Part 2: Economic predictions for 2023 – All you need to know about Recession

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Welcome back readers. Continuing about the economic predictions for 2023, let’s understand what recession is, its cause and effects on global economy. 

What is a Recession and How Does It Affect the Economy?

A recession is a period of economic decline characterized by a contraction in economic activity. It is typically measured by a decline in Gross Domestic Product (GDP) over two consecutive quarters. Recessions can have significant and far-reaching effects on the economy and can lead to high levels of unemployment, reduced consumer spending, and a decrease in business profits.

The COVID-19 pandemic led to a global economic recession in 2020, with the International Monetary Fund (IMF) estimating that the world economy contracted by 3.5% that year. The pandemic also led to widespread job losses and business closures, with many countries implementing lockdowns and social distancing measures to slow the spread of the virus.

What causes a recession?

Recessions are often caused by a variety of factors such as a decline in consumer confidence, a decrease in business investment, or a financial crisis. During a recession, businesses tend to cut back on spending, which can lead to job losses, reduced salaries, and a decrease in overall economic activity.

Fiscal and Monetary Policy Measures: Since last year, Banks have aggressively raised interest rates to bring inflation under control. This would cool the consumer demand as borrowing becomes expensive, resulting in less spending and slower price growth. 

The global economy is projected to grow by 4% in 2021, following a contraction of 4.3% in 2020. Photo credit: Canva.com


Global GDP Growth: According to the World Bank, the global economy is projected to grow by 4% in 2021, following a contraction of 4.3% in 2020. However, the recovery is expected to be uneven across countries and sectors, with some countries and industries experiencing a slower recovery than others.

Unemployment Rates: Unemployment rates have increased in many countries as a result of the pandemic and recession. In the United States, for example, the unemployment rate rose from 3.5% in February 2020 to 14.8% in April 2020 before declining to 6.7% in December 2020. As of January 2022, the U.S. unemployment rate was 4.2%.

Inflation: Inflation has been a concern for many countries as the global economy recovers from the pandemic. In the United States, inflation has risen to its highest level in over 30 years, with the consumer price index (CPI) rising by 7% in December 2021 compared to the previous year. The Federal Reserve has responded by raising interest rates and tightening monetary policy.

How Can We Prepare for a Recession?

While it is difficult to predict when a recession will occur, there are steps that individuals and businesses can take to prepare for an economic downturn. Here are some strategies to consider:

Build up savings: Having a cushion of savings can help individuals and businesses weather a recession. Aim to save at least 3-6 months’ worth of expenses or revenue.


Reduce debt: Reducing debt can help individuals and businesses manage their finances during a recession. Consider paying off high-interest debt and reducing expenses.

Diversify investments: Diversifying investments can help minimize the impact of a recession on your portfolio. Consider investing in a mix of stocks, bonds, and other asset classes.

Focus on cash flow: During a recession, cash flow is key. For businesses, focus on improving collections and managing inventory. For individuals, consider taking on extra work or selling unused assets to generate extra income.

Stay informed: Stay up to date on the latest economic news and trends. This can help you make informed decisions about your finances and investments.

In conclusion, recessions can be challenging and have far-reaching effects on the economy. However, with careful planning and preparation, individuals and businesses can minimize the impact of a recession on their finances and even use it as an opportunity for growth and innovation.

Effect of recession

The effects of a recession can be particularly severe for certain groups of people, such as those in lower-income brackets, as they may be more vulnerable to job loss and reduced access to credit. Recessions can also lead to a decrease in public services, as governments may need to cut back on spending to manage their budgets.

Global economic activities are affected heavily by geopolitical trends. The world economic forum suggests that amongst major factors resulting in slow down of business activity in 2023 are weak consumer demand and high cost of borrowing. This downturn would result in cutting business operational expenses and optimizing supply chains.

Photo credit: World Economic Forum

Correlation of Recession to Inflation:

The relationship between recession and inflation is complex and can vary depending on the specific economic conditions at play. In general, however, recessions and inflation are often seen as opposite sides of the same coin, with recessions tending to put downward pressure on inflation and expansions tending to put upward pressure on inflation.

During a recession, economic activity slows down, which can lead to lower demand for goods and services. As a result, businesses may lower their prices to stimulate demand and stay competitive, leading to lower inflation or even deflation. In addition, high levels of unemployment during a recession can reduce workers’ bargaining power, leading to lower wages and less pressure on employers to increase prices.

