Education Portal for Students in India

Industrial development and education have a positive relationship. A country’s industries will improve in terms of efficiency and production if the workers are educated and skilled. At the same time, the skilled population can establish profitable industries.
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How did education help the Industrial Revolution?

1. Establishment of training schools – The mass growth of industries from textile to energy-based saw the need for more competent workers to work in the factories and manufacturing plants. It brought about the need to have schools to train people on how to work with the newly invented machinery. Many training schools were established all around Europe and America.
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How does education affect the development and progress of our country?

Education contributes to greater productivity and economic growth. Moreover, education has spillover effects: human capital is at the heart of innovation, and a more educated workforce fosters innovative ideas leading to more and better jobs.
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What was one effect on the Industrial Revolution on education?

What was one effect of the Industrial Revolution on education? Universities began stressing science and engineering.
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How does education impact the economy?

The Relationship Between Education and Economic Growth – Decades of research confirm that increased investment in education leads to increased economic growth. This includes higher salaries for individuals, greater workforce effectiveness, and higher gross domestic product.

New jobsGross domestic productAnnual earningsAnnual spendingFederal tax revenue

A study from The Learning Agency teases out the relationship between education and economic growth one step further, examining the economic impact not just on high school graduation rates, but on the skill level of graduates. Their findings show that increases in math, reading, and writing skills correlate to significant increases in salaries.

• What’s more, these higher-skilled workers are more effective in their jobs—leading to increased innovation and productivity, which benefits the economy as a whole.
• The positive correlation between education and economic growth continues to track beyond high school and into postsecondary outcomes.
• Two studies from the Brookings Institute illustrate this relationship.

First, a college degree in any major is crucial to increasing a person’s earning potential, Second, the economic gains of postsecondary education aren’t limited to individuals, The Brookings Institute found that the average bachelor’s degree holder contributes $278,000 more to local economies than the average high school graduate through direct spending over the course of their lifetime, and an associate degree holder contributes $81,000 more than a high school graduate.

High school graduation rates are highHigh school graduates possess career-ready skillsHigh school graduates go on to complete postsecondary education

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What is the role of education in industrial society?

Abstract – Education proves to be one of the deciding factors in the development of an individual and society. In modern industrial societies the state provides every citizen with the right to education. For that aim formal institutions are organized where education is carried out systematically and on a professional level.
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What is the relationship between education and industry?

THE IMPORTANCE OF EDUCATION- INDUSTRY PARTNERSHIPS Industry-education partnerships are collaborative efforts that bring higher education institutions, businesses and community together to address their mutual interest in higher education. While helping to advance the educational development in higher education institutions, the partnerships also address skills scarcity needs.

1. They provide business people with an opportunity to contribute in educational programs and decision making.
2. The industry and education partnership initiative of the Human Resource Development Council (HRDC) encourages partnerships between industry- education and other stakeholders, primarily, the private sector to enhance the performance of the education sector.

The point of departure for the initiative is an acknowledgement that there are generally low levels of human resource development among the majority of the formerly disadvantaged population and high unemployment rates, especially among the youth. The Post School Education and Training (PSET) system holds a key to unlocking the human resource development challenges.

• This includes unemployment, and ultimately contributes to the broader objective of socio-economic transformation and a more equal society.
• There is a good reason to believe that education institutions must work proactively with industry, to deliver appropriately skilled and capacitated graduates to meet the societal and economic needs.

The industry and education partnership initiative of the HRDC seeks to support the White Paper recognition of the importance of partnerships between educational institutions and industry. One of the main objectives of the White Paper is a stronger and more cooperative relationship between education and training institutions and workplace.

Standard Bank South Africa has developed a partnership initiative called SBSA Value Add Offering. This initiative was endorsed by the HRDC on 13 September 2016. SBSA Value Add Offering provides TVET College with programmes aimed at management, lecturers, students and the entire institution. Standard Bank will contribute to the socioeconomic development of the country in a way that is consistent with the nature and size of their operations.

The HRDC also has a programme called adopt a TVET college where industry is encouraged to adopt a TVET college so that the industry is able to make contributions towards what learners are taught practically in order to make the transition from college to the work place a smooth one.

• It is essential therefore that we work together- government, business and other stakeholders- to improve the scale, quality and relevance of our TVET college system” Said the Deputy President of South Africa during the launch of Adopt-A-TVET College.
• The complex challenges of poverty, inequality, high levels of unemployment, illiteracy, crime and diseases requires collective efforts to respond appropriately and effectively.

