Higher Education

Higher Education

 

Eric Hiller takes a look at the effects of the COVID-19 pandemic on higher education and discusses the pros and cons of online learning. 

 

“With the advent of our unfriendly visitor from Wuhan, the COVID-19 virus, a lot of things have changed. Higher education has been particularly hard hit. I could not find a complete list of colleges and universities in the USA that were closed, but one can get a pretty good qualitative sense of the effect, for example:

  • Unesco shows an excellent map of school closures. Many countries have shut down schools nationwide! ‘According to UNESCO monitoring, over 100 countries have implemented nationwide closures, impacting over half of the world’s student population.’ Only the USA, Canada, Brazil, Russia, and Indonesia seem to have localized closures, although some countries do have universities open. 
  • Anecdotally, some of the most prestigious Ivy Leaguers, such as Harvard and Princeton have closed campuses, and other powerful state schools, such UC Berkeley, have campus technically open, but all instruction is online.
  • Local lists of closed colleges and universities overflow.
  • The dire state of higher ed and short-term effect of COVID-19

The short-term effect of the Chinese CoronaVirus on colleges could be devastating, i.e. this could be the coop de grace that forces schools on the bubble into the grave.” 

 

The article explores:

  • The four basic tools used for learning
  • Where the online model doesn’t work
  • Why COVID-19 is a long-term higher ed forcing function

 

Read the full article/release, Eric Hiller Examines Covid 19 Effect on Higher Education, on The Express Wire. 

 

 

Tobias Baer explains why the lack of randomized testing hampers businesses and raises the costs of the COVID-19 pandemic. 

The lack of randomized testing again and again hampers businesses because it means executives need to make decisions half blind – and Covid-19 is no different, only that in the case of Covid-19, the cost of not doing randomized testing literally might run into the trillions of dollars.

Randomized testing is nothing new – and widely considered best practice in the business world:

 

  • Marketing executives should run A/B tests to make sure that ads and other marketing outlays actually influence purchasing decisions and isn’t wasted on customers who would have bought the product anyhow (or worse, even discourage buyers);
  • Banks and insurers randomly approve a small sample of credit or insurance applications rejected by their policy rules because otherwise they cannot know how many errors these rules make and if they lose any profitable business;
  • Online sellers use randomized pricing experiments to test how much more or less revenue and profit they would make by raising or lowering prices a bit.

 

Read the full article, Why Covid-19 illustrates once more the need for randomized testing: Paying the price for biased information, on LinkedIn.