Analyzing the Societal Impacts of the New Economy on Education

This report examines the profound impacts of the new economy on education systems worldwide. It begins by establishing the direct relationship between education and economic growth, emphasizing the importance of skills development for individual and national prosperity. The report highlights the widening education gap and how the educational landscape has changed alongside economic shifts. It describes key problems, patterns, and social impacts, including the roles of gender, ethnicity, and age. The analysis explores the link between these patterns and past, present, and future economic changes, demonstrating structural changes and inequalities. The report also presents potential policy outcomes designed to alleviate these inequalities, offering insights into how education can adapt to and mitigate the effects of the new economy. The report also discusses how the new economy has changed the expectations and requirements of education, and the challenges brought by globalization and technological revolutions. It concludes by emphasizing the need for education to equip individuals with real-life problem-solving skills and overall personality development.

Social theory and policy task
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Table of Contents
Research Question:.....................................................................................................................3
Introduction................................................................................................................................3
Summary of the situation: description of key problem and patterns, social impacts, “winners
and losers”, why it matters?.......................................................................................................3
Empirical patterns that suggest evidence for the types of change over time relevant to your
argument (qualitative and quantitative data)..............................................................................4
How the patterns are linked to economic changes past, present, and future (as well as other
social factors such as gender, ethnicity, and age) to demonstrate structural change and impact
such as inequality.......................................................................................................................5
Suggestions of potential policy outcomes to alleviate inequalities............................................6
Conclusion..................................................................................................................................8
References..................................................................................................................................9
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Research Question:
What are the impacts of the new economy on the education across the world?
Introduction
Relationship of education and changing economy is directly proportional as education can be
used as a weapon through which overall skills of an individual can be improvised that would
lead to higher productivity and growth of the economy of a country. The significance of
education is all about acquiring potential earnings that would make an individual acquires
name and fame. Schools are the most significant systems through which the education system
is facilitated. However, with the passage of time, it has also been observed that the education
system has been changed a lot with the changing economic conditions. Herein, in the study, it
has been determined about the widening education gap and also the difference that has been
brought a huge variation in the education system.
Summary of the situation: description of key problem and patterns, social impacts,
“winners and losers”, why it matters?
Education has become an integral aspect of everyone’s life and has also become obvious to
get updated with different trends of the educational system (Gest, 2016). With the greater
level of education, an individual would be able to equate greater potential and would also be
able to develop increased scope of responsibility and also be benefitted in his/her professional
field. However, the current education system caters to facilitate sociological problems
basically the primary education institutes (Everingham, 2018). One of the most vital
development that has taken place in the Social science during the last few decades has been
the desire the fill the gap that has been created by the mainstream failures of economics in
order to perform research on the economic institutions.
Institutional economics has been moving from a position that can help in drawing the various
other disciplines for a stance of building the argument for almost entirely of the materials that
are neoclassical. The sociological frameworks in the context of the words can be used to
elaborate the idea of embeddedness which can help the countries in terms of their economic
relation among the individuals or forms that can take place in the existing social relations.
The network of social analysis can be used in the primary method of believing he phenome
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with the help of education (Mok and Jiang, 2018). The frameworks can be used in
strengthening the weak ties. Education along with proper understanding of the socio
economics can help in dealing with the analytical, political and ethical questioning of the
arising among the intersection among the economy and society with the help of huge
interdisciplinary perspective of the relation that has been tying up sociology along with the
political and economic aspects (Osborne, 2015).
With the help of the mentioned framework different paradigms can be analysed that highly
affects the society. This would also be effective for analysing different perspective of how the
society caters to influence individuals. However, the framework is also effective for
analysing the pessimistic impact on an individual through which they decide winners and
losers, and its impact on their lives. Henceforth, with the passage of time the thinking and
behavioural pattern of people has been upside down. The decision also highly depends on the
gender, male and female concept is of high importance and additionally, multiculturalism
and ethnicity are also certain important terms that play a significant role in career decision.
Conflict theory
The major focus of the theory is on the female workers’ who have to encounter several work
and family related conflicts that might lay a negative impact over the personal decision
making process of females. Here, it can be evidenced that there is a huge gender gap that
restricts the females from taking decisions of their own life.
Empirical patterns that suggest evidence for the types of change over time relevant to
your argument (qualitative and quantitative data)
Sociological theory can be developed at various levels which can range from the grand theory
along with particular micro range theories. There are several middle range theories in
sociology. Such theories are dependent on the relevance and particular to certain scenarios it
can be beyond the scope of the text to explore every one of the theories. The purpose of the
instance can help to introduce certain of the more well known and most commonly concert as
the grand and middle range theories in sociology (Kagan et al., 2019). Economic sociology
has been the concept and application along with the analysis of the production and
distribution of goods and services. However, the traditional economic analysis has been taken
into consideration of the atomistic individual as it can help the economics and sociality to
being in a holistic manner along with the healthy interpretation. It can be said that the concept
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of power culture prevalent in economic institution in the sociological theory can eventually
lead to the practitioners to examine the relation between the government and economy. The
economic and social aspects have been generally asserted that the state along with the
economy has been existing in the relationship that can be symbiotic. The economy has been
dependent on the rules and regulation related to law. Conventional economics can help to
provide a structured way of analysing about the determination of the social operations
(Bennett et al., 2017). The economics can divide between those who are inclined towards
psychology or biology and others who are more into social methods and sociology.
