Economists have a field day at the latest research paper on the economics of engineering, and their findings are surprisingly varied.
Some of the most fascinating is the finding that the UK has the worst engineering, engineering economics and engineering management outcomes in the world.
Economists at University College London published a paper last week showing that engineering and engineering economics graduates had higher than average rates of self-employment, absenteeism and absenteeism-related health problems.
They also performed worse in university employment, according to the report.
In a separate report, the London School of Economics, University of Oxford and Cambridge Business School found that the British economy as a whole fared worst.
The UK also performed poorly in other key areas of engineering research.
The UK ranked 22nd in the OECD’s quality index for engineering engineering, below Germany, the Netherlands, Canada and Sweden.
“Our research finds that Britain’s ranking is particularly bad in a number of key areas,” said Richard Golledge, the lead author of the study.
According to the OECD, a quality index is a measure of a country’s overall performance in a particular area.
That includes how well a country performs in research and development and in innovation and entrepreneurship, among other things.
The OECD has been tracking countries since 1993.
This is the second report from the same research group, after another one published in February, which found that in the United States, there was a negative correlation between engineering graduates and economic productivity.
But the new research finds a positive correlation.
In contrast, the UK performed poorly on several other measures, such as self-employed, absenteeist and absenteeist-related problems.
It also found that a strong correlation existed between performance on measures of absenteeism, absenteeists-related productivity and performance in university.
And the UK was also among the worst performers in other areas of research and business, such a for research productivity and for research performance in research innovation and business processes.
In the UK, there is a significant drop in the share of engineering graduates who complete a post-graduate degree, with only 12 per cent of engineering students completing their post-graduation degree, compared to 22 per cent in the US, the OECD study found.
Overall, the report found that graduates of engineering and science-related fields performed worse than those who were born into working-class backgrounds.
The report said that graduates who did well on the skills test tended to have lower skills in engineering and business than those with lower qualifications.
More from the Economic Times:Britain ranks worst in the Organisation for Economic Co-operation and Development (OECD) rankings for engineering, economy and economy managementSource: Reuters