Question

As ABAC International University continues to grow and grow, expanding into post graduate, and doctorate courses, many have asked for higher education to be free. Describe the advantages and disadvantages to the economy, if education was free in Thailand.

Answer 1

Free education is education funded by government or other charitable organizations.In Thailand free education began in 1996.Education in Thailand is provided by the Thai government from pre school to senior school.A free basic education of 15 years is provided.Higher education is necessary but unaffordable to many.The growing access to higher education is the priority of national government.The short run cost of higher education is large but the long run cost is less because higher education pays back the benefits over time.The advantages to the economy of Thailand if free higher education was provided would have been fostering equality in schools.All children having access to same quality of education is an advantage .Free education gives equal opportunity to all and promotes fairness in the economy.However the disadvantage to the economy is that there will be more quantity but less quality of education. More students will go to college as education is free but the quality of higher educated people will deteriorate.Value of college degree will fall as more people will get the degree.Government of Thailand would have to provide more money to the colleges and in order to increase revenue taxes might go up in the economy.