Neither government nor the market can develop the necessary capabilities required to address these challenges on their own. The collaboration between education institutions and industry will enhance capabilities to address South Africa’s complex challenges.

The education and training system requires a close cooperation with industry, especially in the programmes providing vocational training. This will reduce mismatch of educational outcomes and workplace requirements. There is an increasing need for universities to contribute towards the economic development of the country through the development of a knowledge economy that is competitive and open to innovation, adding value to the technological capabilities in industry.

At the same time, higher education institutions can also benefit from collaboration and partnership agreements with industry. When industry and higher education institutions work hand in hand to reach new heights of knowledge, they become a powerful engine for innovation and economic growth.

1. The perceived disconnect between Higher Education and Industry is partly due to the lack of adequately trained graduates for industry, mainly those with measurable skills in Science, Technology, Engineering and Mathematics (STEM) subjects.
2. This remains a key concern for business.
3. Business and post school education have found common cause in recent decades in preparation of an extremely skilled workforce to reserve the nation’s competitiveness and economic opportunity in response to rapid technological change and increasing global competition.

Business and Industry are experiencing rapid transformation in many forms, driven by increasing doubt in new global markets; more difficulty in business processes; and the need for rapid change and the mobilisation of people to attain key objectives in a globally competitive marketplace.
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What is the relationship between education and industrialization?

Industrialization may increase education by increasing parents’ incomes, public sector revenues, returns to skill, and (by promoting urbanization) children’s access to schools.
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How important is education for economic development of a country?

Why education matters for economic development Young girl stands to read. Photo: © Steve Harris / World Bank At the, in Shanghai, China, May 17-19, 2016, the World Bank will be discussing Shanghai’s eminence in ranking highly in international achievement tests. The conference will also cover how good policy can help improve education quality in other countries.

• See,,, “Give a man a fish and he will eat for a day.
• Teach a man to fish and he will eat for a lifetime.”- Laozi (老子), ancient Chinese philosopher and writer, known as the reputed author of the Tao Te Ching.
• He is the founder of philosophical Taoism and is worshipped as a deity in Taoism and traditional Chinese religions.

There are more children in school today than ever before. For example, in 1950 the average level of schooling in Africa was less than two years. It is more than five years today. In East Asia and the Pacific, the schooling of the population went from two to seven years between 1950 and 2010.

This is a more than a 200 percent increase!, average years of schooling are now projected to rise to 10 years by 2050. This is larger than a five-fold increase within a century and a half. Yet, there are still 124 million children and adolescents not in school. Also, more than 250 million school children cannot read, even after several years of schooling.

Here are five things you should know about the pivotal role of education in economic development: Education is an investment The importance of knowledge and learning has been recognized since the beginning of time. Plato wrote: “If a man neglects education, he walks lame to the end of his life.” But it was really the Nobel winning economists that put the argument of education as investment.T.W.

Argued that investment in education explains growth and Gary Becker gave us the, In a nutshell, the Human Capital Theory posits that investing in education has a payoff in terms of higher wages. Moreover, the theory and empirical estimates are backed up by current science, as explained by James, Neurogenesis tells us that learning can continue into advanced ages.

The relative costs and benefits to investments in older persons compared to younger persons differs. Investments in more able workers at any age generate higher returns than investments in less able workers, and ability is formed at, Education pays Overall, another year of schooling raises earnings by 10 percent a, The value of human capital – the share of human capital in total wealth – is percent. That’s four times the value of produced capital and 15 times the value of natural capital. Globally, we – governments, private sector, families, individuals – spend more than $5.6 trillion a year on education and training.

Countries spend 5 percent of GDP on education or 20 percent of their national budget. Education employs about five percent of the labor force. Moreover, private returns to schooling – what individuals receive in the labor market – have been increasing. Returns are increasing by more than 20 percent in Africa and more than 14 percent in East Asia and the Pacific.

The big change recently has been that the returns to tertiary education are now highest. Skills demanded by the labor market are changing One of the reasons for the change in the returns pattern is the race between technology and education, as labor markets adjust to automation.

• In this new world, the ability of workers to compete is handicapped by the poor performance of education systems in most developing countries.
• Technological change and global competition demand the mastery of competencies and the acquisition of new skills for many.
• Countries can compete- and succeed To promote success in today’s labor market, one needs to invest early, and then invest in the relevant skills (see below).

Above all, countries need to invest smartly, by promoting attention to the : Autonomy, Accountability, Assessment. They need to pay attention to teachers, early childhood development and culture. It’s important to focus on results Education systems that do well prepare children early on, reform continuously, and use information for improvement and accountability. Information for accountability works, as do high stakes assessment; but so do low stakes assessments.