On the other hand, during an economic expansion, increased demand for goods and services can lead to higher prices and inflation. This can be exacerbated if there are supply constraints, such as a shortage of workers or raw materials, which can drive up prices further.

During an economic expansion, increased demand for goods and services can lead to higher prices and inflation. Photo credit: Canva.com


It’s important to note that the relationship between recession and inflation can be influenced by a range of factors, including government policies, international trade, and changes in commodity prices. In addition, there can be lags between changes in economic activity and changes in inflation, as businesses may take time to adjust their prices and workers may negotiate wage increases on an annual basis.

Overall, while there is no direct causal relationship between recession and inflation, the two are often intertwined in complex ways, and policymakers must consider both factors when making decisions about monetary and fiscal policy.

Can recession be avoided?

Recessions are a natural part of the economic cycle, and it is difficult to completely avoid them. However, there are some steps that can be taken to reduce the likelihood and severity of recessions:

Fiscal Policy: Governments can use fiscal policy to stabilize the economy. During times of economic growth, governments can save money, pay down debt, and build up reserves, so they have more resources to use during a recession. During a recession, governments can use fiscal stimulus measures such as tax cuts, infrastructure spending, and transfer payments to help boost demand and support the economy.

Monetary Policy: Central banks can use monetary policy to stabilize the economy. During a recession, central banks can lower interest rates and increase the money supply to encourage spending and investment. During periods of high inflation, central banks can raise interest rates and tighten monetary policy to cool down the economy and reduce inflationary pressures.

Structural Reforms: Governments can implement structural reforms that make the economy more efficient and more resistant to shocks. For example, reforms that increase competition, reduce regulation, and promote innovation can help the economy adapt to changes in the global marketplace.

International Cooperation: International cooperation can help reduce the likelihood and severity of recessions. For example, countries can work together to reduce trade barriers, coordinate their fiscal and monetary policies, and share best practices for economic management.

It is important to note that while these steps can help reduce the likelihood and severity of recessions, they cannot eliminate them. Recessions are a natural part of the economic cycle, and they can be caused by a variety of factors, including natural disasters, geopolitical events, and changes in consumer behavior. However, by implementing sound economic policies and promoting international cooperation, governments and central banks can help create a more stable and resilient global economy.

On a brighter note, recessions can also lead to opportunities for economic growth and innovation. For example, during the Great Recession of 2008, the rise of new technologies and increased competition led to the growth of the gig economy and other forms of flexible work. Similarly, many businesses have used recessions as an opportunity to restructure and streamline their operations, leading to increased efficiency and profitability.

Share your thoughts about recession in comments below.

What are the economic predictions for 2023?

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The last few years have been like a foggy, fading memory, from the Covid-19 pandemic to the US Capitol attack in 2021 to Russia’s invasion of Ukraine in 2022. Who would have thought about these events’ disastrous effects on our lives?

Advent of Covid-19 in 2019 impacts our lives even 3 years later. Photo credit: Canva.com

And with not much relief from the dire repercussions of the last three years, the impact of these events on our lives continues in 2023 as well.

What does this mean for the world economy?

I am not an economist. I work and run a family. But I understand simple economic terms and their co-relationships. I can do the math when I see increasing grocery bills, and my household income remains unchanged. I feel the pinch on my wallet, and I know I cannot afford to indulge in any ‘extra’ luxuries anymore as I have bills to pay and ends to meet.

In layperson’s terms, the 2023 economy can be described as a chain reaction of the following events:

Spiked inflation levels – Raised interest rates – Fall of GDP/economic growth – Fear of spreading recession

Interest rates are increasing due to high inflation. Photo credit: Canva.com

Let’s understand what inflation is.

Inflation is a measure of the rate at which the general level of prices for goods and services rises, and purchasing power falls. Various factors, including economic growth, interest rate changes, and supply and demand shifts, can cause inflation.

