1. Business Education: Past, Present, and Future
The 19th PBFEAM Conference
Business Education: Past, Present, and Future
William T. Lin
Professor of Finance, Tamkang University
Director, Center for Greater China’s Financial Markets

2. Business Education in Taiwan Before
Students – small in number and preparation, but high in morale. Students’ education can catch economic development.
Faculty – less qualified, but more in demand. Not many professors have extended business exposure. But they are needed much by students and industries.
Job Market – demanding more than supplied. The economy’s momentum is built on the talent of business school graduates.
Contributions – higher than expectation. So business education pays!

3. Business Education in Taiwan Now
Students – more in number than industries need, as many colleges emerge and business schools increase number of departments and student enrollments.
And
Faculty – more qualified than students need. Many more PhD graduates from domestic and foreign universities are recruited to business schools.
Plus
Job Market – less developed than needed. The economy does not offer strong potentials to business graduates! So
Contributions – falling short of expectations. So pay is low!

4. What Should We Expect
Uneven student qualities – due to diminishing numbers. There will be a big drop in 2015.
Dissatisfied graduates – due to stagnant pay. Students will be less motivated!
Unmotivated faculty – due to lower expectation from students. Teaching has to be reengineered.
Impractical education – due to unmatched demand (job market) and supply (graduates). Business schools need to collaborated with industries to reshape the profile of business education.

5. What Can Be Done
More Diverse Courses – to compensate for student quality. Business school curriculum has to be modified to adapt to Taiwan’s service-oriented economic model.
More Practical Courses – to raise productivity and pay. Students need to be trained for practical skills before graduation.
Fewer programs – to concentrate learning. Number of academic programs should go down for business schools to be more focused!
Better Textbooks – to fit the education. Content should be more relevant to Taiwan’s business environment.