Online Education Market Can Save The Economy


With the global economic crisis affecting various countries around the world, governments, organizations, and economic experts are studying and looking for solutions to finally solve the crisis and to make the global economy more stable. One of the solutions recommended by economic experts especially in the United States is improving education and revolutionizing the education industry specifically the online education market.

According to some experts,  the education industry needs to advance especially when other industries in the economy have also greatly evolved for years particularly in terms of technological enhancements. Major industries experienced huge positive changes and improvements so students, teaching professionals and the whole academic institutions must be able to cope up with these changes and improvements.

Crucial Role Of Online Education

With the growing demands for technical skills and computer expertise, producing the best professionals and workers to enter the workforce for the economy is very crucial and online education will play an important role in producing the best workforce in the future.

EducationWith the emergence of online education and training programs, the International Data Corporation or IDC, a research firm specializing in information technology, consumer technology, and telecommunications, projected that the total spending on IT will reach more than $2 trillion for the year 2013. This major increase in spending will be brought about by the rapid increase in demand of businesses and industries for scalable and efficient online training solutions to improve business operations.

In fact, major companies like Plural sight and already received increased funding proving that business owners and investors are really willing to invest in online education and training programs in order to improve the education industry which in return is expected to have positive effects on the global economy later on. With more online education programs, a lot of students, professionals, and various industries can attend and receive scalable online training solutions resulting to more efficient workforce for the economy.

Technical And Coding

The global economy still needs to recover from the economic crisis it has suffered for the past years. The crisis resulted to a lot of major economic problems in various countries specifically in the employment rate. A lot of countries around the world suffered from increased unemployment rate and in the United States, unemployment rate reached a bad record of 7.9%. With the tough and competitive job market condition, future applicants must properly invest in quality education and training in order to gain advantage and secure a good job later on.

Online EducationTo secure a good job in the future, students and future professionals must be really prepared and that is by gaining the essential skills-set needed to standout and become preferable by the prospective employers especially for major companies and businesses.

For years now, people have given importance to language skills and indeed, knowing and learning more than one language can provide advantage in terms of employment especially when major countries and economies joined the global market. However, with the emergence of technologies from computers to mobile devices, these technologies have taken over. Aside from learning more language as much as possible, teaching children and students coding skills and software development during their early basic education will greatly improve their chances of getting great jobs later on.

According to Organization for Economic Cooperation and Development, US students are ranked 17th in Science and only 25th in Math from the 31 countries ranked by the organization. These ranking revealed that US students are still very much behind compared to other countries when it comes to new technologies. These major subjects taught in primary and secondary schools are the foundations for technical and software developments.

Software development, computer skills, and coding are very essential nowadays especially that most industries are now relying in computer technologies and coding for their operations. For businesses to become efficient and competitive globally, learning foreign language is not the crucial skill anymore but coding language. Learning this technical skill and having basic understanding at a young age can provide great advantages for future professionals in the future.

Growing Gap Between Business Needs And Education

Some research reveal the growing gap between what businesses needs from employees and what the academic institution is teaching to students and future employees. According to experts, online education and scalable training solutions can be the most effective solution to bridge this growing gap. A lot of online schools and institutions are now developing and providing wide range of customized courses designed to match the specific needs of businesses and industries they are expected to work in.

Better Employment Opportunities Through Online Education

If you are one of the thousands or even millions of students around the world that are deciding on what course to take to become a professional and get a good job someday, then you might want to consider IT courses, software development courses, or other degree programs related to computer. According to the US Bureau of Labor Statistics, information technology professionals, software developers, and computer experts are some of the top 5 most in demand professions in 2013.

The Bureau also projected an employment growth of 30% for the year 2010 to 2020 for these specific courses, which is much higher than any other professions in various industries. To cater to the growing demands for IT professionals and software developers in the coming years, a lot of schools are now offering online education programs for these specific courses. Even conventional schools are now offering online IT degree programs for students who want to pursue career in computer information technology.

Some of the top schools providing quality and accredited online information technology degree programs in the US based on the US News ranking are:

  • University of Southern California
  • Sam Houston State University
  • Virginia Tech
  • University of Bridgeport
  • Pennsylvania State University – World Campus

According to the US News, job outlooks for computer-related professions like programmers, developers, and product managers are expected to continuously increase in the next 10 years providing a great job opportunity for computer science and computer-related degree graduates.

Based on the US BLS Occupational Outlook Handbook, the median salary of computer programmers employed in the country today is around $71,000 per year while web developers and computer architects earn a median salary of approximately $75,000 annually. Software developers earn as much as $90,500 annually while those with higher positions like the information systems manager earn high salaries ranging from $110,000 to $120,000 every year.

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