Seven in 10 teachers believe science education in their country is unfit for the future, according to a global report published by Oxford University Press.
Teachers voiced their concern that curriculums were failing children by not preparing them to navigate challenges such as climate change and the evolving role of technology.
“The scientific challenges of the past year with the pandemic and the ever-growing signs of climate change mean that there has never been a more important time to focus on science, empowering pupils to thrive in a changing world,” said Andreas Schleicher, the most senior education official at the Organisation for Economic Co-operation and Development.
Researchers polled 398 teachers in 22 countries and regions for the study, called Evolution of Science Education. Some respondents were in the UAE, although most were in India or the UK.
We wanted to start a global conversation about how we enable learners to benefit from the lessons of the past 15 months
Dave Leach,
Oxford University Press
Educators said children should be allowed to experiment and encouraged to engage while studying the underpinning scientific concepts.
They requested a rebalancing of exams, away from the current focus on knowledge, towards assessing the application of science.
Teachers said that to remain relevant, science lessons should focus on practical skills, and that a greater connection should be made between the science being taught and what was happening in the world.
Covid-19 changed science teaching in the past year, particularly by restricting practical experimentation in the classroom.
But 42 per cent of teachers surveyed said the pandemic had not changed the focus of science education.
Of those polled, a quarter said climate change was the biggest challenge in the future of science education.
To ensure science education evolves and remains relevant in the future, teachers said, there should be a greater focus on climate change, tackling fake news and adapting more quickly to technological and societal change.
Dave Leach, global assessment director, Oxford University Press said, “When we were first appointed as the developer of the Pisa 2025 science framework [with the OECD] in late 2019 we could never have predicted the chaos that the pandemic would bring.
“We wanted to elevate the voices of those teachers, to start a global conversation about how we enable learners to benefit from the lessons of the past 15 months, how we equip them for the challenges that lie ahead of us.”
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Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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