Common causes of inflation

  1. Economic growth: There is an increased circulation of money as a country’s economy grows and expands. This increased money supply can increase prices as businesses raise prices to take advantage of the extra demand. Additionally, wages tend to rise as the economy grows, which can contribute to higher prices.
  2. Changes in interest rates: When interest rates are low, it is cheaper for businesses and individuals to borrow money, which can increase spending. This increased spending can cause prices to rise as companies raise prices to take advantage of the extra demand. On the other hand, borrowing becomes more expensive when interest rates are high, leading to decreased spending and lower prices. 
  3. Shifts in supply and demand: When demand for goods and services is high, businesses may raise prices to take advantage of the extra demand. Conversely, companies may lower their prices to attract customers when demand is low. Additionally, when the supply of goods and services is low, prices may rise due to the limited availability of goods and services. On the other hand, when the supply is high, prices may decrease as businesses try to attract customers.
  4. Natural disasters, wars, and government policies: Natural disasters can lead to higher prices for goods and services as businesses struggle to keep up with the extra demand. Government policies, such as printing money or increasing taxes, can also lead to inflation. Wars can cause inflation as governments increase spending to fund the war effort.

    Understanding the causes of inflation is essential to manage its effects on the economy better.
Shifts in demand and supply causes inflation. Photo credit: Canva.com

Types of Inflation

  1. Cost-push inflation: This occurs when production costs increase, leading to higher prices for goods and services. For example, if the cost of raw materials or labour increases, businesses may pass on those costs to consumers through higher prices. This can also happen due to increases in taxes, tariffs, and regulations.
  2. Monetary inflation: This occurs when there is an increase in the money supply, which can lead to higher prices as more money chases the same amount of goods and services. This can happen if a central bank, such as the Federal Reserve, increases the money supply through monetary policy.
  3. Expectations of inflation: Inflation can also occur if people expect prices to rise. This can happen if they think that the economy is growing too quickly, interest rates will increase, or due to any other reason. If people expect prices to rise, they may start to spend more money now, which can lead to actual inflation.
  4. Imported inflation: This can happen when a country experiences inflation due to the increased prices of imported goods. For example, if the value of the country’s currency decreases, imported goods will become more expensive, leading to higher consumer prices.
  5. Foreign inflation: This refers to the inflation that occurs in a country due to inflation in other countries. For example, if a country’s main trading partners experience inflation, it may increase the prices of imported goods and services, which in turn can cause inflation in the country.

How inflation can be controlled

Changes in Monetary policy can help curb inflation. Photo credit: Canva.com
  1. Monetary policy: Central banks, such as the Federal Reserve in the United States or the European Central Bank, can control inflation by manipulating interest rates. When interest rates are high, borrowing becomes more expensive, decreasing spending and lowering prices. On the other hand, borrowing becomes cheaper when interest rates are low, leading to increased spending and higher prices. Central banks can also use other monetary policy tools, such as open market operations, to control inflation.
  2. Fiscal policy: Governments can also control inflation by using fiscal policy, which includes government spending and taxation. For example, if the government increases taxes, it can decrease spending, which can help reduce inflation. On the other hand, if the government increases spending, it can increase demand for goods and services, which can cause prices to rise.
  3. Supply-side policies: Governments can also use supply-side policies to control inflation. For example, suppose the government reduces regulations and taxes. In that case, it can make it easier for businesses to produce goods and services, increasing the supply of goods and services and helping to keep prices low.
  4. Incomes policies: Governments can also control inflation by using income policies, which aim to control wage and price increases. For example, the government can impose wage and price controls, which can help to keep prices low. 
  5. International coordination: Inflation can also be controlled through international coordination. For example, if a country’s trading partners are experiencing high inflation, it can increase the prices of imported goods and services, which in turn can cause inflation in the country. In such cases, governments can coordinate with other countries to stabilize prices.

Inflation can have various economic effects, such as reducing purchasing power, making exports less competitive, and increasing the risk of recession. Central banks and government try to balance stable prices and economic growth. It’s essential to understand the causes of inflation to create policies that can mitigate its adverse effects and maintain economic stability.

Inflation can lead to recession. Photo credit: Canva.com


Controlling inflation is not always easy and can have negative consequences, such as reducing economic growth, increasing unemployment, and creating imbalances in the economy. Therefore, central banks and governments usually aim to balance stable prices and economic development and use different tools and policies to achieve that balance.

It seems like inflation is here to stay in 2023 for most of us from a global perspective, as the underlying problem of imbalances in the supply chain persists. And world leaders have thought of reducing overall economic activity as the answer to the inflation problem. And as the ripple effect stems from reduced spending, a recession is soon knocking on our doors. Watch this space as I discuss the recession in next week’s blog.

#DILO (A day in the life of) a master’s student at RKC – Vernon W

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Here’s presenting another gem of our #dilo -a day in the life of RKC student series. We asked some of our past and current students to share their thoughts and opinions and give feedback on how they handled the challenges of online learning.

