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The Impact of Universities on Economic Development

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Universities as Engines of Economic Development

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Abstract

What is the impact of universities on sustainable economic development? How can it be improved?

University stakeholders understand the sizable contributions to societal and economic development made by universities, and they expect more.

Knowledge exchange with partners is the central feature of this expanded engagement. It takes place through the bi-directional movement of people, capabilities, and ideas across the porous boundary between partners and the university. The primary partners are industry, enterprise, and government organizations.

We propose a systematic approach to strengthen knowledge exchange. Our approach is pragmatic. It enlarges the role of the university’s core academic activities and their outcomes: education which prepares talented graduates; research which yields discoveries; and catalyzing innovation which produces creations.

To help a university implement this approach, we identify patterns of behavior we call practices. We describe eleven academic practices, each with a rationale and key actions.

Finally, we define a framework for an adaptable university, with supporting practices and a guide for change.

We acknowledge that here are many important contributions to society by participants at universities. Our focus is on the economic contribution by university programs in science, engineering, and entrepreneurship.

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Author information

Authors and Affiliations

  1. Massachusetts Institute of Technology, Cambridge, MA, USA

    Edward Crawley & Juan Cristobal Garcia Sanchez

  2. Trinity College Dublin, Dublin, Ireland

    John Hegarty

  3. KTH Royal Institute of Technology, Stockholm, Sweden

    Kristina Edström

Authors
  1. Edward Crawley
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  2. John Hegarty
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  3. Kristina Edström
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  4. Juan Cristobal Garcia Sanchez
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Crawley, E., Hegarty, J., Edström, K., Garcia Sanchez, J.C. (2020). The Impact of Universities on Economic Development. In: Universities as Engines of Economic Development. Springer, Cham. https://doi.org/10.1007/978-3-030-47549-9_1

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  • DOI: https://doi.org/10.1007/978-3-030-47549-9_1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-47548-2

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