the past. Reached by email to request historical context, a spokesperson for U.S. News pointed to webpages that are no longer online. U.S. News ranked law and medical schools that didn’t cooperate this year by using publicly available and past survey data.)

Report: Many borrowers who could benefit from income-driven repayment don’t know about it — from highereddive.com by Laura Spitalniak

Dive Brief:

Student loan borrowers who would stand to benefit the most from income-driven repayment plans, or IDRs, are less likely to know about them, according to a new report from left-leaning think tank New America.
Around 2 in 5 student-debt holders earning less than $30,000 a year reported being unfamiliar with the repayment plans. Under a proposed plan from the U.S. Education Department, IDR minimum monthly loan payments for low-income earners, such as this group, could drop to $0.
Just under half of borrowers in default had not heard of IDRs, despite the plans offering a pathway to becoming current on their loans, the report said. Only one-third of currently defaulted borrowers had ever enrolled in IDR.

Addendum on 5/16/23:

A.I. Is Coming for Lawyers, Again [Lohr]

On 04/17/2023, in 21st century, 24x7x365 access, Access to Justice (A2J), Artificial Intelligence / Machine Learning / Deep Learning / Algorithms, economics, emerging technologies, future, game-changing environment, Legal operations, legal reform, legal technologies, legislatures / government / legal, tools, United States, universities, workplace, by Daniel Christian

A.I. Is Coming for Lawyers, Again — from nytimes.com by Steve Lohr (behind paywall)
Previous advances in A.I. inspired predictions that the law was the lucrative profession most likely to suffer job losses. It didn’t happen. Is this time different?

Excerpt:

But unless the past isn’t a guide, the impact of the new technology is more likely to be a steadily rising tide than a sudden tidal wave. New A.I. technology will change the practice of law, and some jobs will be eliminated, but it also promises to make lawyers and paralegals more productive, and to create new roles. That is what happened after the introduction of other work-altering technologies like the personal computer and the internet.

One new study, by researchers at Princeton University, the University of Pennsylvania and New York University, concluded that the industry most exposed to the new A.I. was “legal services.” Another research report, by economists at Goldman Sachs, estimated that 44 percent of legal work could be automated. Only the work of office and administrative support jobs, at 46 percent, was higher.

Lawyers are only one occupation in the path of A.I. progress. A study by researchers at OpenAI, the creator of ChatGPT, and the University of Pennsylvania found that about 80 percent of American workers would have at least 10 percent of their tasks affected by the latest A.I. software.

Also relevant/see:

039 | Micro-legal & AI Legal Help — from thebrainyacts.beehiiv.com

Making Change: How America’s Workforce is Responding to Rising Costs [guildeducation.com]

On 02/21/2023, in adult learning, business, corporate / business world, corporate universities / corporate training, economics, funding / grants, future, reinvent, society, staying relevant, surviving, United States, workplace, by Daniel Christian

Making Change: How America’s Workforce is Responding to Rising Costs — from insights.guildeducation.com

Taken together, the results show an American workforce focused on the long-term. Workers are managing to costs, but more than that, they’re making down payments on their future. This is a workforce motivated more than ever by a path to career growth and economic stability.

What the workforce wants in 2023 -- looking for more education, training, and long-term stability

National Apprenticeship Week [November 14-20, 2022]

On 11/15/2022, in business, career development, collaboration, corporate / business world, corporate universities / corporate training, economics, workplace, youth, by Daniel Christian

National Apprenticeship Week [November 14-20, 2022] — from apprenticeship.gov

Excerpt:

What is National Apprenticeship Week?
NAW is a nationwide celebration where industry, labor, equity, workforce, education, and government leaders host events to showcase the successes and value of Registered Apprenticeship for re-building our economy, advancing racial and gender equity, and supporting underserved communities. NAW is an opportunity to highlight how Registered Apprenticeship, a proven and industry-driven training model, provides a critical talent pipeline that can help to address some of our nation’s pressing workforce challenges such as rebuilding our country’s infrastructure, addressing critical supply chain demands, supporting a clean energy workforce, modernizing our cybersecurity response, and responding to care economy issues.

