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Over the period of more than three centuries Austria and the United States have been following very different educational models which reflect as well as different outcomes in economic growth and unemployment rates. Economic growth can be measured in nominal terms, which include inflation, or in real terms, which are adjusted for inflation.Economic growth is usually associated with technological changes and large increases in economic growth in the United States occurred during the introduction of internet and computer technology. However, technological changes are not the only impact on the growth of a country. In the past year from 2009 to 2010, Austria has experienced real GDP growth rates of 2 percent while during the same time period the United States experience a 2.8 percent.
This senior project is organizes as following: in the first chapter I present the history and differences of the US and Austria educational models. In the second chapter I focus on a crucial difference between the two systems: their costs to students. In the third chapter I present an original analysis of the relationship between education and growth, unemployment.
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Dojcinivic, Nela, "Can Education reduce social inequality and improve employment?" (2011). Senior Projects Fall 2011. 5.