The role of higher education to economic development

During the second half of the last century, the question of educational expansion attracted much attention and the debate revolved mostly around the evaluation of its socio-economic benefits and costs. Nowadays in the context of the European higher education policy, the knowledge economy discourse expressed in the EU Lisbon Agenda rendered higher education increasingly important for the development of nation's economies through their central tasks of generation, application and dissemination of knowledge and training high skilled labour force. [...].