Also relevant/see:

Understanding New Collar Apprenticeships — from workshift.opencampusmedia.org; requires you to complete a form to get the guide
Apprenticeships aren’t what they used to be. Long a pathway into the trades, apprenticeships now are also preparing Americans for new-collar jobs in fields from healthcare to tech. And governments and companies are putting big money into modernizing, diversifying, and growing the system—hoping to change the face of apprenticeships. This guide takes a look at this evolving landscape.

Are Microcredentials Finally Gaining Traction? — from insidehighered.com by Joshua Kim

Excerpt:

This month, the London School of Economics expanded its degree partnership with 2U to launch a series of edX microcredentials that provide learners with a flexible, stackable pathway towards pursuing a fully online undergraduate education. Wim Van der Stede, LSE’s new academic dean for extended education, graciously agreed to answer my questions about these new programs.

In that time, we’ve seen the power that online learning has to meet learners’ needs at every stage of their lives and careers.
…
The world around us is changing, rapidly, and we need to support professionals, alumni and students in refreshing and adapting their knowledge and skills, as and when they need, through evolving lives and careers. This is at the heart of LSE’s mission as a global social science hub of research and education, and plays a key role in achieving our mission to educate for impact by empowering students to develop the skills to solve society’s most pressing issues in an ever-changing world.

A side thought from DSC:
Speaking of Economics, I wonder if and how Artificial Intelligence (AI) will impact the field of Economics?

2022 EDUCAUSE Horizon Action Plan: Hybrid Learning [educause.edu]

On 10/18/2022, in 21st century, 24x7x365 access, accessibility / UDL, adjunct faculty, Bias | Diversity Equity & Inclusion (DE&I), blended learning, business side of he, change, changing business models, collaboration, colleges, community colleges, credentialing, economics, education technology, experimentation, face-to-face, faculty, future of higher education, game-changing environment, generational differences, higher education, hybrid learning, instructional design, leadership, learning, learning ecosystem, Learning Experience Design, Learning from the Living [Class] Room, learning preferences, learning spaces, liberal arts, more voice more choice more control, new business models, online learning, pace of change, political science, professional development, reinvent, society, strategy, student-related, teaching & learning, technology (general), traditional / tradition, United States, universities, user experience (UX), vision/possibilities, by Daniel Christian

2022 EDUCAUSE Horizon Action Plan: Hybrid Learning — from library.educause.edu

Excerpts:

Building on the trends, technologies, and practices described in the 2022 Horizon Report: Teaching and Learning Edition, the panel crafted its vision of the future along with practical action items the teaching and learning community can employ to make this future a reality. Any stakeholder in higher education who teaches in or supports hybrid learning modalities will find this report helpful in preparing for the future of hybrid learning. The future we want is within reach, but only if we work together.

Asked to describe the goals and elements of hybrid learning that they would like to see 10 years from now, panelists collaboratively constructed their preferred future for institutions, students, instructors, and staff.

Institutions

Higher education is available on demand.
Learning is not measured by seat time.
Collaboration across institutions facilitates advancement.
College and university campuses are not the sole locations for learning spaces.

Students, Instructors, and Staff

Everything is hybrid.
Student equity is centered in all modalities.
Professional development is ongoing, integrated, and valued.

Megatrends | September 25, 2022 — by Michael Moe, Tim Juang, Owen Ritz, & Kit Royce

“The trend is your friend.” – Martin Zweig

“Follow the trend lines, not the headlines.” – Bill Clinton

“In order to be irreplaceable, one must always be different.” – Coco Chanel

“I don’t set the trends. I just find out what they are and exploit them.” – Dick Clark

Megatrends are powerful technological, economic, and social forces that develop from a groundswell (early adoption), move into the mainstream (mass market), and disrupt the status quo (mature market), driving change, productivity, and ultimately growth opportunities for companies, industries, and entire economies.

.

The metaverse is not a vertical trend; it’s a horizontal trend that will impact sectors ranging from healthcare, education, socialization, entertainment, commerce, and more.

