Question:
Should the average Australian consider pursuing a university degree?
This case study asks whether the average Australian should consider pursuing a university degree,or is tertiary study an unsound investment of a person’s money and time?
Background and outline of case study question: Traditionally, the role of universities was to create and disperse knowledge. Universities prepare
people for professional careers (law, medicine, teaching, etc.) in today’s democratic, pluralistic society while developing their personalities, morals and outlooks. A university degree became seen as a prerequisite to a well-paid job as traditional industries such as manufacturing declined in Australia, and work became increasingly centred around the ‘knowledge economy’, where information was gathered, analysed and applied.
However, for many people, the decision to pursue a university degree is not a straightforward one. There are many costs involved, not just in explicit costs, but also what are known as ‘opportunity costs’ – the money that they could have been making had they not been studying. There are also many risks. A degree does not guarantee a job to the extent it once did, let alone a well-paid one. Additionally, there is now student debt to pay off at a lower threshold than it once was. It is a complex issue.
This case study asks whether the average Australian should consider pursuing a university degree,or is tertiary study an unsound investment of a person’s money and time?
Background and outline of case study question: Traditionally, the role of universities was to create and disperse knowledge. Universities prepare
people for professional careers (law, medicine, teaching, etc.) in today’s democratic, pluralistic society while developing their personalities, morals and outlooks. A university degree became seen as a prerequisite to a well-paid job as traditional industries such as manufacturing declined in Australia, and work became increasingly centred around the ‘knowledge economy’, where information was gathered, analysed and applied.
However, for many people, the decision to pursue a university degree is not a straightforward one. There are many costs involved, not just in explicit costs, but also what are known as ‘opportunity costs’ – the money that they could have been making had they not been studying. There are also many risks. A degree does not guarantee a job to the extent it once did, let alone a well-paid one. Additionally, there is now student debt to pay off at a lower threshold than it once was. It is a complex issue.
Read less