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The rise of Asia requires vision and action in Australia, according to a new report from the Australian Council of Learned Academies (ACOLA).
Smart Engagement with Asia provides new insight to the complexities of our relationships in the region, and a blueprint for the bridges Australia can build.
Speaking at the launch of the report, Australia’s Chief Scientist Professor Ian Chubb AC called for a national commitment to our future in the region. More...

By Zhao Xinying and Luo Wangshu. All of the 9.42 million Chinese students who took the gaokao, or national college entrance exam, on June 7, know that the results will decide which domestic university they can attend.
However, in recent years, the test score can also help them gain admission to some universities overseas.
Dozens of countries and regions, including Australia, Italy and the United States, have used gaokao test scores for admission criteria. More...

This paper relaxes the assumption of homogeneous skills among graduate workers and proposes a new approach to differentiate between real and apparent overeducation based on the level of cognitive skills actually achieved by the individuals. This proposal is applied to the study of the wage effects of overeducation in the Spanish labor market using data from PIAAC. The results suggest that between a quarter and a half of the graduate workers who appear to be overeducated in the Spanish labor market could be considered as being only apparently overeducated since they show a lower level of skills than that corresponding to their educational level or, alternatively, a level of cognitive skills which is commensurate with their job. Different returns are found for each group of overeducated individuals both when compared with adequately educated peers within a similar level of education (with greater wage penalties for apparently overeducated workers) and when the comparison is done with well-matched co-workers doing a similar job (with a wage premium for real overeducation but no significant returns for apparently overeducated workers). These results point to the need of taking account of skills heterogeneity within an educational level when returns to overeducation are analyzed. More...

Labor markets around the world haven’t kept pace with rapid shifts in the global economy, and their inefficiencies have taken a heavy toll. Millions of people cannot find work, even as sectors from technology to healthcare struggle to fill open positions. Many who do work feel overqualified or underutilized. These issues translate into costly wasted potential for the global economy. More important, they represent hundreds of millions of people coping with unemployment, underemployment, stagnant wages, and discouragement.
Full Report.

By Alex Usher. Every once in awhile, when politicians of a certain mindset get going on the subject of how much money is being wasted in higher education, they fall back on a line about “why can’t universities be more self-sufficient”, or better yet, “why can’t they just fundraise more, like American universities do”. More...