"Malaysia iswell known for

its population

diversity andglobalised society.

It is a platformthat liberally

connects the east

and the west,

including religionsand cultures."

ProfessorAbdul RahmanOthman, DeputyDean (Academic

Affairs), Institutea/PostgraduateStudies, USM

SAMANTHA JOSEPH

ECONOMICS plays a prime prag­matic role when it comes to con­

sidering graduate studies in Asia.With the Eurozone crisis affecting notonly the ability of many Europeangovernments to keeptheir economiesafloat, but also the purchasing powerof its individual citizens, it isno surprisethat students who wish to pursue theirstudies in Europeor other high-incomenations will find themselves in afinan­

cial quandary.An article in Meld Magazine, a non­

profit outfit that caters to internatio­nal students in Melbourne, Australiapoints out the struggle of some Euro­pean students who have been hit bythe Eurozone crisis. The devaluation

of currency hits those on scholarshipsespecially hard, impinging on theirday-to-day expenses. Nevertheless,while the value of the Euro and theUS dollar in the after effects of the

subprime mortgage crisis struggle tofind purchase, the cost of tuition andliving expenses have yet to come toa similar decrease, making the outfitan increasingly unattractive option tostudents.

This particularly affects the Asi­an market, where in previous timesfamilies would use the stepping stoneof overseas education to ensure thattheir children would be able to start a

new life in a developed nation throughfirst getting an education at a westernuniversity, and subsequently findingemployment and achieving citizenshipthere. Unfortunately the employmentmarkets of the USand UK,while reco­vering, has become an unpredictableplace for immigrant professionals, and

as yet can hardly sustain the numberof graduates they themselves produce.Meanwhile, the demand for specialistsand professionals are only burgeoningin Asia,along with the increasing inte­rest in previously western-dominatedmarkets.

Tuition fees are another aspect thatAsia isable to best most other optionsavailable. As an example, a master'sdegree from the Univer-sity of Edinburgh busi-ness school can easilytally to RM79,232 forinternationa~ students,

not inclusive of livingcost that could easily goover RM3,000 a month.Their local studentsdon't fare much better,with their tuition fees

costing only RM17,000less, with the sameamount of living costs.On the other hand, amaster's degree fromthe National Universityof Singapore, a rankinguniversity in the TimesHigher Education lists,costs internationalstudents RM44,587,

and studyin~ an MBAat Thailand s private'Assumption Universitythat has its own on-campus mall willcost about RM40,865, and comeswitha lower cost of living.

The quality of education offered byAsian universities has also increased

significantly compared to even a deca­de ago, as the region becomes moredeveloped and recognises the impor­tance of educating citizens and crea­ting specialisations and nichesthrough

academic research.Institutions like the

University of Tokyo, the Hong KongUniversity of Science and Technology,and the Korea Advanced Institute of

Science and Technology have beenmaking waves as regional educationcompetencies increase overall. Whiledetractors may saythat most regionalhigher education institutes are goingnowhere fast in terms of research and

development attributes,it is best to keep in mindthat Asia as a whole is

still developing, and iscatching up to the deve­loped world at a prodigi­ous rate.

MALAYSIA CARVES HER

. NICHE: This develop­ment gold rush is oneof the reasons why theMalaysian governmenthas taken such a keen

interest in cultivatinghigher education onour home ground. Oneof the National KeyEco­nomic Areas (NKEAs)identified for Malaysia'sEconomic Transfor­

mation Programme iseducation, as it is seento have potential as anengine that drives the

country's desire to lift itself out ofthe middle-income category and intothe high-income bracket. Grants andother forms of financial incentives

from both the government and cor­porate sector are helping to speed upthe establishment of Malaysia's ownacademic research and developmentniche.

While support is being given to

existing institutions, the environmentin Malaysia has also encouraged thecreation of many new private univer­sities aswell aswelcomed the presenceof foreign branch campuses on localsoil. Currently there are over 600educational institutions in Malaysia,a number that includes public univer­sities, private universities, universitycolleges and colleges, foreign branchcampuses,polytechnics and communi­ty colleges.The ministry hasalso madean effort to affect some form of unifor­

mity with the international academicarena by scheduling the semesters tocoincide with those of the internatio­

nal system."Malaysian higher education insti­

tutions offer awide variety of postgra­duate courses at competitive tuitionfees:' says Professor Abdul RahmanOthman, the Deputy Dean (AcademicAffairs), Institute of Postgraduate Stu­dies, USM, touching on the fact thatMalaysia is a practical choice in termsof economics, quality and potential fordevelopment. "Malaysian academicswho supervise postgraduate studentsare graduates of internationally andlocally renowned universities, and arewell-versed in researchand publication.The institutions complement their aca­demics with modern and up-to-datelaboratories, information technologyand communication systems, librari­es, study and recreational spacesandfacilities. Most institutions also offer

affordable housing on campus:'At the same time, Malaysia is also

carving her own academic niches.Oneof the main points of academic focus isIslamic Studies, especially topics con­cerning Islamic finance. As Malaysia isgunning for the position of foremostglobal Islamic finance hub, the crea-

tion of the Malaysia Islamic FinancialCentre to aid this idea through com­merce and business practices, and theInternational Centre for Education in

Islamic Finance that awards graduatedegrees in financial specialisationsshould come as an encouraging move.In terms of new content, Universi­ti Putra Malaysia's Graduate Schoolof Business's philosophy of humangovernance is also making waves asan alternative to the long held princi­ples of human resources, offering anethical and spiritual. alternative thatmay change the face of the businessworld as we know it.

Another aspect that makes Malay­sia an attractive location to pursuegraduate studies is its unique situati­on as a cultural hub, food heaven anda centre from which other cultures

and .countries are easily accessible."Malaysia is well known for its popu­lation diversity and globalised society:'comments Professor Abdul Rahman.

"It is a platform that liberally'connectsthe east and the west, including religi­ons and cultures.

However,the keyarea in postgradu­ate education that sets us apart fromother countries in Southeast Asia is

western style postgraduate coursesand programmes offered in English,taught or supervised by academicsthat are trained internationally or arefamiliar with international expecta­tions at affordable prices."

The casefor Asia, and especially forMalaysia,asthe new wellspring of edu­cation isstill evolving, but if the currententhusiastic approach being practicedby those involved is anything to go by,there issure to be a lot more develop­ment on this front. We can only waitand seewhat the future holds.