Mapping decline and recovery across sectors

Different sectors enter and emerge from downturns at different times. A look at past recessions suggests how some industries may fare.
Bin Jiang, Timothy M. Koller, and Zane D. Williams

In an ideal world, every company would enter a recession led by a team of grizzled executives who could draw on their experiences of past downturns to guide it through the current one. Many companies don’t, however, and even for those that do, it can be difficult to rise above the crisis to ponder the lessons of history. Yet in a recession, developing accurate strategic plans is usually a high-stakes effort. False assumptions about the pace, scale, and timing of growth may slow progress in good times but could be fatal now.

Read More

Business ethics and OECD principles

What can be done to avoid another crisis?
The global economic crisis was partly caused by a failure of business ethics. In response, the OECD is developing a framework to help countries enhance transparency in areas like finance, competition, corporate governance, taxation and pensions, building on instruments such as its Principles of Corporate Governance and Guidelines for Multinational Enterprises.

IASB & FASB propose joint approach for revenue recognition

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) published for public comment a discussion paper setting out a joint approach for the recognition of revenue.


Revenue is an important number to users of financial statements in assessing a company’s performance and prospects. However, revenue recognition requirements in US generally accepted accounting principles (GAAP) differ from those in International Financial Reporting Standards (IFRSs) and both are considered in need of improvement. The requirements in US GAAP comprise numerous standards—many are industry‑specific and some can produce conflicting results for economically similar transactions. Although IFRSs contain fewer standards on revenue recognition, its two main standards have different principles and can be difficult to understand and apply beyond simple transactions.



The discussion paper is open for comment until 19 June 2009.



Preliminary Views on Revenue Recognition in Contracts with Customers is available on the ‘Open for Comment’ section on http://www.iasb.org/from today

New releases from the OECD

Financial crises: Past lessons and policy implications
This overview paper examines the financial crisis in light of past country experience and economic theory and draws preliminary policy recommendations. A number of facets of the crisis are detailed, including its origins and spreading factors as well as crisis resolution polices and their associated gross and net fiscal costs.

The challenge of the financial crisis and faith in multilateralism
The crisis has shown the vulnerability of a global economy based on the idea that ever increasing production and consumption were the key to success, says OECD Secretary-General Angel Gurría. But this crisis is “a big opportunity for change, a colossal opportunity to bring about a greener economic growth and a more inclusive and reliable globalisation.”

University news from Africa

EGYPT: Corpse shortage affects medical students
Ashraf Khaled
When he applied to attend the medical school of Cairo University, Egypt's biggest public institution, Ahmed Masoud never dreamed he and fellow students with limited economic resources would face the problem of a shortage of corpses for autopsy training. "This badly affects our medical skills," says Masoud. "And, with examinations nearing, we are left with two options: either to buy corpses ourselves or attend private tuition classes in anatomy. Most of us cannot afford either."

ZIMBABWE: Universities demand US dollars
Clemence Manyukwe
Universities and their lecturers are demanding payment in foreign currency, with the institutions charging dollar tuition fees of US$700 and $1,500 per semester, as inflation in the crisis-torn southern African country plays havoc with the local currency and the education and health sectors collapse. Students are not sure whether they will get their results after lecturers declined to mark examination scripts, citing poor salaries and working conditions.

NIGERIA: Government in court over ruling councils
Tunde Fatunde
The Academic Staff Union of Universities, the ASUU, has dragged the N igerian government before the Federal High Court, challenging as illegal President Shehu Musa Yar'Adua's failure to reconstitute the governing councils of federal universities. All councils were dissolved in 2007 and the lack of the decision-making bodies has hampered university operations. The court action has jolted the presidency which claims to champion the rule of law.

UGANDA: Students protest 'discriminatory' fees
Kayiira Kizito
Late last year, Kenyan students enrolled at Makerere University, Uganda's most famous institution, protested against 'discriminatory' foreign student fees and other charges. As with many other universities around the world, Makerere charges differential rates for domestic and international students with those from East Africa pay around 1.5 times the local rate.

TUNISIA: Conference discusses Averroès project
Mobility of university students and teachers, and joint studies and diplomas, were on the agenda at the University of Sousse during a three-day conference to discuss the Euro-Mediterranean Averroès programme, reported La Presse of Tunisia

SENEGAL: Alumni demand dismissal of UCAD rector
The alumni association of the Université Cheikh Anta Diop (UCAD) of Dakar, Senegal's biggest university, last week demanded the immediate departure of rector Abdou Salam Sall, claiming he was the "principal obstacle to a calm academic year". If he did not leave, they said, they would "paralyse the university".

