What outcomes do societies seek from universities, and who should pay for these outcomes? Intergenerational knowledge transfer, basic research, innovation in science and technology, professional education, social equity, international competitiveness, economic development – universities in industrialized countries aim to achieve a wide range of objectives, usually supported by substantial public funding. However, even as the new powers of China India and Brazil increase their governments’ investments in higher education, cash-strapped western countries are rethinking their subsidies to the sector. In fact, recently in the United Kingdom, national-government funding of universities has been severely reduced. At the same time, however, there are trends promoting closer relationships among universities and the communities and regions in which they are based. Some stakeholders argue that, through deeper local partnerships with the private sector, the state and civil society, universities can demonstrate greater value to society in helping to create jobs, advance equity and protect the environment.
Source: From syllabus below downloaded from http://carleton.ca/sppa/academics/course-information/2014-winter-course-outlines/ (accessed 8 January 2014)