Understanding equity as an asset to national interest: developing a social contract analysis of policy

Alongside the influence of market-based reforms in education policy has been the growth of policy that has largely been overlooked – those that outline social contracts. This paper draws on policies that connect with equity as a way of illustrating this social contract turn in policy and develops a conceptualisation of social contracts as they apply to education policy. The argument provides three principles that underpin social contracts, including informed consent, negotiation and accountability. This paper applies these principles to three levels of social contract. At the first level are broad social contracts, which are associated with debates about the kinds of things that states should expect from its citizens, and the things that citizens could expect from governments and the state. The second level of social contract is an institutional or field-based social contract, which spells out the obligations and connections between a specific field and other fields. This level names a kind of social contract that is often exemplified in policies or statements by specific institutions. The third level of social contract deals with contract-like mechanisms embedded in fields that make tangible the obligations and expectations of citizens in fulfilling the expectations of fields.

Striving for educational equity and ‘world-class quality’ schools in Mauritius in global times

Concerns that the education system in Mauritius has not been adequately preparing students for work and life, and unsatisfactory academic achievement in schools, have fuelled the government’s drive to improve the quality of schools. These concerns exist within education structures that systematically segregate students into ‘star’ schools and less desirable schools that curtail the education experience of the majority of Mauritian children. Within this context, Mauritian education authorities have attempted various educational reforms aiming at ‘World Class Quality Education’ so as to contribute to an efficient and dynamic workforce and to meet the needs of an increasingly competitive, knowledge-based and globalised economy. Reflecting the Mauritian government’s ‘quality’ agenda and its focus on the work of school leaders, this article reports the findings of research exploring Mauritian principals’ views about the usefulness or otherwise of Total Quality Management (TQM) principles in raising educational standards. It focuses specifically on whether and how principals are addressing the mounting challenges brought about by globalisation. The findings indicate that, despite the government’s efforts at reforms, the education system detracts from ambitions to adequately prepare all Mauritian children for work and life in a globalised and networked world. The article argues that school leaders need to take proactive responsibility for ensuring that all Mauritian children have access to an education system that cultivates their participation as active citizens of the global community.

Towards a southern theory of student equity in Australian higher education : enlarging the rationale for expansion

Student equity in Australian higher education is a numbers game. While university student recruitment departments focus on ‘bums on seats’, equity advocates draw attention to which bums, in what proportions and, more to the point, which seats, where. But if the counting of ‘bums’ is crude, so is the differentiation of seats. Just distinguishing between courses and universities and scrutinizing the distribution of groups is a limited view of equity. This paper proposes an expanded conception for student equity and an enlarged regard for what is being accessed by students who gain entry to university. Drawing on Connell’s notion of ‘southern theory’, the paper highlights power/knowledge relations in higher education and particularly for ‘southerners’: those under-represented in universities, often located south of cut-off scores, and whose cultural capital is similarly marginalised and discounted. The paper concludes that taking account of marginalized forms of knowledge requires thinking differently about what higher education is and how it gets done.

Regime dependent causality : equity and credit markets

We apply a Markov switching model to investigate the possibility of an asymmetric causal relationship between the volatility process inferred from the iTraxx CDS options market and the implied volatility from the stock index options market. We find strong evidence that the stock market leads the CDS market and the effect of the implied stock market volatility is more significant during the volatile regime. We also find that a large jump in the stock return, up or down, may indeed be followed by a regime shift.

Costs of raising equity capital for U.S. REITs

The direct and indirect costs of raising equity capital by U.S. REITs through IPOs average 8.43% and 3.07%, respectively while these costs through SEOs average 4.63% and 1.18%, respectively. Ownership limit and the number of adverse risk factors identified in the IPO prospectus and underwriting syndicate structure determine such costs.

The final piece of the puzzle : assessment of information literacy in graduate medical students

Deakin University graduate entry medical students come from a varied knowledge base with regard to information research.

Assessment for the learning outcomes of information literacy modules will help to determine effective development of information searching skills for future clinical practice, teaching effectiveness, and identification of skills requiring additional support.

Assessment aims to provide encouragement to engage with the content being taught.