Higher Education Ministry would like to extend the duration of degree course from current 3 years to 4 years to solve the high unemployment situation of graduate from public university in the country.
Last time , when the Education Ministry implement such plan. The economic cycle like now are on the uptrend. After the Education Ministry implemented such plan. The country face shortage of labor and thus cause salary to escalate. Employer would give any rate on what employee asking for. Malaysia become less competitive cause by higher labor cost. Education Ministry then have to change and shortern the duration from 4 years to 3 years to solve labor shortage problem. However, Education Ministry misread the economic cycle. Immediately after it has shortern the duration of degree course. The country was hit by Asia financial crisis and become recession again.
I feel the Higher Education Ministry misread economic cycle again this time, just like it did previously. We might face labor shortage problem and escalating salary few years down the road. Of course this is chicken and egg situation. Whether shortern the duration of degree course that reduce unemployment cause the economic to boom or the economic boom and lengthier of the duration causing the shortage of labor is debatable. However, I strongly believe the later.
TechnoratiTag:Asia Commentary competitive Economics Economy Malaysia News and politics Opinion Politik Social
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