There is no better way to learn from those who came before and see if what worked for them will help you become a better student! Hopefully, this will help you to make an informed decision.

An Introduction

Who are you, really?

I am an entrepreneur in charge of a couple of SMEs in the Caribbean. I had to delay embarking on the ‘MBA journey’ as for many years I would work up to 16 hours/day. But alas, MBA was always one of by 2020 ‘Things to do’ so I embarked on the journey mainly because of this reason. A plan must be executed.

Which programme did you choose and why?

MBA Leadership & Sustainability.

The Study Plan

How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?

Prior to MBA, I read widely on many subject areas, so that helped me while studying. Unfortunately, notwithstanding all my good plans at the beginning of each module, most times I would get started late. In reality, I must run two companies first – then study. I try to put in 3 hours, 3 times per week. Sometimes I get in as much as a full day – usually because I was behind and had to catch up.

What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)  

I study better at quiet times such as evenings and weekends would work best for me. This means I have to spend a lot of time planning ahead to reduce competing personal and business priorities. Most of the time when I settle down to study, I made sure I have little or no distractions.

How much time did you devote to each assignment?  

Usually, I use less than the recommended time. If the recommended time for preparation is say, 2 weeks, I have to get it done in half the time. This means reading all the recommended material and external material. As I said, I really try to read widely.

Photo credit: Canva.com

Travelling and Communication  

How did travelling impact your ability to study?  

Little or none at all. Prior to MBA I advised my associates that I did not wish to travel much until MBA is completed and so far so good. I do not do a lot of local travelling.

How were you able to interact with peers and/or professors given the time differences?  

For my business, I use a suitable app communicate with multiple people in different time zones. I simply added Zurich to the list. Not much trouble there and the time stamp on the study portal helps.

A typical day as a master’s student  

What does a typical day as an Online Masters’ student look like for you?  

A full day of work and then some studies. Some days I get in up to say 1 hour during the work day (his happens say once or twice weekly). During this time, I participate in the learning forum. The forum is a healthy place to learn other perspectives so I go back to read other students’ posts whenever I miss them. These are very important – similar to being in a physical class room.

At the end of the day, I try to put in more time before heading home, and if unsuccessful, try to make up before heading off to sleep.

Photo credit: Canva.com

Any advice?  

Any advice you have for students to better plan their studies.  

Yes. I do not think I am a poster student for giving advice to students on this topic as I am working daily to improve my own scheduling. I think my present mode is at about 70% and based on grades thus far it is clear to me that all I have to do is get some more time in. Students (and myself) could:

1. Schedule time away from work as is required. In the end, an MBA is an investment and ‘time’ is money.

2. If possible, have discourse (outside of the forum) with someone on the subject area – including via video conferencing. Great if its another student. This is also good for long-term collaboration and networking.

3. If you were pursuing MBA in a physical lecture setting, travel time, traffic and other factors would have ensured more time is spend pursuing MBA – even if some are wasted on transportation. So, while studying online result in less CO2, be careful it does not necessarily also result in less time studying.

Enjoy the benefits of this mode of study, but remember, its an investment of time and money and the returns can make a big difference in your life (and your family’s).

I hope this blog has answered some of your questions, and please watch this place for similar blogs. So, if you have been thinking about doing a master’s degree and now understand how to study better for an online programme, look at our programmes and see if anything interests you.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, the application process, and answers to any questions you may have.

Newest programmes by Robert Kennedy College (RKC) – All you need to know about Bachelor’s in Business Administration

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A bachelor’s programme is a stepping stone in the field of specialisation in which one wants to build their career. Bachelor’s degree is a degree awarded by a college or university in the subject of choice upon completion of undergraduate studies.

A bachelor’s degree enables you to gain advanced knowledge of the subject, learn new ideas, enhance employability skills, boost earning potential and provide networking opportunities. Obtaining a bachelor’s is usually the first step towards achieving a higher academic degree like a master’s or doctorate.

 A bachelor’s degree is usually the first step towards achieving a higher academic degree

While a bachelor’s degree can be pursued soon after finishing high school, it has become increasingly common for people to undertake a programme later in life as well.

Traditionally one had to go to a university to study bachelor’s degree. But in the modern context, earning a bachelor’s degree online has become much easier.

RKC has pioneered business and legal education online for over 24 years, allowing thousands of professionals from every continent to achieve new heights in their lives and careers. Today you can benefit from our latest bachelor’s in business administration programmes.

