preprints.org > business, economics and management > business and management > doi: 10.20944/preprints202307.0754.v1

Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Version 1 : Received: 11 July 2023 / Approved: 11 July 2023 / Online: 12 July 2023 (05:45:43 CEST)

With limited state budget, developed nation public higher education have increased their fees making education expensive for most developing nation students. Some developing nations have set up regional low-cost education hubs to attract developed nation universities to offer their reputable degree programs. However, the intense competition for student enrolment in both has led to the marketisation of education. Students as paying customers need to experience satisfying stress-free teaching and learning to sustain enrolment. With employers increasingly unhappy with the quality of human capital, has the marketisation of higher education led to nominal human capital development? Can substantive human capital be developed in the new normal of marketisation of higher education? An adaptation of randomised control trials was used to measure learning outcomes desired by future employers for two teaching and learning approaches namely students as customers (n=497) and employers as customers (n=355). Findings show both approaches have good learning outcomes with the latter generally more superior. However, the former leads to nominal learning outcomes. This research extends the literature on achieving substantive learning outcomes conducive to employability. Implications for student satisfaction, lecturer professionalism, employability and quality assurance are discussed.

higher education; learning outcomes; student satisfaction; human capital development; employability; lecturer professionalism

Business, Economics and Management, Business and Management

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