Dartmouth College

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Universities are uniquely vulnerable to the pandemic -

Which sector of the economy do you think is the strongest of the coronavirus - Construction , trade, transport or catering?

Now, all of you are wrong and need to do some homework. The Answer is Education .

Many people probably don't think of Education as a part of the economy. The groves of academe are certainly above such sordid considerations, such as money and Finance?

Not just a little bit. Money is the lifeblood of the Education foundations from wealthy alumni, Board and lodging fees, conference facilities, and the largest of The Lot - draws a lot of paid and students each year.

The trouble for the Education sector is that it is clearly susceptible to the Corona Virus pandemic.

for hundreds of years, your business model will bring thousands of people from all over the country and all over The World sit together in a room for three years and talk to each other.

The Rise of the global Middle Class was a stroke of luck for Western Higher Education , professor Simon Marginson

As a result, almost all of his sources of income are Under Attack at the same time.

Current students were sent home, and many courses have moved online. If lock have round-the-world, new students are hard to find, in the Autumn , and to get even more difficult on the campus.

Plus, conferences are not held, and those wealthy alumni are nowhere to be thought close to as wealthy as you, they were.

This hits Western English-speaking universities particularly hard. They tend to calculate, also local students, large tuition and fees, and the money from the on-site catering and accommodation.

they also tend to charge foreign students much more, so that you can be a great source of income for many universities. In the UK, for example, students from outside the United Kingdom and the EU.

So, while globalization means for many the import of cheaper manufactured goods from all over The World and for the developed economies, one of the greatest recent economic success has attracted students from Overseas .

Australian universities, including the University of Sydney, pictured, have long tried to attract students from Asia

The Rise of the Middle Class around The World , was a stroke of luck for Western universities, says Simon Marginson , professor of Higher Education at the University of Oxford.

"The global Middle Class has grown by leaps and bounds in The Last few decades, and everyone in this group your children abroad For Education ," he says.

you don't have to do that, not least because many of the developing countries love the same quality of tertiary Education , as it develops. This means that students who study abroad will emerge with a prestigious degree, a second language, and a lot of contacts and friends. It is a price worth paying for million.

were The big winners in this context, the United States, the United Kingdom and Australia. All with excellent Education systems, to teach in the English language that can attract you to pay fee for students from all over The World .

In the United States, 360.000 positions, the movements of the Chinese students began The Last academic year. The influx of foreign students is, according to estimates, worth as much as $45bn (£37bn) a year to The American economy.

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In Australia, foreign students said, bring More Than 30 billion Australian dollars a year ($20bn; £about 16 billion euros), and it is a market that Australian universities have for years.

Andrew Norton , professor of The Practice of Higher Education policy at the Australian National University in Canberra, says the country has tried to get foreign students from Asia, since the 1980s.

Australia has some distinct advantages for these students, he says. "We Are in the same Time Zone , the climate is attractive, and there is the possibility of Migration here. "

But the government in Canberra is not in the industry, has helped very much, if at all, during this crisis. The Prime Minister , Scott Morrison even went so far as to say that.

the news is hardly encouraging, probably, to the new students feel welcome in the future, and that matters, says Prof Norton, because "it is a pipeline effect".

"If students do not start studying this year, then you are here for three years," he says, and what the universities means to go, to come to feel the pressure of lost revenue for the year, and not just in Australia.

In the United States in the University area is a massive company. Some of the oldest and most famous universities, have billions in reserve, massive donations, and a reputation, which means that you can free of charge dollars students top. But also they are suffering, is now closed.

Many of the foreign students in the United States are calling for lost discounts for lessons, and American universities make a Small Fortune with students on-site. Meals and accommodation are huge earners. Students in the UK.

Vijay Govindarajan , Coxe distinguished professor at the Tuck School of Business at Dartmouth College , says: "I see that We Are again able to open and have campus classes This Fall [Autumn ]".

Vijay Govindarajan , of Dartmouth College , says that US universities take some time to get back to normal

Professor Marginson says that, while universities rushed to move, courses, online, at least temporarily, it is clear that they are not as attractive.

"students, if you have The Choice , pick face-to-face teaching," he says. "Online is not the same prestige, and not only the employer, but with the society. "

In the UK's Cambridge University, has announced that, However, he said that it would review The Situation when the state requirements changed.

colleges and universities around The World is moving rapidly in the direction of the online and remote teaching today, because they have to. If a majority of The World is in lockdown, and social distance is The Norm , you have no other choice, and it is the only way to get at least some money comes in.

But it is not clear how many universities will survive the collapse of their income, and whether The Move will be online permanently. Teaching people was together on one site as a very long-term and successful business model, and it still bears the big prestige and rewards for those who participate.

international students, students, coronavirus pandemic, universities, australia, global trade

Source of news: bbc.com