The market for training

This is the first of a new series designed to encourage informed discussion on essential issues in vocational education and training in Australia. This paper considers market forces and their effects on vocational education. The author looks at the current economic approach to vocational education and training (VET) policy, the elements of market-based policy, the politics and economics of training markets, issues in implementing the training market and strategic directions. He finds that there is an extensive market in vocational education and training and that market-based policy...  [+] Show more

This is the first of a new series designed to encourage informed discussion on essential issues in vocational education and training in Australia. This paper considers market forces and their effects on vocational education. The author looks at the current economic approach to vocational education and training (VET) policy, the elements of market-based policy, the politics and economics of training markets, issues in implementing the training market and strategic directions.

He finds that there is an extensive market in vocational education and training and that market-based policy initiatives are certain to increase. He asserts that there is a need for greater policy creativity in VET, in addition to policy initiatives related to the traini g market. A more complex and rewarding focus may be discussion of VET as an element of formal education in Australia and particularly the future integration of school, vocational and university education.