What 4 Atypical Shocks Are Coming in Education? [Gentz]

On 09/22/2022, in change, economics, education, future, game-changing environment, homeschooling/homeschoolers, K-12 related, learning ecosystem, Michigan, by Daniel Christian

What 4 Atypical Shocks Are Coming in Education? — from techlearning.com by Susan Gentz
Preparing for a potential wild ride in education over the next few years

Excerpt:

What are the 4 Atypical Shocks on the Horizon?
None of these atypical shocks should come to a surprise to anyone who understands how the market works. The team at Edunomics Lab did an excellent job succinctly predicting what these shocks will be (the extent of each shock will be unknown for some time):

* Federal funding will end: Fiscal Cliff (September 2024)
* Enrollment is declining
* Inflation and labor
* Economic slowdown (recession)

Also relevant/see:

Attendance rates drop 4% in Michigan schools compared to pre-pandemic numbers — from mlive.com

Excerpt:

As Michigan schools continue to rectify the effects the COVID-19 pandemic had on students, the Michigan Department of Education (MDE) recently announced that attendance rates have also taken a hit when compared to pre-pandemic levels.

School attendance for Michigan’s approximately 1.4 million K-12 students dropped to under 89% in the 2021-22 school year, down from 93% in the 2019-20 school year when the pandemic began.

‘Wake-up Calls’: New Parent Survey Shows 9% Enrollment Drop in District Schools — from the74million.org by Linda Jacobson
Experts urge treating the results with caution, but several of the nation’s largest districts are already reporting huge losses

Excerpt:

“These are wakeup calls,” said Jenn Bell-Ellwanger, CEO of the Data Quality Campaign. “Is there something bigger happening here that we need to understand?”

The results, she said, should prompt district leaders to “interrogate” their own enrollment data, especially at key transition points like kindergarten and middle school. If families aren’t coming back, she said, officials should ask why.

Blockchain — a useful technology or a major way just to make and/or launder $$?

On 09/06/2022, in 21st century, 24x7x365 access, Blockchain, business, change, cryptocurrencies, economics, future, global / globalization, human-computer interaction (HCI), platforms, by Daniel Christian

From DSC:
I need to learn a lot more about the benefits and the threats/downsides of blockchain-based technologies. Here are two different takes on whether blockchain should be implemented or not — though the second one may be a prime example of the first article (a scam, hyping a tech up for investment purposes, other):

1) ‘Blockchain is bunk’: Crypto critics find their voice — from protocol.com by Benjamin Pimentel
John Stark, founding chief of the SEC’s Office of Internet Enforcement, is joining other experts in a major gathering of crypto skeptics.

Excerpts:

More than 20 years later, Stark is speaking out against what he considers a new wave of fraud. But this time he’s also taking aim at the technology that he says the scammers are using: cryptocurrencies and blockchain.
…
There are so many aspects to it, whether you’re talking about bitcoin and the greater fool theory, or the externalities of ransomware and drug dealing and human sex trafficking, or the financial systemic risk created by cryptocurrency or the real bluster, hype and nonsensical belief in blockchain. There’s so many reasons to be skeptical of cryptocurrency.

Seven or eight years ago, I was willing to entertain the thought that this might be something someday. But I’m just done with that. Because there came a point in my research, my writing and my experience, where I just felt like it’s really shameless.
…
From my perspective, I think the magnificence of this conference is that it’s the first in history to really present these experts who are going to come together for the first time in a way that presents every angle. Because it’s a multifaceted situation. There are hundreds of cryptocurrency conferences, and they are all these lovefests where everyone just sits around and talks about how great it is, because they’re all getting rich from it.

I don’t mean to sound cynical, but that’s the truth. That’s the reality. So it’s a bit of an antidote for that illness, which plagues the space right now.

2) The Biggest Change to our Financial System in 50 Years is Happening in November… — from medium.com by Richard Knight
International Payments are moving to the blockchain (ISO 20022)

Excerpt:

Many cryptocurrency investors are looking to reap massive returns as the 50-year-old international payments system moves onto the blockchain beginning in November 2022.

This is part of what is known as ISO 20022, a single standardization approach to be used by all financial standards initiatives. The new standardization is set to officially begin in November 2022 and be fully implemented by November 2025.

There are many cryptocurrencies that will be integrated into this new financial system, referred to as ISO 20022 compliment cryptocurrencies and there is much speculation these cryptocurrencies will soar in price once the standard is implemented.

Also relevant/see:

MONETARY POLICY > The Verdict Is in for El Salvador’s Bitcoin Experiment: It Failed — from nationalreview.com by Steve H. Hanke & Caleb Hofmann

Reflections on “Hypercompetition Is Harming Higher Ed” [Reuben]

On 07/15/2022, in colleges, community colleges, cost of getting a degree, dangers of the status quo, Daniel S. Christian, economics, higher education, leadership, society, United States, universities, by Daniel Christian

Hypercompetition Is Harming Higher Ed — from chronicle.com by Julie A. Reuben
Colleges should ease off the branding and remember their shared values.