• Either way, test-based accountability is cost-effective.
• Even if accountability costs were 10 times as large as they are, they would still not amount to 1 percent of the cost of public education” ().
• Expand opportunities but pay attention to equity Countries need to improve quality, strive for excellence, and expand opportunities, based on efficiency and equity.

This means ensuring that disadvantaged youth enroll and succeed. While the returns to schooling are high on average ( ), results vary (), There must be better information for such student who don’t perform well and greater support networks to help them take on the challenges of completing their tertiary level education.

More information will also benefit students and families from disadvantaged backgrounds, who tend to overestimate benefits and underestimate costs. Education is truly one of the most powerful instruments for reducing poverty and inequality and it sets the foundation for sustained economic growth. Let’s start investing in it more.

Follow on Twitter at, Find out more about the World Bank Group’s work on education on and This site uses cookies to optimize functionality and give you the best possible experience. If you continue to navigate this website beyond this page, cookies will be placed on your browser.
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How does the education add to the growth of a country’s economy?

Is education the most important step in the development of the country? It is proved that a country’s development is primarily based on its people and its resources. However, it ultimately depends on the people only, as to what extent they can use the scarce resources efficiently in order to achieve a rapid rate of development and breakthroughs in innovation.

As people play the most important role in shaping the status of the country; education is responsible for shaping a person. Therefore, education is the backbone of any country, it plays a crucial role in technological developments and imparts various skills, values, and awareness. If a country has a higher literacy rate, it will lead to a lower unemployment rate and greater GDP growth.

Today, countries face various issues including terrorism, discrimination, global warming, poverty, and gender inequality. Proper education for everyone can eradicate these problems from its roots and would lead to a better country with higher standards of living.

In the long term, education reaps greater benefits, educated kids today will develop a very civilized and moral society tomorrow. The human mind has a great potential to achieve radical developments in society. To reap the benefits of the human mind, education is the most important step to work on. It is an investment which is crucial for development of every being.

Education has the ability to transform a person and provide a perspective to see their lives from a different view. Some might argue that health is a more important step for the development of a country as only a healthy population could be efficient and productive.

• However, education is required to be healthy and disease-free.
• Education imparts awareness which is essential for being healthy and productive.
• Education provides solutions to major problems and gradually has the potential to eliminate all the concerns which every person face today.
• Education gives the ability to turn information into knowledge which is essential for solving problems and developing analytical skills.

An educated person possesses various diverse skills, is healthy, and knows what’s best for him/her and the society. Proper education eradicates crime rates, poverty, unemployment, diseases, etc. from the country. Moreover, education is fundamental for peace and prosperity.

Government of each country should emphasise on education. There must be laws for mandatory education till certain age which could make every individual aware of the basic living in society. Government could also either subsidize or provide free education to the parents who cannot afford to send their children to school.

Many countries do not promote education for women despite the fact that they can be 50% of the total workforce. United Nations have emphasised on the importance of education and one of the Millennium Development Goal (MDG) is to provide universal primary quality education to all.

1. It is estimated that today, 250 million children do not have access to primary education.
2. These children are the future and will be responsible for the development of the nation.
3. Nelson Mandela said, “Education is the most powerful weapon which you can use to change the world”.
4. Countries today compete on literacy rates which ultimately leads to higher economic growth and economic development.

Education has great potential to change the world when a society is educated, there is a great allocative and productive efficiency with rapid rates of development. No one can take education away from a person, it will always help and reap benefits. Parents should provide their children with best possible education as an investment which will only benefit the whole society in the future.
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How does education helps in development of society?

Reducing poverty – Lack of education is the main reason why many families, and even entire communities live in poverty for generations. Without knowledge, they lack the basic tools needed to change their life for the better. Education helps young people to understand their position and recognize the opportunities available to them.

Acquiring new knowledge and skills opens the door to better-paid jobs, which in turn directly impacts the progress of the entire community. As the education of young people from poor backgrounds is crucial for their advancement and success, more funds are being invested in schooling and guidance so that everyone has an equal chance to become influential members of society.

This improves the social status of a large number of people who then have the opportunity to find more creative and better-paid jobs, which directly reflects on the success of the whole society, country, and even the whole world, which is faced with similar challenges.
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What is Industrial Revolution in education?