Robert Kennedy College offers the following two bachelors programme in business administration:

  1. Diploma in Business administration
  2. BA (Hons) Business Administration

Diploma in Business Administration

The diploma programme offers fundamental knowledge and understanding of business administration and management. This programme is suitable for someone looking to advance their career in any industry, equipped with advanced business intellect to help improve businesses and their operations.

Five reasons to study Diploma in Business Administration:

  1. The Diploma is delivered in partnership with the University of Cumbria, rated in the top 10 in the UK for developing business leaders and ranks 14th overall in the Top 50 universities for business.
  2. The course can be studied entirely online to graduate in just nine months. 
  3. Enhance your employability with strong problem-solving aptitude, practical business knowledge and skills and applied leadership.
  4. No traditional examination system, but one learns through real-life case studies, essays and assignments.
  5. Gain entry to the next step in your career: study Bachelor’s BA (Hons) in Business Administration.
 The course can be studied entirely online to graduate in just nine months

The programme consists of the following six Level 5 modules. Each module is worth 20 credits:

Organisational Behaviour

Services Marketing

Culture and International Business Systems

Corporate Social Responsibility in Practice

Global Economics 

Operations Management

BA (Hons) in Business Administration

BA (Hons) in Business Administration is a bachelor’s degree programme offered by the University of Cumbria, UK, ranked 8th in the world (Times higher education impact rankings). The programme is provided exclusively to the RKC’s diploma graduates who have gained a solid foundational knowledge of business subjects.

University of Cumbria, UK

The programme is delivered online and can be completed in as little as 12 months.

The bachelor’s programme consists of four modules. The Level 6 modules total 120 credits, including a 40 credits independent business project:

Business Psychology (20 credits)

International Marketing (20 credits)

Global Business (20 credits)

International Human Resource Management (20 credits)

Business Independent Project (40 credits)

Upon successful completion, an internationally recognised British Honours degree is awarded by the University of Cumbria.

 Upon successful completion, an internationally recognised British Honours degree is awarded by the University of Cumbria.

The bachelor’s programme serves as a solid base to launch and spearhead a career in business. Apply online today and become part of a professional network of business students. Chat live on WhatsApp with our education advisors to learn more about the admission procedure, eligibility requirements, fee structure, payment plan and upcoming intakes.

All you need to know about Robert Kennedy College

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The first thing anyone interested in enrolling for higher education in a college or University does is to check its legitimacy. And no surprises here, this is one of the top questions our education advisors get asked all the time – Tell me more about the college and partnership with British universities. 

So, here is everything you need to know about RKC!

Number one of Number one: Who are we? An Introduction

Robert Kennedy College is a private educational institution based in Zürich, Switzerland. The College is a pioneer in Swiss quality online education offering rigorous but flexible learning programmes, through enhanced state of the art online e-learning technology that has been developed in-house entirely.

Exclusive Partnerships

The Robert Kennedy College online master’s and bachelor’s programmes are offered in an exclusive partnership with the University of Cumbria, the University of Salford, and York St John University

Student focused teaching

RKC’s online learning community greatly values and invests in each of its student. Here you get an opportunity to be a part of a prestigious international community of over 5000 students from 130 different countries and some world-class faculty. Chat with our education advisor to get your customized study plan.

World-class faculty

As a student at RKC, you will learn from some of best professors in the education field. 

RKC’s dean Dr. iur. David Costa is one of the founders of Robert Kennedy College. In his current capacity as Dean of Faculty, he oversees the faculty review process and several of the college’s academic programmes. He lectures at Robert Kennedy College in Contracts Law, Transnational Business Law, Investment Law and Money Management, and is a frequent guest on business TV channels such as CNBC Europe and Bloomberg Television. 

Our instructors are graduates from some of the best universities worldwide. Other key faculty members are Prof. David Duffil, Dr. Radu Negoescu, Dr. Alistair Benson and, Emeritus Prof. Gabriel Jacobs.

Unique course plan with one-week residency

Our programmes combine best of both worlds by offering Swiss quality education online via OnlineCampus with one-week residencies. The one-week residency represents a unique opportunity for students to work in groups, focus on case studies and get a head start for their dissertation. Residency offers a great opportunity to interact with fellow students and professors and learn from professional experiences of students from all over the world. Chat with our education advisor to get your customized study plan. 

