SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
User avatar
ISayMoo
Topic Author
Posts: 941
Joined: September 30th, 2015, 8:30 pm

UK's budget accounting scandal

September 7th, 2018, 12:02 pm

Tuition fees

If this was Greece, we'd be having Troika executioners heading our way ;-) But no worries, there will be an inquiry headed by a Lord or Dame.
 
User avatar
Cuchulainn
Posts: 56683
Joined: July 16th, 2004, 7:38 am
Location: Amsterdam
Contact:

Re: UK's budget accounting scandal

September 8th, 2018, 10:13 am

Someone has to pay for the burgeoning ranks of university administrators?

https://www.hesa.ac.uk/data-and-analysis/staff

Education is the next great big bad bubble; quantity not quality. 

It also means that only the elite get into universities.
 
User avatar
ppauper
Posts: 68468
Joined: November 15th, 2001, 1:29 pm

Re: UK's budget accounting scandal

September 8th, 2018, 5:19 pm

I think in the 1950's in the US, there was a great quote from an economist that if you increase the number of people going to university, the next thing you have to do is lower the career expectations of university graduates.
 
User avatar
ISayMoo
Topic Author
Posts: 941
Joined: September 30th, 2015, 8:30 pm

Re: UK's budget accounting scandal

September 9th, 2018, 12:20 pm

Or reform the economy.
 
User avatar
Cuchulainn
Posts: 56683
Joined: July 16th, 2004, 7:38 am
Location: Amsterdam
Contact:

Re: UK's budget accounting scandal

September 9th, 2018, 5:17 pm

ppauper wrote:
I think in the 1950's in the US, there was a great quote from an economist that if you increase the number of people going to university, the next thing you have to do is lower the career expectations of university graduates.

It's almost impossible to find a plumber these days.
 
User avatar
Paul
Posts: 8530
Joined: July 20th, 2001, 3:28 pm

Re: UK's budget accounting scandal

September 9th, 2018, 6:52 pm

ppauper wrote:
I think in the 1950's in the US, there was a great quote from an economist that if you increase the number of people going to university, the next thing you have to do is lower the career expectations of university graduates.

There was a mathematician in the UK who said the same thing when Blair introduced the 50% target.
 
User avatar
bearish
Posts: 3589
Joined: February 3rd, 2011, 2:19 pm

Re: UK's budget accounting scandal

September 9th, 2018, 11:17 pm

Cuchulainn wrote:
ppauper wrote:
I think in the 1950's in the US, there was a great quote from an economist that if you increase the number of people going to university, the next thing you have to do is lower the career expectations of university graduates.

It's almost impossible to find a plumber these days.

But when you find one, he knows how to solve the Navier-Stokes equation!
 
User avatar
Cuchulainn
Posts: 56683
Joined: July 16th, 2004, 7:38 am
Location: Amsterdam
Contact:

Re: UK's budget accounting scandal

September 10th, 2018, 8:34 am

bearish wrote:
Cuchulainn wrote:
ppauper wrote:
I think in the 1950's in the US, there was a great quote from an economist that if you increase the number of people going to university, the next thing you have to do is lower the career expectations of university graduates.

It's almost impossible to find a plumber these days.

But when you find one, he knows how to solve the Navier-Stokes equation!

Many of them have higher degrees in fluid dynamics. Our (viscous) sewage system was blocked a few weeks ago. It is important have the pipes at a slope when building a house (gravity!). Every answer from the plumber is "it's not rocket science". Not fixed-price..I now have a 1000 litre water tank on an elevation to ensure enough head. Not rocket science. Q: how long does it take to fill the tank from an upstream source 2km away at a slope of 25% (through 1/2 inch pipe).

You can come a long way with Bernoulli.
https://en.wikipedia.org/wiki/Bernoulli%27s_principle
 
User avatar
ppauper
Posts: 68468
Joined: November 15th, 2001, 1:29 pm

Re: UK's budget accounting scandal

September 10th, 2018, 12:27 pm

I know of a mediocre university which offers a joint program with a nearby technical college.
Students get a physics degree at the university then learn how to be auto mechanics at the technical college, where they probably learn alongside college dropouts.
 
User avatar
ppauper
Posts: 68468
Joined: November 15th, 2001, 1:29 pm

Re: UK's budget accounting scandal

September 10th, 2018, 12:35 pm

that quote was Samuel Huntingdon in the 1970s, not the 50s
As for the programmed decline of the American economy, CFR member Samuel Huntington argues that, if higher education is considered to be desirable for the general population, "a program is then necessary to lower the job expectations of those who receive a college education."
Michael Crozier, Samuel P.Huntington, and Joji Watanuki,
The Crisis of Democracy
(New York: New York University Press, 1975) pp. 183-84.
 
User avatar
ISayMoo
Topic Author
Posts: 941
Joined: September 30th, 2015, 8:30 pm

Re: UK's budget accounting scandal

September 11th, 2018, 7:22 am

Ah, the cheating guy: https://en.wikipedia.org/wiki/Samuel_P._Huntington#National_Academy_of_Sciences_controversy
ABOUT WILMOTT

PW by JB

Wilmott.com has been "Serving the Quantitative Finance Community" since 2001. Continued...


JOBS BOARD

JOBS BOARD

Looking for a quant job, risk, algo trading,...? Browse jobs here...