The Global Economy in Turbulent Times

CHAPTER 99 The Future of University Education: What It Takes to Be Educated¹

The inaugural Conference on Southeast Asia held in conjunction with the official launch of the Jeffrey Cheah Institute on Southeast Asia (JCI) by the Deputy Prime Minister of Malaysia on March 18, 2014, had as its theme: Overcoming the Middle Income Trap and Keeping Balance Amid Global Turbulence. I presented a paper on “Human Capital Needs for the 21st Century: The Role of Higher Education.” The president of Harvard University talks of knowledge being the most important currency of the twenty-first century.² Indeed, I do believe that knowledge, innovation, and creativity, which together reliably drive increases in productivity, holds the key to releasing nations from the middle-income trap.

Higher Education

It is well acknowledged the delivery of quality education is the principal “takeaway” on higher education. As I see it, it is quality education that enables youth to develop (1) the ability to think clearly and critically, (2) the ability to communicate, (3) a strong set of ethical principles, (4) a commitment to fulfill civic responsibilities, (5) the ability to adapt and respond to a globalized society, (6) a breadth of interests to better cope with life, and (7) dependable instincts to prepare for a lifelong career.

Tensions

Along the way, the evolution of education confronts a number of tensions (pulling in different and, often, opposite directions) reflecting:

1. Requirements versus flexibility ...