ABSTRACT
Major changes are occurring in society: in the ways that we work, produce wealth, spend our money, interact and amuse ourselves. Collectively, these changes are leading to a new system for human commerce and communication that is being called the new economy. Is there a new economy emerging for education? In this chapter we argue that this is so, and use the lessons to suggest
its characteristics and implications. We begin by taking some major characteristics of the new economy in the business and consumer world and speculate on the forms those might take as a new economy for education also emerges. We also look at several routes towards this new economy for higher education, routes which can differ in a number of ways but which we sketch in terms of four scenarios (Back to Basics, The Global Campus, Stretching the Mould and The New Economy). Key issues associated with the scenarios for different actors related to the institution, implementation management, pedagogy and technology perspectives are predicted, and recommendations linked to the lessons learnt are given. Regardless of the scenario or the manner of reaching the new economy, flexible learning and technology will be its key attributes.
