Answer to Question #239358 in Microeconomics for ndivho

Question

The south African economy has been experiencing either negative or stagnant growth for more than a decade. This has resulted in high level of unemployment. President Ramaphosa has promised to come up with a recovery plan as a way of reviving the ailing economy. However, despite the endeavor the government is making, more and more jobs are lost every day. The lesson learnt from other countries facing the same situation as ours is that entrepreneurship ends up as a safe-haven for those who cannot be absorbed in the mainstream of the economy (formal sector).it also serves as the bloodline of the economy.

In light of this, discuss the role that tertiary education can play in order to address unemployment problem in South Africa. (Hint: focus on the role of transforming universities into entrepreneurial universities)

Answer 1

THE ROLE OF TERTIARY EDUCATION IN REDUCING UNEMPLOYMENT IN SOUTH AFRICA.

Collaboration with the industry.

Both universities and colleges in South Africa should coordinate with employers to design courses that will help to meet the current needs of the market. Employers and professionals need to identify skills required from those graduating from these institutions in order for them to be fully equipped for the jobs.

Entrepreneurship training.

Universities and colleges should include this training by use of digital innovation across all courses offered. This equips students with self-employment knowledge and skills. The government through universities should invest adequate finances to support students who come up with realistic business ideas.

Strengthening career guidance and counselling.

Career guidance and counselling should be incorporated into teaching to help underprivileged students. This will help in matching the traits of the students with the available occupations. More professionals should be trained by universities and colleges to help students in making informed decisions and acquiring relevant skills.