ABSTRACT
With the recent growth in market globalization and competition, countries are taking a major interest in developing and maintaining workforces that are highly skilled, educated and healthy. The quality of the workforce of a country in turn affects their labour market outcomes through greater participation in the labour market, increased productivity and higher income. Several countries have recently announced major reforms to their higher education systems including Australia, Finland, Germany, the United Kingdom and the United States. Some of these changes have been in reaction to a perceived need to maintain international competitiveness. Governments are prepared to acknowledge more openly the importance of higher education for the nation’s economic performance, with some seeing higher education as the main engine of economic growth.