The sociological approach can be used to determine the completion of the model of
economics that can give rise to come real questions of the difference in realms who can come
from the first place along with the realms when the society has been composed of more than a
single one being (van der Have and Rubalcaba, 2016). The general issues can appear in
specifically acute method of determination of the socio-economic methods that can help in
leaving behind a society which can be experiencing a variety of real and the frontiers can be
properly defined and changing in one frontier that can be flexible and effectively emerging.
How the patterns are linked to economic changes past, present, and future (as well as
other social factors such as gender, ethnicity, and age) to demonstrate structural change
and impact such as inequality
Education can be asked to help the society to meet a number of issues in the society. The
most pressing issues that education is believed to be overcome is the economic challenges
which can be perceived requirement for the people with many skills and need for equalizing
the delegation of talent and salaries in the population. As observed by Mellahi et al., (2016),
the policy makers in the past have been more aware of the relationship between education
and economic health along with the best approaches which can help the nation to maintain
their economic position. Proper analysis of the relationship between education and economic
scenario can be a issues in forming the policies and therefore can become a controversial
task. The fragmentation and decentralization of the education in the new economy can only
make the formulation of the policies to be more difficult. As per the views of Witt, (2016),
the maker of the policy and the various scholars have been arguing over the extent by which
the education and the system of training might fail in order to prepare the people to be taking
participation in a holistic manner in the new education system in the new economy.
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However, the locus of the responsibility of the impact of the improvement has been shifting
due to the economic and political climate that can be the reason of reducing the role of the
government and placing enhanced reasonability along with fiscal control in the hands of the
state government. It can be said that education and training policies and systems are more
flux in the new economy. Moreover, the new economy which can also be termed as
informational economy and knowledge economy can help to bring new demands in education
among the people (Bowe et al., 2017). Changing the education centring the economy can be
challenging as the expectations in the modern world has been changing. Other than that, the
cultures coming together and the shrinking border working to globalization has been one of
the challenges that education needs to cope in the era of technological revolution. The
education does not only limit itself to the textbook knowledge but the overall development in
the personalities which can allow individuals to be more real-life problem solving is the real
impact that education needs to provide in the modern world.
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Suggestions of potential policy outcomes to alleviate inequalities
The economic consideration and conditions of a nation affects the population as a whole but
the impact of the same on the working class is much more vivid. Specifically speaking,
working class within a population of any given nation may be referred to as the particular
class or group of people who are devoted to sustaining their livelihood depending upon
earning bread through utilising acquired or gifted talent (Glenn, 2016). The persons were
born in the Generation X, millennial and post millennial period can be considered to be the
working class within any country. More precisely, age group deciphering an age range of 21
to 60, may be affirmed to be mentioned. This class depicts a major dependency on the
corporate sector, as observed in minority of the developed countries (Bulmer, 2016).
However, the percentage of the concerned indulged in the non-corporate arena is also not
negligible. The 'per capita income', that is, income calculated over per head scale, influences
the prevailing to a great extent. The effect of working class on the economy of a nation is
such, that the unit of economic progression has been considered to be each and every
individual falling under the ambits of the respective class. 'Job' can therefore be affirmed as
the key attribute of the said concern. Owing to the facilitation of a job each family earns its
livelihood and the same adds on to the economic growth of the country (Orleck, 2017). In the
recent era, with the introduction of globalization, the crave for aiming towards more has
enabled the economic considerations to be at its highest peak, compelling and shrinking the
breathability of the working class as the maximum indulgence has been comprehended within
the said class.
The prominent trends in the structures of the family and the shifts over the last few years are
quite well known. The rate of fertility has been decreasing along with the child bearing that
can occur later and mostly the marriage has been delayed and the relation between the marital
and non-marital one that becomes more fragile (Dumas et al., 2016). The transformation can
lead to more complex composition of the families that can be growing in diversity of the
forms of family and other relationship on the course of life. The new trends in family along
with patterns can help to paralleled by the transformation the roles of the gender which can
help in expansion of the role of the female due to which in the last few decades the role of the
male has become more intense in the involvement of the responsibilities of the family and
particularly taking care of the children. The decision making has not been only limited the
male members of the family which can be described simply as a collection of well-defined
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roles as it has been negotiated on a regular basis which can be developed by the interactions
among the partners at the micro level and impacted by the macro structure in the economic
and political aspects (Ballantine et al., 2017). Work and family have been impacted by each
other in the new economy where the male along with their female counterparts has been
engaged in earning bread along with caring activities and may even be reinforced in
preciousness.
The relation of the genders and attitudes has become more flexible and has been changing
rapidly over the course of life in the context of dominating the boundaries of family and
professional lives for the men (Wood and Logsdon, 2017). Disruptive change to business
model can have a profound influence on the employment landscape over the recent years.
Variety of the major drivers of the translation currently impacting the global industries.
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Conclusion
From the above study, it can be concluded that the education system of recent times has been
facing several issues and hence, it is necessary for the families to ensure that their children
are able to get the best education as this is the key to success. However, it is also necessary to
cope with the advancements provided by the education in order to deal with the various
concepts that has been impacting new economy and sociology like urbanization and
secularisation. The sociology that has been dealing with new economy and changing
education needs to include all the modern phenomenon that can highlight the interaction of
sociology and interaction. The study helps to depict the impact of the new economy on the
education and the other aspects of the life of people. The information for the study has been
gathered from secondary sources like journals and articles for acquiring evidence to support
the literature put forth herein to understand the education gap between female and male.
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