Teaching Strategy Takeaways –

The 4th Industrial Revolution is pushing teachers to evolve teaching strategies, so they support personalized learning for creativity, innovation, and problem solving and have more time for individual instruction. As a result of the 4th Industrial Revolution, workplace requirements and technology are changing so rapidly that students must become self-learners. Teachers must transition into being facilitators of learning beyond personal expertise, supported by technology, to allow students flexibility in gaining skills and pursuing passions.

Education, in response to the 4th Industrial Revolution, must evolve to support teachers in developing individual student potential and preparing students to become self-learners so they can innovate the world tomorrow. Intel® technologies are shaping the world and modern classrooms.
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What role will education play in the fourth Industrial Revolution?

By CTU Training Solutions · November 2, 2020 8:50 am Authored by: Isaac Lupanda The Fourth Industrial Revolution (4IR) will transform industries so considerably that much of the work that exists today will not exist in 50 years. It is imperative for people to understand the impact of these changes on all areas of our lives, including the higher learning institutions.

Currently, all graduates face a world transformed by technology, in which the Internet of Things (IoT), Artificial Intelligence (AI) and Machine Learning, Big Data, Cloud and Edge Computing, and social media create different opportunities and challenges for formal education systems. As students consider life after graduation, learning institutions are facing questions about their own destiny, especially employment.

These technologies powered by artificial intelligence are so much transforming the world that social concepts such as “post-work” are more and more defining the present period. This period requires certain skills that are not exactly the same as the skills that were required in the Third Industrial Revolution where information technology was the key driver.

• The connection between education and society is often implied to be one-way where education is expected to fit in with economic and political trends, rather than opposing them and representing something different.
• Such a general understanding of the relationship between education and the socioeconomic structures and what the education position involves help us to form a projection of future higher education associated with the Fourth Industrial Revolution.

The goal of higher education in the 4IR era is to ensure the quality of learning via teaching, to enable learners to get the latest knowledge through exploratory research and to sustain the development of societies by means of service. Higher learning institutions in the Fourth Industrial age should put innovation, both evolutionary and revolutionary, high on its agenda and deepen its technology system reforms by breaking down all barriers to innovation.

Though the business of higher learning remains unchanged since the times of Aristotle; today students still assemble at a scheduled time and venue to listen to the wisdom of scholars. Given the Fourth Industrial Revolution, a new form of a higher learning institution is emerging that does teaching, research and service in a different manner, such as massive open online courses (MOOCs), virtual classrooms and laboratories, virtual libraries and virtual teachers.

It does, however, not degrade the educational experience but augment it. In conclusion, higher education in the Fourth Industrial Revolution is complex and bring exciting opportunities which can potentially transform society for the better. The Fourth Industrial Revolution is powered by artificial intelligence and it will transform the workplace from tasks-based characteristics to human-centered characteristics.

1. Because of the convergence of man and machine, it will reduce the subject distance between humanities and social science as well as science and technology.
2. The need for a higher learning institution to respond is urgent as the power of 4IR technologies for either positive social impacts or devastating environmental damage is upon us.

This will necessarily require much more interdisciplinary teaching, research and innovation. References Marwala, T. (2010). Finite element model updating using computational intelligence techniques: applications to structural dynamics : Springer Science & Business Media.
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What is the effect of education in business?

Education provides entrepreneurs with cognitive skills to better evaluate and exploit entrepreneurial opportunities, increases the level of self-confidence and reduces perceived risk.
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What is the impact of development?

Good jobs in rural areas, more clean energy, fighting deforestation and climate change, tax revenue and payments to developing countries. These are some examples of the various development impacts that are generated by the companies Finnfund finances. Development impacts are also examined from different levels:

the direct effects of the company’s operations (e.g. good jobs, increased electricity generation, improved infrastructure) indirect effects of the operations (e.g. the benefits of contract farmers, fight against deforestation and biodiversity loss, lower electricity prices and increased reliability of energy production) impacts in wider society (e.g. tax revenues and payments to the government, economic growth, climate change mitigation)

Companies often carry out various community projects with their local communities alongside their core business. Typically, these projects are related to education, health, and water supply or sanitation. This is particularly typical for companies operating in remote rural areas or areas otherwise left behind.
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How education play an important role in development?

In Conclusion – There’re no shortage of reasons why education plays such an important role in the society. Education allows people to provide better lifestyle for their families. Enables them to take appropriate political decisions, promote democracy and oppose dictatorial moves.

• Education also helps directly and indirectly in prevention of disease and epidemics.
• It creates better communications and promotes dialogues between various peoples of the world.
• Education helps find ways and means to create newer things that help improve quality of our lives.
• These are some of the reasons why education plays such an important role in the society.

Mitali Roy Also read: The Importance of Art Appreciation
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