Quality Education Systems as A Fundamental Prerequisite for Competitiveness in The European Context

Abstract

In this paper, it is examined the competitiveness of the European Union in comparison of the rest of the world with the highlight on the quality of the education systems. In addition, it has been also investigated what are the main reasons for European Union has been struggling with the lower grow rates in comparison to the other region. A key determinant, among others, that influences the competitiveness of the European economy are higher education institutions and education systems, which must necessarily follow the processes of globalization, digitalization and demographic trends in this area. In this paper it has been reveal a several main challenges for higher institutions has to face in order to be leaders of competitiveness at the European Union level. Among other factors higher institution have to strategically redefine the approach to education to focus on creating skills that will be relevant in the future and reduce the current shortage of certain skills. Higher education institution should make education systems more adaptable and responsive to changes in the needs of the job markets. In addition to that they should commercial innovative cutting the edge research making them attractive for the market.  International accreditations in the field of economics and business economics are one of the possibilities of harmonizing and standardizing the education process improving the quality of higher educational processes.