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University of Peradeniya, Sri Lanka. University of Peradeniya, Sri Lanka. Knowledge Economy: Role of Universities and Higher Education Institution. Research Symposium 2011 Uwa Wellassa University of Sri Lanka Keynote Address Prof. Shantha K. Hennayake Head, Department of Geography

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knowledge economy role of universities and higher education institution

University of Peradeniya, Sri Lanka

Knowledge Economy: Role of Universities and Higher Education Institution

Research Symposium 2011

Uwa Wellassa University of Sri Lanka

Keynote Address

Prof. Shantha K. Hennayake

Head, Department of Geography

University of Peradeniya, Sri Lanka

December 15, 2011

preface

University of Peradeniya, Sri Lanka

Preface

In the modern world, the commodity known as the knowledge has come to dominate the economies and thus the quality of life of people.

As the centers of production of knowledge, the Universities and other higher education institutions have assumed a commanding place.

The responsibility of the University today is to produce high quality knowledge product that can directly and indirectly transform the society into a better place of living.

Where goes the University so goes the nation.

outline

University of Peradeniya, Sri Lanka

Outline

The Evolution of global economy

The emergence of knowledge economy

The emergence of knowledge as a commodity

Uniqueness of the knowledge commodity

Role of the Universities

Salable products

Global market

High quality product

Reliable supply

Active marketing and advertising

Role of the Teacher

Role of the Student

the evolution of global economy

University of Peradeniya, Sri Lanka

The Evolution of global economy

Beginning – 3000 years – Primitive - Hunter-gatherer

3000 y – 1600- Agriculture - farmer

1600- 1850 - Trade and commerce -trader

1850- 1970 – Industry -industrialist

1970 - 2000 - Services - professionals

2000 - Knowledge - Intellectuals, innovators

the emergence of knowledge economy

University of Peradeniya, Sri Lanka

The emergence of knowledge economy

Societal needs become more sophisticated

The market become more competitive

Production systems become more efficient.

Research - fundamental and applied -become increasingly a part of production system.

Thus universities have become an intrinsic part of the economy and thus knowledge economy

Knowledge is becoming the most important factor of production

the emergence of knowledge as a commodity

University of Peradeniya, Sri Lanka

The emergence of knowledge as a commodity

A commodity is

Something that has a value in the market/society.

Production has a cost

Something bought and sold in the market.

Poor quality commodities looses the market

Good quality commodities win

Subject to the market rules – demand and supply.

Knowledge is a factor of production and a product at the same time.

uniqueness of the knowledge commodity

University of Peradeniya, Sri Lanka

Uniqueness of the knowledge commodity

Knowledge is an unusual commodity.

It is not space bound and cannot be contained.

It takes time to produce this commodity

Reproduces itself as a chain

Three pillars in the production of knowledge

The institution- the University

The teacher - Lecturer

The student – Undergraduate and postgraduate student

role of universities

University of Peradeniya, Sri Lanka

Role of Universities

Creating an attractive workplace

Have all inputs in place

Provide a salable product- academic program and curriculum

Produce a high quality product- can compete in national and global market

Global market – extremely competitive

Reliable supply – uninterrupted supply

Active marketing and advertising

role of lecturers

University of Peradeniya, Sri Lanka

Role of Lecturers

Highly qualified staff

“if you recruit second rate lecturers you will produce fourth rate graduates”

Research – relevant

Publications – internationally

Excellent teachers – pedagogy

Role models – Worthy of emulating

role of student

University of Peradeniya, Sri Lanka

Role of Student

Having very high expectations

Raising the bar to very high (international) levels

Develop high level of English competence

Develop managerial skills (optimum use of resources)

Develop national and global literacy

Develop a critical and intellectual mind

Develop competitive spirit

Develop profit motive

Develop civic responsibility

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