Excerpt:

Competition has long been viewed as a key to the greatness of the American college. But developments over the last half century have knocked the balance between competition and cooperation out of whack. These changes include rising tuition; the use of merit aid and other discounts to drive enrollment; the increased importance of rankings; soaring student debt; a surge in revenue-seeking activities, such as patenting and corporate partnerships; increases in revenue-containment strategies, such as the use of contingent faculty; and uneven or declining support at the state and federal levels. Researchers have used terms such “privatization,” “market-oriented,” or “neoliberal” to characterize this larger transformation. The pursuit of institutional advantage at the expense of the health of the larger sector is both a consequence and a driver of these changes.

The excessive competition may be bringing the whole system down. As that happens, even the institutions with the strongest brands will suffer.

Leaders are more interested in defining the distinctive qualities of their institutions than in debating what higher education writ large should be.

From DSC:
I like what Julie’s saying, and I agree with much of it. That said, I’m very skeptical that we can achieve this. From the earliest ages, we introduce a great deal of competition to our youth. How fast can you run the 50 or 100 yard dash? What violin chair are you in the school orchestra? What’s your GPA? Where are you on the Bell Curve?

Capitalism — our basic economic system here in the U.S. — further compounds these dynamics.

We focus more on ourselves as individuals than we focus on our communities.

So while I hope we can achieve what Julie’s saying, I’m not optimistic here.

Somewhat related items:

People from elite backgrounds increasingly dominate academia, data shows — from washingtonpost.com by Andrew Van Dam
First-generation academics were always rare. Now they’re vanishing.
The College-Affordability Conundrum — from chronicle.com by Audrey Williams June

Along the lines of competition, the following item was added on 7/16/22:

Does Our Academic System Unnecessarily Pit People Against Each Other? — from edsurge.com by Jeffrey R. Young

Teaching Financial Literacy — from techlearning.com by Erik Ofgang
More states are adopting financial literacy requirements for students. Here are tips for teaching the topic.

Excerpt:

Teaching students about this financial misinformation is vital, Pelletier says. As is giving students the tools to understand cryptocurrency, NFTs, intense inflation, and student debt, along with more traditional lessons in financial literacy.

Financial Literacy: Teaching and Engagement Resources
There are free online resources with ready-to-go financial lesson plans, videos, and classroom exercises.

While not much time is spent in K-12 educating students about money, once they graduate, it will be an important topic for them. “Not a day will go by that they’re not thinking about money. How to make it, how to spend it, how to save it,” Pelletier says. “And yet it’s like the least thing you’re taught in school.”

From DSC:
I appreciated Erik’s article/topic here and I would add that I wish that we would teach high schoolers about legal-related items such as wills, trusts, power of attorney for health care and for finances, finding legal assistance, etc.

But even as I write this, I recall that my neighbor is leaving our local school district to move to another school district for her kids’ sake (her and her husband’s words, not mine). I get it. Teachers have sooooo much on their plate already. So I don’t mean to throw another item on their jammed-full job plates.

But I hope that we will look at how to redesign our lifelong learning ecosystems to make them even more relevant, helpful, practical, useful, and up-to-date/responsive. We would probably find that the youth would be more attentive if they sensed that the information they are being taught will definitely come in handy in their futures. Better yet, bring former students in via digital video to relay practical examples of things that they — or their parents, grandparents, friends, etc. — are experiencing to the current students.

Also relevant/see:

High School Students Say They Learn The Most Important Skills Outside of School — from edsurge.com by Jeffrey R. Young

Excerpt (emphasis DSC):

The trend that could have a huge impact on education, at the K-12 and college level, Evans argues. For one thing, it’s a challenge to teachers—that they should do more to tap into the intrinsic motivation of students, that students can learn so much more if they’re excited about what they’re doing.

From DSC:
This item from EdSurge mentioned “free agent learning” — so I put a Google Alert out there for this phrase this morning, as I want to learn more about that topic/item.

