Home > Economics, Education > Open Ed: The Answer to the Supposed Education Bubble

Open Ed: The Answer to the Supposed Education Bubble

From The Chronicle of Higher Education:

“The concept is simple: Community colleges that compete for federal money to serve students online will be obliged to make those materials—videos, text, assessments, curricula, diagnostic tools, and more—available to everyone in the world, free, under a Creative Commons license. The materials will become, to use the common term, open educational resources, or OER’s.”

Brilliant idea.

As the current system is designed, Higher Ed has two components: the knowledge and learning component, and a signalling component. Having more OER’s will increase the dissemination of knowledge and learning. People without the financial means to attend college will be able to get essentially free access (from the internet) to course materials that usually cost hundreds or even thousands of dollars. As for signalling, if their is a large enough demand for some type of alternative certification, and the government doesn’t interfere, markets will provide testing and certification companies that essentially act as test proctors for comprehensive final examinations. This should provide a much cheaper alternative to getting a traditional college degree at a brick and mortar institution, and the certification would still provide a signal to employers and institutions that the student has achieved a certain level of proficiency within a given subject.

Categories: Economics, Education
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