University of Peradeniya, Sri Lanka

Knowledge Economy: Role of Universities and Higher Education Institution Research Symposium 2011 Uwa Wellassa University of Sri Lanka Keynote Address Prof. Shantha K. Hennayake Head, Department of Geography University of Peradeniya, Sri Lanka December 15, 2011 University of Peradeniya, Sri Lanka

Preface In the modern world, the commodity known as the knowledge has come to dominate the economies and thus the quality of life of people. As the centers of production of knowledge, the Universities and other higher education institutions have assumed a commanding place. The responsibility of the University today is to produce high quality knowledge product that can directly and indirectly transform the society into a better place of living. Where goes the University so goes the nation. University of Peradeniya, Sri Lanka

Outline 1.The Evolution of global economy 2.The emergence of knowledge economy 3.The emergence of knowledge as a commodity 4.Uniqueness of the knowledge commodity 5.Role of the Universities 1.Salable products 2.Global market 3.High quality product 4.Reliable supply 5.Active marketing and advertising 6.Role of the Teacher 7.Role of the Student University of Peradeniya, Sri Lanka

The Evolution of global economy 1.Beginning – 3000 years – Primitive - Hunter- gatherer y – Agriculture - farmer Trade and commerce -trader – Industry -industrialist Services - professionals Knowledge- Intellectuals, innovators University of Peradeniya, Sri Lanka

The emergence of knowledge economy 1.Societal needs become more sophisticated 2.The market become more competitive 3.Production systems become more efficient. 4.Research - fundamental and applied -become increasingly a part of production system. 5.Thus universities have become an intrinsic part of the economy and thus knowledge economy 6.Knowledge is becoming the most important factor of production University of Peradeniya, Sri Lanka

The emergence of knowledge as a commodity A commodity is 1.Something that has a value in the market/society. 2.Production has a cost 3.Something bought and sold in the market. 4.Poor quality commodities looses the market 5.Good quality commodities win 6.Subject to the market rules – demand and supply. 7.Knowledge is a factor of production and a product at the same time. University of Peradeniya, Sri Lanka

Uniqueness of the knowledge commodity Knowledge is an unusual commodity. 1.It is not space bound and cannot be contained. 2.It takes time to produce this commodity 3.Reproduces itself as a chain 4.Three pillars in the production of knowledge 1.The institution- the University 2.The teacher - Lecturer 3.The student – Undergraduate and postgraduate student University of Peradeniya, Sri Lanka

Role of Universities 1.Creating an attractive workplace 2.Have all inputs in place 3.Provide a salable product- academic program and curriculum 4.Produce a high quality product- can compete in national and global market 5.Global market – extremely competitive 6.Reliable supply – uninterrupted supply 7.Active marketing and advertising University of Peradeniya, Sri Lanka

Role of Lecturers 1.Highly qualified staff “if you recruit second rate lecturers you will produce fourth rate graduates” 1.Research – relevant 2.Publications – internationally 3.Excellent teachers – pedagogy 4.Role models – Worthy of emulating University of Peradeniya, Sri Lanka

Role of Student 1.Having very high expectations 2.Raising the bar to very high (international) levels 3.Develop high level of English competence 4.Develop managerial skills (optimum use of resources) 5.Develop national and global literacy 6.Develop a critical and intellectual mind 7.Develop competitive spirit 8.Develop profit motive 9.Develop civic responsibility University of Peradeniya, Sri Lanka

Thank you Center for Environmental Studies, University of Peradeniya, Sri Lanka