The modern knowledge economy in China and Europe : implications for policy-making in higher education

Abstract

Over the last 20 years knowledge has been of growing significance, hence, coining the term "knowledge economy". These past decades will prove to be of groundbreaking value for education and knowledge all around the globe. This thesis is aiming to discuss the challenges that the university systems in China and Europe face in the dawn of the knowledge economy. In order to get a proper understanding of the knowledge economy, the reader will first be introduced to relevant terminology. Next, an insight into the mathematic modelling in regards to the influence of higher education on economic growth is offered. Subsequently, the question of quality in higher education is introduced. The pertinence of rankings for yielding well-founded commensurability of universities is pointed out, before discussing the university systems of China and Europe, respectively. Thereupon, the issues of quality, equity, financing, and internationalization of higher education in China and Europe are raised. Furthermore, the resemblances of higher education in China and Europe are underlined by a number of tangible examples. To round off the results, various policy suggestions are proposed.