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September 09, 2020

Why is it wise to take higher studies now during economic crisis?

Education is perceived as a solution to rebuilding the economy. It is the key to a country’s competitiveness in a global economy. Countries that have more highly skilled professionals fare better in the tech-based knowledge economies not only of today but of the future. The result of indulging into educational programs now will lead to a more highly skilled workforce at the end of the current crisis.

Even though predictions are uncertain in the current times, India is expected to overcome Covid-19 impacts faster due to self-reliance and will likely emerge from this impending economic crisis in a much stronger position than before.

shutterstock_1780041632-1The economy will progress with progression on the academic front

This is the best time for you to opt for further studies. The market will stabilize by the time you graduate in 2022-2023, and you would have acquired the desired competence by then. The demand for skilled and qualified professionals will also bloom. This would be a silver lining around the dark clouds currently facing the higher education sector and, indeed, the entire nation. 

The lockdown and rising public anxiety about the virus led to a sharp deterioration in economic activity in India. After a deep contraction in the April - June quarter, we expect the economy to rebound mechanically in the second quarter. 

Our quarterly estimates show that real GDP would contract by 4.4% in FY 21. Several high-frequency economic indicators are displaying sequential improvement which has likely set in a sense of complacency among market participants. What we are currently witnessing appears to be a tug of war between improving economic data and still escalating virus situation. Therefore, having more educational skills can protect you against the economic chill winds and can prove to be a primary driver of progress. 

Currently, we are in Quarter 2 (July- September) indicating a tepid recovery. Therefore, pent up demand, favourable base effects, and massive policy support in advanced economies driving the global recovery could lift India’s economy in 2021-22.

Why pursue higher studies?

Just because educational institutions have shut down, doesn’t have to necessarily mean that education should be put to a halt. Rather, this is the best time for you to invest in education, while you have been trying to indulge in activities to be productive. By taking admission to educational programs, you will still be able to chase your dreams and fulfil them. The time you now are finding hard to pass will fly in no time and this will bring with it a lot of upliftment in your professional and personal life. 

The real estate and built environment sectors are likely to emerge from this economic turmoil faster than other sectors. Organisations setting up workplaces in India will bring huge demand for office space and other auxiliary needs like housing, malls etc. 

The current respite in the economy can end up being a surprisingly positive development as it gives the ideal time and right chance to seek after higher education and be fit to be set exactly when the economy is gazing upward. 

This is the right time for young graduates, civil engineers and architects to upskill themselves by pursuing post-graduate courses like an MBA in Real Estate and Urban Infrastructure, Construction Economics and Quantity Surveying, Construction Project Management or Facilities Management from institutes that have an international accreditation in these programmes.

Why Choose RICS School of Built Environment:

RICS School of Built Environment (RICS SBE), Amity University is an industry-led academic institution which delivers specialized undergraduate and postgraduate programs to students ambitious to work in real estate, construction and infrastructure sector. It also aids as a hub for research and development of technical proficiency in the built environment. RICS SBE only institute in India that offers PMI GAC accredited programme.

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