economic value of informal learning places
DESCRIPTION
Informal learning places like museums, galleries and science centres offer benefits that can be measured in economic terms. What are some issues in the field of economic measurement?TRANSCRIPT
The economic value of informal learning places
February 2009
[2] Informal learning – what value?
Informal learning
Informal learning goes on all the time outside formal institutions like schools, colleges and universities.
Humans learn language through informal learning at home. We also learn most of our cultural values in the heart of the family – the great engine room of informal learning.
Modern societies have evolved various places that foster informal learning.
Museum :: Gallery :: Arts Centre
Children’s Museum :: Library :: Zoo
Science Centre :: Botanic Gardens
[3] Informal learning – what value?
Get in early
Research shows the snowball effect of an early start because benefits keep accumulating over time.
Children who start school with good foundations will prosper, while those who are disadvantaged will struggle as they try to catch up or keep up. Or they give up altogether.
Economists and academics note that programs targeted at young children show the greatest return on investment because of the snowball effect.
Children’s museums are valuable community resources that help children catch up and keep up.
James J. Heckman and Dimitriy V. Masterov, The Productivity Argument for Investing in Young Children. T.W. Schultz Award Lecture at the Allied Social Sciences Association annual meeting, Chicago, January 5-7, 2007.
[4] Informal learning – what value?
Science is a challengefor adults too
Many parents have low knowledge levels about science and technology, and much of what they know is not up to date.
Our research into science education, conducted for the Australian Museum and Questacon, showed that many teachers valued science excursions for what they learnt themselves.
According to our research, many primary school teachers felt under-prepared to teach scientific concepts.
In particular, many lacked the confidence to present practical hands-on lessons. Many agreed that –
The outing is like professional development for me.
[5] Informal learning – what value?
For children AND adults
Children’s museums are a great resource for families and also for schools.
While children learn at the museum, the accompanying adults, including parents and teachers, are learning too.
Concerns have been raised about the standard of science teaching in primary schools. A children’s museum could provide a much-needed resource that supports classroom teaching.
[6] Informal learning – what value?
Knowledge economy
In a Knowledge Economy, informal learning institutions like children’s museums and libraries deliver strong economic value.
Funding agencies require good data for decision making. New economic tools have been developed to measure a wide range of social benefits. Cost Benefit Analysis and Contingent Valuation are now widely used.
More than 20 studies into the economic benefits of libraries have been carried out in the past seven years.
Studies for US and Australian libraries report returns on investment ranging from $2.50 to $6.50 for each dollar invested.
[7] Informal learning – what value?
Economic measures
Cost Benefit AnalysisCBA is an established method that is not only accepted by the Australian Government and Council of Australian Governments (COAG), but is required for regulatory proposals that will have significant impacts.
The Australian Government Department of Finance and Deregulation provides a range of CBA support materials including a Handbook of Cost‐Benefit Analysis (2006).
Contingent Valuation MethodCVM is a survey-based technique frequently used when valuing non-market resources in which use and non-use values can be estimated.
Respondents to survey questions are presented with a hypothetical scenario and are asked to state their willingness to pay in dollars for a change in amenity.
[8] Informal learning – what value?
Issues
Persuasive data
Base data gives ‘comfort’ that public money is not wasted, and that the service provides the same kinds of economic benefits as other services.
Powerful data gives impetus for support because of the particular values of the service.
Children’s museums offer unique services (information, education and healthy lifestyle) that are essential in modern economies.
System vs individual benefit
The Australian HECS-HELP system acknowledges that higher education benefits an individual by giving access to well-paid work. It also benefits the society as a whole by providing a pool of highly trained professionals.
Similarly, children’s museums benefit both individuals and the society they live in. Public funding could be justified because of the benefit to society as a whole.
[9] Informal learning – what value?
ContactGillian Savage
Environmetrics
Locked Bag 2116
North Sydney
NSW 2059
PH 02 9954 0455
www.environmetrics.com.au