Remote education vs traditional education based on effectiveness at the micro level and its connection to the level of development of macro-economic systems

Purpose The purpose of this paper is to verify the developed hypothesis on the basis of comparison of remote education and traditional education in terms of its effectiveness at the micro-level, as well as to determine the presence, degree and nature of correlation between the share of remote education and level of development of economic systems of separate states (macro-level). Design/methodology/approach The methodologies of this paper are based on the system approach and include methods of research investigation such as problem, logical, comparative analysis, synthesis and formalization, as well as a purposely designed author’s method of assessment of the effectiveness of remote education and traditional education. In addition to the specified methods, this methodology also includes the methods of correlation and regression analysis which are used by the authors to determine the presence and degree of correlation between the share of remote education and the state of macro-level economic systems. The authors have analyzed the correlation between the share of remote education in the higher education structure according to the summarized data of the ICEF Monitor and the existing studies and publications on this topic (y) with indicators of macro-level economic systems such as GDP, billions of dollars (x1); GDP per capita (x2); Education Index according to the United Nations Development Program (x3); Knowledge Economy Index according to The World Bank Group (x4); and the index of innovative development of socioeconomic systems according to INSEAD, WIPO and Cornell University (x5). The econometric analysis of the mentioned factors was performed after that. Findings The authors have come to conclusion that remote education is indeed much more effective at the micro-level, since it allows the students to receive similar educational services with greater convenience, a wider choice of higher educational institutions and at a lower cost compared to traditional education. At the same time, no negative influence of remote education on the macro-level economic system has been revealed; on the contrary, a positive, albeit slight, influence similar to traditional education has been found. For this reason, promotion of the formation and development of remote education is recommended instead of limitation, since it allows modernizing the educational system for the benefit of both supply and demand. Originality/value The research contributes to the development of the concept of socioeconomic development of economic systems through clarification of influence of remote education on it.