Japanese Educational Reform

Paper Summary:

Modern Japan suffers from a mismatch between the needs of its economy and the skills of students produced by its education system. While Japan's economy boomed, employers feverishly recruited college graduates, especially those from prestigious universities, and new hires enjoyed the prospect of lifetime employment.

From the Paper:

"Modern Japan suffers from a mismatch between the needs of its economy and the skills of students produced by its education system. While Japan's economy boomed, employers feverishly recruited college graduates, especially those from prestigious universities, and new hires enjoyed the prospect of lifetime employment. Today, the bubble has burst on Japan's economy and recent college graduates find themselves scrambling for jobs in a labor market that is oversupplied. The six-year slump in Japan's economy means that companies can no longer spare the funds for training new workers. Consequently, managers express a need for college graduates who are not only well-versed in information technology, global markets, and modern finance, but creative self-starters as well. In response to this need, Japan's Ministry of Education has initiated sweeping reforms."

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