CAMEROON: Forgers of Slovakia university papers bust
A network of forgers who extorted large sums of money from parents hoping to enrol their children as students in Slovakia has been uncovered in Yaoundé and Douala, say newspaper reports.

MALAWI: Plans for a Muslim university
Malawi's former President, Bakili Muluzi, is planning to open a Muslim university. The institution will join other church-run universities - the Catholic University and Livingstone University (which is run by the Presbyterian Church) - to outnumber Malawi's two public institutions, the University of Malawi and Mzuzu University.

ZAMBIA: University to charge 'economic' fees
The University of Zambia will begin charging 'economic' fees this year after submitting proposals to the government. Vice-chancellor Professor Steven Simukanga said that although the government wanted affordable student fees, this was not possible because government grants were inadequate said.

University News from the West

GLOBAL: Ban sex between lecturers and students?
Paul Rigg
When Professor Istvan Pogany, 57, began a consensual relationship with one of his students at Britain's University of Warwick, he did what many would consider 'good practice' and informed his line manager. But the student, who is in her 30s, then fell pregnant and her subsequent anguished decision to have an abortion led to lurid headlines that raised the question again whether intimate relationships between academics and students should be more strongly discouraged, or even prohibited.


US-INDIA: Boosting private-public partnerships
Geoff Maslen
A high-powered taskforce set up by the US Asia Society to expand interactions between India and the new Obama administration has called for the creation of education partnerships between the two nations to cope with India's burgeoning higher education and secondary school populations. In a new report*, the taskforce says the training requirements for India's large population exceed current capacity, "a challenge uniquely suited for linkages with US institutions".

INDONESIA: Students swindled and stranded
David Jardine
A scandal involving 49 Indonesian students who sought places in Egypt's prestigious Al-Azhar University has been revealed. Instead of enrolling in the Cairo university, the students ended up in Malaysia where 15 were discovered doing odd jobs to support themselves.

BANGLADESH: Private universities meet demand
Mahdin Mahboob
The system of private universities is a relatively new concept in Bangladesh. Because of the ever-growing demand for education at the university level, and the fact that existing public universities could not meet the need, the government passed a Private Universities Act in 1992. Starting with a handful, the number of private universities has grown rapidly and stands at 54 to date, compared with 21 public universities.

UK: Reskilling and upskilling
Diane Spencer
The higher education sector should play a greater part in the government's agenda of improving skills of the workforce, says a new report* by a parliamentary select committee. MPs looked at the review of leading businessman Lord Leitch, published in 2006, which was based on depressing statistics revealing the level of skills among the UK working population.

GLOBAL: New African research resource
A new online search portal called the HERANA Gateway provides access to the latest research on African higher education. Using Google technology, the Gateway returns focused search results from more than 15 sites worldwide - including University World News and the Centre for Higher Education Transformation in South Africa - making it one of the most specialised resources of its kind.

PHILIPPINES: Trikes spread telecommunications
Five young Filipino graduates are building the country's first self-contained and wireless-enabled mobile telecentres using the national mode of transport - the three-wheeled motorcycle called a Trike.

FRANCE: Inter-university information service
Jane Marshall
Nearly 150 librarians from 14 Parisian university libraries have banded together to open Rue des facs, an online documentary information service for students and academics. They can send in questions - in French - and should receive a reply by email within three days.

Here Comes the Flood
How to handle the constant pileup of scholarly publications? Scott McLemee takes a look at two alternatives.

Half Empty or Half Full
New report attempts to gather key data on women in higher education -- students, faculty, administrators -- and to analyze key issues. In just about every category, study finds progress and disappointments.

Assessing Assessment
New center with backing from key education groups will compile data and case studies on evaluation of student learning. And new coalition plans to speak on higher ed's response to demands for accountability.

'I Am Less Patient and Dress Better'
Research project outlines the changes -- positive and negative -- experienced by faculty members who become administrators.


The language of competition
Continental business schools are spearheading the attempt to access the lucrative market for higher education in English. Matthew Reisz reports

Get wise to the product
'Knowledge for its own sake' is as narrowly utilitarian a remit for universities as the business-facing alternative, argues Gary Day

When it comes to the crunch...
The economic downturn is affecting most sectors in the UK, including higher education. But, writes Hannah Fearn, it is not necessarily all bad news

The support troops are getting flak
Social scientists deployed in war zones to engage with civilians and advise US military commanders are under fire from their peers, writes Jon Marcus

The queue's the thing
National Theatre-going regular Rivka Isaacson finds compelling drama in the early morning cast of characters waiting to buy day tickets

Happy to be here
Times Higher Education's annual Student Experience Survey highlights a host of institutions bent on making the university experience first rate in every way. Rebecca Attwood reports