Abstract:

Education is the key pillar in shaping of a national economy. The way the young generation is groomed, that is, given skill sets both technical and soft skills defines the way the economy of the country would progress.One can define education in three stages Primary (School) where in the basic skills are taught – Languages, Maths, Sciences, and Social responsibilities and also the personalities are shaped, Graduate level- More specific knowledge regarding the specific stream – Mechanical engg. Medicines, pharmacy literature

Post graduate & Doctoral – in depth study of specific subject, research in particular subject varying from Demographic behavior of a target group, spray combustion in a diesel engine.

Globalization – Since the 1990’s the boundaries between countries, ethnic groups and economies have blurred. The European union, the emergence of economies ( BRIC) Brazil- Russia- India China have changed the way business is conducted

Globalization first stated by changing the way we do business. For eg out sourcing of an automobile component to a country where the specific skill sets (e.g labour) are available and low end technology suitable to produce the product. These were first called as body work nations . the Head work nations are the Developed countries (USA, Canada, Britain, France) etc who would do most of the research and innovations and convert them into marketable commercial products.

The economies of the developed countries soon found it non viable to do low end jobs where in the wages paid would be sufficient for individuals to maintain a high cost of living.

Hence education in these countries put more emphasis on research and innovation to make products, management procedures and upgradation of skills in such a way so that the standard of living is viable by making innovative products in an efficient manner.

However in developing countries like China and India due to the priority given to education, the two nations are now producing more engineers, software professionals and now want a larger share of Head work ( R & D, hi tech) work which was predominantly the domain of the developed countries.

For eg as the level of education has gone up auto giants like GM, Volkswagon who first started with auto components outsourcing to India and China have setup full fledged manufacturing facilities to make cars in India and China as the supply of trained Engineers has steadily gone up. Setting up of a R & D cnetre by GM in India is one such indication. Similarly India had gone on a computer Literacy, Computer programming drive in the 1980’s kick statrted by the government which was criticized at that point in time. However this enabled India to produce IT professionals of a high caliber to cater to the burgeoning demand for software professionals throughout the world. Hence earlier investment decisions, think tank of a multinational company was based in the developed nation with the management comprised of executives from the developed nations. However now one can see a paradigm shift in this situation with executives from developing countries are now a part of the management of the company

The paper aims to shall throw light on the effect of education ( educational policies of a nation) on competitiveness and the change in the socio, cultutral and the economy of developing countries vis a vis globalization + on the global economy

Keywords:

Education, Globalization.