New University Ranking System Tied to Production of Educated Workforce

The Universitas 21 Ranking http://www.marketwatch.com/story/ranking-reveals-worlds-top-countries-for-higher-education-2012-05-10 was announced today (11 May 2012) at an event at Lund University in Sweden. Universitas 21, a leading global network of research universities, has developed the ranking as a benchmark for governments, education institutions and individuals. It aims to highlight the importance of creating a strong environment for higher education institutions to contribute to economic and cultural development, provide a high-quality experience for students and help institutions compete for overseas applicants.

Research authors at the Melbourne Institute of Applied Economic and Social Research, University of Melbourne, looked at the most recent data from 48 countries across 20 different measures. The range of measures is grouped under four headings: resources (investment by government and private sector), output (research and its impact, as well as the production of an educated workforce which meets labour market needs), connectivity (international networks and collaboration which protects a system against insularity) and environment (government policy and regulation, diversity and participation opportunities). Population size is accounted for in the calculations.

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