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Economy mega shifts are here to stay – Tap your talents to thrive

Salah-Eddine Kandri's picture
Editor’s Note: This guest blog is by Salah-Eddine Kandri, the Global Sector Lead for education at the International Finance Corporation (IFC).
 
 Li Wenyong / World Bank
According to a report from McKinsey, about 60 percent of occupations have at least 30 percent of their activities automatable. This means new sets of skills need to be acquired. (Photo: Li Wenyong / World Bank)


When I visited Peru for the first time last month for a business development trip, I met with the heads of some leading private education institutions. At the end of my visit, I decided to book a cultural tour of Lima. During the tour, I asked our guide Marcos where he learned English as I found him very articulate, knowledgeable and with a good sense of humor. To my pleasant surprise and astonishment, he told me that he learned it by himself, mainly online. He then started practicing with visiting tourists until he became more comfortable leading tours himself.      

Bootcamps: Raising expectations for girls in math, science and technology

Juliana Guaqueta Ospina's picture
Also available in: Español
A Laboratoria classroom in Peru
Laboratoria, a nonprofit organization that runs six-month courses, targets girls from low-income families who face major barriers to accessing higher education. (Photo: Laboratoria)


Intensive “bootcamp” training programs that develop coding and other computer science skills and directly connect students with jobs are becoming increasingly popular. In the U.S, there are already over 90 bootcamps—and they are taking root in Latin America too, helping to close the region’s skills and gender gaps.

“Bootcamps”: aumentan las expectativas de las niñas en los campos de matemáticas, ciencia y tecnología

Juliana Guaqueta Ospina's picture
Also available in: English
A Laboratoria classroom in Peru
Laboratoria, organización sin fines de lucro que dirige cursos de seis meses para niñas de familias de bajos ingresos que enfrentan barreras para acceder a la educación superior. Foto: Laboratoria

Six ways to turn education spending into investments with high returns

Harry A. Patrinos's picture
Education is an investment: every year of schooling raises earnings by ten percent. Photo: Maxim Zolotukhin / World Bank

Last month, I joined a group of former education ministers and experts for a consultation on the key challenges facing ministries of education and how to formulate an appropriate curriculum.

Higher education: returns are high but we need to fund it better

Harry A. Patrinos's picture
University students at a laboratory.

Photo: Nafise Motlaq / World Bank


This week I was invited to speak at The Economist’s Higher Education Forum in New York to share my thoughts on how higher education can be expanded. I believe that we need a fair and sustainable cost-recovery model at the university level using future earnings to finance current education.

Over the past two decades, there has been a tremendous increase in the number of university students and graduates worldwide, which should have led to decrease in the rate of return to investment to higher education – if supply outpaced demand, of course.  While there has been some decrease in overall rates of return, investment in education is still a highly profitable investment.  Global demand for high levels skills such as working with new information and problem-solving has kept the returns to schooling high in even the poorest countries of the world. In fact, the returns to higher education are higher in lower-income countries – except in the Middle East and North Africa due to rigid labor market regulations.

Can providing information on school performance lead to improvement?

Harry A. Patrinos's picture

Also available in: Español | العربية

In high-income countries, learning outcomes have improved as a result of an intervention that increases transparency and accountability through the use of test scores.  In a previous blog, I mentioned examples of ‘high-stakes testing’ accountability systems, such as No Child Left Behind.  A high-stakes test has important consequences for the test taker, school, or school authorities. It carried important benefits if the test is passed, such as a diploma, extra resources to the school, or a positive citation. Some of these interventions also follow the “naming and shaming” of school leaders, which is done in England.

There is also evidence that suggests that even just providing information on test scores will lead to improvement.  This is the case in school choice systems such as in the Netherlands.

Can Disseminating Information Lead to Better Learning Outcomes?

Deon Filmer's picture

When my wife and I were looking for where to live in Washington DC, an important part of the decision was the quality of the local public school that our children would (eventually) attend.  But how to judge quality?  Talking to lots of people was the first step.  Taking schools tours was another.  But researching test scores was a key factor.  We wanted a school with a good learning environment, a sense that parents had a positive feeling about the place—but also wanted to know that the school had a track record of good learning outcomes.  Thankfully, the performance of public schools in Washington DC is accessible online and can be compared across schools.  This information was an important input into our decision.  And it remains an important way in which we monitor school performance.  We pay close attention to our own children’s academic development, talk to their teachers regularly, and try to be attentive to the many subtle indicators of the quality of education that they are receiving.  But the annually released test scores provide an externally validated stock-taking of one aspect of that quality.

Can Teachers Unions Change? Can The World Bank Change?

Emiliana Vegas's picture

In December 2006, I travelled to Santiago, Chile, with a small team to conduct consultations with education stakeholders on a study we were carrying out at the request of the Chilean Government to help them identify lessons from high-performing countries on how to strengthen the institutional arrangements for education quality assurance. I was the Task Team Leader (at the Bank this is the title of the Project Manager) and also heading the trip. I was joined by an external expert consultant, Joseph Olchefske who is a former Superintendent of Seattle Public Schools and was during this period at the American Institutes for Research, and a Junior Professional Associate, Erika Molina. Among the round of meetings we held with all stakeholders ranging from government officials (legislative and executive), business sector leaders, think- tanks (both from the right and left of the political and economic spectrum), student organizations, academic leaders, and opinion leaders, we met with the leaders of the national Teachers Union, the Colegio de Profesores.

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