The Impact of the Financial Crisis on Tertiary Education Institutions Jamil Salmi OECD Conference 29-30 June 2009.

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The Impact of the Financial Crisis on Tertiary Education Institutions

Presentation transcript:

The Impact of the Financial Crisis on Tertiary Education Institutions Jamil Salmi OECD Conference June 2009

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4 impact of the crisis how resource flows are affected responses of tertiary education institutions scenarios for the tertiary education sector implications for governments opportunities

5 resources flows reduced government funding for teaching, research and student aid reduced resources for institutions as demand falls (new domestic and foreign students, dropouts)

6 resource flows (II) fewer resources from private sector (donations, contracts) fall in stock market values reduces value of endowments and pension funds

7 differential effects scope of crisis business model and financing strategy –how endowment resources are used –balance among various sources of income country and type of institution

8 response of tertiary education institutions budget cutting measures revenue generation

9 budget cutting measures employment-related programs and academic organization students (number, teacher/student ratio) efficiency measures

10 revenue generation strategies demand-linked measures financial measures

11 strengthening financial planning and management information and monitoring fund-raising strategy and team investment strategy contingency planning

12 scenarios for the tertiary education sector graduate unemployment shifting demand (from long to for shorter duration programs, private to public, foreign to domestic) increased inequality deteriorating quality (with fewer resources)

13 implications for governments increase scholarships and establish / strengthen student loan programs include tertiary education in economic stimulus plans –R&D –capacity building –entrepreneurship for innovation

14 opportunities innovations and startups attracting foreign students developing domestic private sector philanthropy

15 opportunities efficiency gains and no-frill options implementing structural reforms –strategic focus –new academic model –new business model

16 conclusion differential effects depending on context and strategic positioning short term reactions vs. long term realignment