The Future of Education | By Futurist Gerd Leonhard | A Video for EduCanada

On 06/23/2022, in 21st century, 24x7x365 access, adult learning, Artificial Intelligence / Machine Learning / Deep Learning / Algorithms, business, Canada, career development, change, corporate / business world, corporate universities / corporate training, creativity, credentialing, dangers of the status quo, Design Thinking, economics, education, education reform, education technology, emerging technologies, ethics, Europe, future, future of higher education, game-changing environment, generational differences, global / globalization, health, higher education, K-12 related, learning ecosystem, Learning Experience Design, legislatures / government / legal, lifelong learning, morals/values, Natural Language Processing (NLP), pace of change, reinvent, skills, society, sociology, staying relevant, surviving, technology (general), training / L&D, trends, universities, vision/possibilities, voice recognition / voice enabled interfaces, workplace, by Daniel Christian

The Future of Education | By Futurist Gerd Leonhard | A Video for EduCanada — from futuristgerd.com

Per Gerd:

Recently, I was invited by the Embassy of Canada in Switzerland to create this special presentation and promotional video discussing the Future of Education and to explore how Canada might be leading the way. Here are some of the key points I spoke about in the video. Watch the whole thing here: the Future of Education.

…because by 2030, I believe, the traditional way of learning — just in case — you know storing, downloading information will be replaced by learning just in time, on-demand, learning to learn, unlearning, relearning, and the importance of being the right person. Character skills, personality skills, traits, they may very well rival the value of having the right degree.

…

If you learn like a robot…you’ll never have a job to begin with.

Gerd Leonhard

Also relevant/see:

The Next 10 Years: Rethinking Work and Revolutionising Education (Gerd Leonhard’s keynote in Riga) — from futuristgerd.com

Gensler warns as crypto crashes: ‘The public is not protected’ [Pimentel]

On 05/20/2022, in business, cryptocurrencies, economics, legislatures / government / legal, United States, by Daniel Christian

Gensler warns as crypto crashes: ‘The public is not protected’ — from protocol.com by Benjamin Pimentel
The SEC chair had sounded alarms about crypto’s risks, and now those risks are in plain sight.

Excerpt:

SEC Chair Gary Gensler warned Congress Wednesday that consumers and investors are vulnerable in an increasingly volatile crypto market now reeling from a sharp downturn.

Citing the recent collapse in the crypto market’s value, Gensler said, “This is a field that is now worth $1.2 trillion. Two weeks ago it was supposedly worth $2 trillion.”

“The public is not protected,” he testified at a House Appropriations Committee hearing on the proposed budget for the SEC and the FTC. “They don’t have the disclosures from these entrepreneurs.”

From DSC:
A topic for personal finance courses? Economics courses?

I sure hope that Economics classes/majors are looking at these types of articles [Christian]

On 04/25/2022, in business, economics, society, United States, workplace, by Daniel Christian

Hot Economy, Rising Inflation: The Fed Has Never Successfully Fixed a Problem Like This — from wsj.com on 4/18/22 by Jon Hilsenrath and Nick Timiraos; behind a paywall
Central bank says it is possible, but many factors are out of its control; ‘they are strikingly behind’

Excerpt:

The Federal Reserve is setting out to do something it has never accomplished before: reduce inflation a lot without significantly raising unemployment.

Nasdaq slides 2%, Dow falls more than 350 points in sharp reversal as rising rates weigh on stocks — from cnbc.com on 4/20/22 by Fred Imbert Tanaya Macheel Hannah Miao

Excerpt:

The 10-year started the year near 1.5% and has shot up as the Federal Reserve tightens monetary policy to get a hold of soaring prices in the U.S.

“Although we expect inflation to peak very soon, if it hasn’t already done so, continued supply chain disruptions and a slow increase in labor force participation due to retirements and continued concerns over Covid, could easily keep the inflation rate more than double the Fed’s 2% target,” wrote Joseph Kalish, chief global macro strategist at Ned Davis Research.

Learning Ecosystems

A.I. Is Coming for Lawyers, Again [Lohr]

Making Change: How America’s Workforce is Responding to Rising Costs [guildeducation.com]

National Apprenticeship Week [November 14-20, 2022]

Are Microcredentials Finally Gaining Traction? [Kim]

Blockchain — a useful technology or a major way just to make and/or launder $$?

Reflections on “Hypercompetition Is Harming Higher Ed” [Reuben]

Gensler warns as crypto crashes: ‘The public is not protected’ [Pimentel]

I sure hope that Economics classes/majors are looking at these types of articles [Christian]

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