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United States continues its recovery led by private demand and over the second half of last year the economy expanded at an annualised rate of just over 3 per cent.

The euro area has resumed growth, albeit in a somewhat hesitant fashion and with noticeable differences in performance by country.

A few emerging economies have lately come under pressure,

In fact were the Bank of Japan (BoJ) to step up its current program of quantitative and qualitative easing, it would soon be adding more cash to the global financial system, in absolute terms, than the Federal Reserve.

China's economy grew close to, and in fact a little faster than, the government's target last year. Strong and about equal contributions to growth were made by household consumption and investment. Consumer price inflation continues to be stable.

Recent indicators have shown possible signs of slower growth in the early part of 2014: growth of industrial production slowed; retail sales and passenger vehicle sales moderated; and fixed asse

Australia certainly weathered the financial crisis well, and with a real GDP some 13 per cent larger than it was at the beginning of 2009, compares well with many other advanced countries. It is the case, though, that growth while positive, has been running at a pace a bit below its trend pace for about 18 months now. The rate of unemployment has increased by something like a percentage point over the same period.

strong conditions in the natural resources sector.

n the rest of the economy, households have spent most of the past five years behaving more conservatively, or rather more normally, than they did over a long period up to the mid 2000s when they had been in a very expansive mood. Both consumption and residential construction have been soft for a while.

esources sector's capital spending continues to fall, it

It is unlikely, though, that a pick-up in resources exports, as important as that will be, will be enough to keep overall growth on the right trac

Recent data shows stronger household consumption over the summer. The latest surve

bundant signs of confidence in the housing market

Measures of business confidence have improved over the past six months. Businesses seem, so far, to be taking a cautious approach to investment,

is important to stress that this outlook is, obviously, a balance between the large negative force of declining mining investment and, working the other way, the likely pick up in some other areas of demand helped by very low interest rates, improved confidence and so on, as well as higher resource shipments. The lower exchange rate since last April and the improved economic conditions overseas also help.

On inflation, our view is that it will be a little higher than we thought three months ago

The American System helped to fuel the belief in the Manifest Destiny of the United States

The American System helped to fuel the belief in the Manifest Destiny of the United States

● Henry Clay's American System eventually ran out of steam during the administration of President Jackson

Failing is a part of the process and failing disrupts output based assessments. At the core of the maker philosophy is a process of ideation, iteration and emergence.

their Personal Passion Projects. Many of the projects fit neatly into the description of maker-centered learning. These are the projects where the students have identified a need and the solution is a product which they design and then prototype.

we'd like to see a number of things tried so we can have a good discussion that's informed by rational experiment and collected data. Beyond these individual experiments, one class at a time, I think it would be great to have one or two departments really try to integrate an online experience into their core curriculum so we can understand how that works, so we can provide students more options

Many of these first round of MOOCs were produced with a webcam by an individual instructor using a tablet PC. That's on the order of a thousand dollars worth of equipment. Maybe. Certainly, it's extremely inexpensive compared with a laptop 5 years ago. So the cost of the technology is lower. There's good software for editing video -- we're in an era where producing video is similar to word processing. And everyone is used to interacting with people online in different ways than were prevalent 10 to 15 years ago. The kind of discussion you can have online is more sophisticated. People understand social conventions for how to contribute constructively to an online discussion. Those factors really contribute to the effectiveness of a MOOC or a smaller scale online course.

I think we'll see an evolution of a range of different ways of using technology, and probably some expansion of the set of options that a student has. Instead of going off to college, maybe some students will live in their parents' homes or elsewhere and take a first year or two online. Or they'll spend two years in college and finish two years online as they work. There will be different, in effect, educational programs coming out of this phenomenon that offer credit, certification, job placement, and other things beyond the self learning that MOOCs provide. So I think we really are going to see a transformation in the way teaching and learning are developed and delivered

give state regulators a new option to either act as accreditors or create their own accreditation systems.

“States could accredit online courses, or hybrid models with elements on- and off-campus.”

regional accreditors are doing a fairly good job. They are under enormous pressure to keep “bad actors” at bay while also encouraging experimentation. And he said accreditors usually get it right.

Andrew Kelly, however, likes Lee’s idea. Kelly, who is director of the American Enterprise Institute’s Center on Higher Education Reform, said it would create a credible alternative to the existing accreditation system, which the bill would leave intact.

eliminating bureaucracy in higher education regulation is a top priority

“Accreditation could also be available to specialized programs, individual courses, apprenticeships, professional credentialing and even competency-based tests,”

broad, bipartisan agreement that federal aid policies have not kept pace with new approaches to higher education.

expansion of competency-based education. And he said the federal rules governing financial aid make it hard for colleges to go big with those programs.

accreditors is that they favor the status quo, in part because they are membership organizations of academics that essentially practice self-regulation.

changes to the existing accreditation system that might make it easier for competency-based and other emerging forms of online education to spread.

offering competency-based degrees through a process called direct assessment, which is completely de-coupled from the credit-hour standard.

“Scaling the Digital Divide,” published last month, looks at the arrival of broadband service in North Carolina between 2000 and 2005 and its effect on middle school test scores during that period. Students posted significantly lower math test scores after the first broadband service provider showed up in their neighborhood, and significantly lower reading scores as well when the number of broadband providers passed four.

The expansion of broadband service was associated with a pronounced drop in test scores for black students in both reading and math, but no effect on the math scores and little on the reading scores of other students.

THE one area where the students from lower-income families in the immersion program closed the gap with higher-income students was the same one identified in the Romanian study: computer skills.

How disappointing to read in the Texas study that “there was no evidence linking technology immersion with student self-directed learning or their general satisfaction with schoolwork.”