Bangladesh University of Professional

Assignment No: 02

Course Title: Business Economics

Course Code: BUS 8403

Submitted to:
Professor Dr. Md. Arifur Rahman
Masters of Business Administration (Professionals)
Faculty of Business Administration
Bangladesh University of Professionals

Submitted by:
Name: Md. Anayet Hossain Rifat
Batch: 31st
Roll No: 22230331108
Section: B

S u b m i t t e d o n : 04/ 11/ 2 0 2 3
That there has been a revolution of growth, expansion, and reach of higher education in Bangladesh is a
reality. This is no longer a matter of debate, but a matter to reckon with. Currently 3.2 million students
are enrolled in tertiary level education compared to only 31,000 in 1972. The total tertiary enrolment
over the next decade (2016-2026) may reach 4.6 million according to an estimate made by the
University Grants Commission (UGC) of Bangladesh. Of the total number of students currently enrolled
in tertiary level education, the theology based Islamic University (Fazil and Kamil Madrasas are affiliated
with IU) accounts for 8.2 percent of total tertiary enrolment while the National University that is
affiliated with all degree colleges of the country accounts for 72 percent. The 32 public universities and
84 private universities currently functioning together claim around 23 percent of the total number of
students pursuing higher education. Set up in 1973 under a special Presidential Order when the country
had only six public universities, four general and two specialised, UGC is the apex body that monitors the
academic and administrative (partially) activities of these universities.

The Cost of Education

In the wake of the coronavirus outbreak, the underbelly of our economic structure has become exposed.
The financial insecurities became evident as requests for aid started pouring in. Many students have not
enrolled in the coming semester, most likely due to financial reasons. Some universities are making large
claims of their generosity. In contrast, we have seen students and parents showing resentment against
the fees that are being imposed. Already, we have come across news of guardians and students being at
loggerheads over the payment of tuition fees of English-medium schools. Some private schools charge
exorbitantly high fees, and with the transitioning of education to the online platform, the stakeholders
are now asking about the savings being made in operating expenses. In the public system, such
questions are not encouraged. Those involved in administering the system often resort to a power
position to give the impression that education is a privilege. They forget that the students have made
their way through hard work and merit. And the privilege to which they are entitled is guaranteed by the
constitution, and sponsored by the taxpayers. The JnU VC's outburst shows a total disregard for such
conditions. There is no shame in being poor, but there is shame in harbouring poor mentality. As we are
trying to solidify our position as a middle-income country, the time has come to change our attitude
towards education. This year, the government has allocated Tk 24,937 crore for the primary and mass
education ministry, Tk 33,118 crore for the secondary and higher education division, and Tk 8,345 crore
for the technical and madrasa education division. The share of allocation in the GDP stands at 2.09,
against the UNESCO recommended allocation of 6 percent.

For instance, there is no special allocation to upgrade the status of our universities. The poor show of
our universities in world rankings is symptomatic of our deficiencies in institutional infrastructure,
impactful research, and value addition. Only Dhaka University, which will celebrate its 100 years next
year, has found itself outside the 1000 club of world universities, according to Times Higher Education.
Others do not even appear in the radar. Something is essentially wrong with our education system. And
money alone will not solve the problem.