Economics of Online Learning and Distance Education
Abstract
This research paper is based on a Minor Research Project awarded by the University of Mumbai for a period of 1 year from 2014-15. It focuses on the emerging trend of distance education and online learning witnessed by several nations. The area is covered under Mode I of the General Agreement of Trade in Services (GATS) of the World Trade Organization (WTO) and is fast gaining currency across the globe with major players like the established ones of the West, namely America; along with emerging nations like India from the East. This makes perfect economic sense as it synchronizes all stakeholders’ interests by matching rising demand and aspirations of the youth with not so flexible supply of higher education services. The costs and logistics also create a ‘win-win’ situation for all. Adult education is the greatest beneficiary as ‘second chances’ are created for the ones who the first one; thereby widening people’s choices and opportunities to nurture human resource development. This macro trend is qualitatively enhanced by sharing a micro-level experiment of ‘reaching the unreached.
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