Worldwide recognition

One of the best advantages of studying master’s at RKC is that at the end of the programme, an internationally recognised full-time British degree is awarded by the University. 

The University of Cumbria, University of Salford and York St John University are fully recognised by the British Government and duly listed on the United Kingdom’s Department for Education list of recognised UK awarding institutions. You can verify their official University status directly at the UK Government Website.

Flexible payment plans

At RKC we understand the importance of work-study-life balance. This is why we offer flexible payment plan where you can pay fees in interest free instalments. Check out the sample payment plan here.

With the above information, RKC ticks all boxes from the ideal online programme institution list. Go ahead and download our course catalogue and start your application online now.

Be Merry this Holiday Season

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The most beautiful time of the year is here! It’s merry and bright with the town’s festivities, decorations, hustle, and bustle. It is almost the end of the year, and everyone wants to enjoy some time off, relax, take break from studies and work, and spend time with their families, friends, neighbours, and colleagues. Seems like all jovial and merry time to me! However, are holidays always like that?

Photo Credit: Canva.com

Well, the demands of the holiday season – shopping, cooking elaborate festive menus with exotic dishes (thanks to social media..), baking, cleaning, entertaining, and making the season its festive best (and the list is exhaustive…phew!) – can prove to be an overwhelming time.

One of my friends told me she was planning to bake 12 cakes, one for each of her neighbours with whom she is a good friend. Her husband suggested buying cakes instead, but she wanted to give a personal touch to her gift. Wow! I am sure after baking 12 cakes, she has become a professional baker. On top of this, she had a “Secret Santa” gift exchange at work, and her kids had to do a gift exchange at their school. Well, online shopping helped her save a lot of time, but one can never wholly escape visiting the stores physically. 

Photo credit: Canva.com

I experience the same mixed feelings of excitement and pressure around festive times. While I love decorating my house, I get stressed about getting the best colour-coordinated decorations and, of course, not to mention matching Holiday sweaters for all my family. I love entertaining my friends and family at my house, but the whole process of planning, preparation and execution exhaust me.

It is advised not to get carried away with anxiety about holiday preparations. It is better to prioritise what is essential for you, keeping in view the traditions. 

Photo credit: Canva.com

Here are some helpful tips you can follow to keep stress at bay and enjoy the festivities:

  1. Plan ahead – Start your preparations in advance to stay ahead in the game. Plan, prepare and stock food for cooking and baking, and start shopping weeks in advance to avoid the last-minute rush. You will be better able to enjoy time with family and friends.
  2. Ask for help – Please know that you are not in this alone. Other family members, friends and colleagues would love to give a helping hand, assist you with getting groceries, driving around, wrapping presents, or decorating.
  3. Be organized – The key to stress-free holidays is to be super-organized. Make lists of tasks and set reminders to keep you on track.
  4. Set holiday budget – I know we are still reeling under the effect of Covid-19, and inflation is at an all-time high. We all want to make the season as festive as possible, don’t we? Under these trying times, set strict financial budgets for holiday shopping and stick to them. Think of innovative ideas to save some $$ like buying when discounts are on, buying collective gifts, organising potluck instead of doing all cooking etc.
  5. Don’t forget to breathe and exercise – Take a deep breath whenever you feel overwhelmed. With all the merry drinks and sugary cakes you will be eating, exercising will help keep those extra calories at bay. Also, exercising is relaxing and boosts new energy.
Photo credit: Canva.com

There is a lot of cultural pressure around the holidays, especially now that social media forces us to compare ourselves with the idealised notions of the holidays. I would suggest, earmark a day and some of your budget, to volunteer at a food bank, volunteer a day at a retirement home taking gifts for the elderly, or donate to a charity. Knowing that you brought smile to someone’s face and made a difference in their lives, will immensely lift your spirit (holiday spirit)! Be mindful and emphatic towards those who are struggling this holiday season.

Ultimately, it is all about sharing, giving, loving, and spending time with our loved ones – the essence of the holiday season. 

On this note, I wish all our readers Happy Holidays! Be merry, and do not worry 🙂

Advance your career with a master’s degree in the modern job market. Here are FIVE reasons you should study for a master’s in 2023!

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Today’s job market is highly competitive and challenging. To prove your metal, one has to exhibit why you outshine in the crowd of thousands of job applicants. Higher education has increasingly become necessary for anyone seeking career advancement. And in today’s dynamic environment, just a bachelor’s degree may not suffice to get the top jobs. A master’s degree in your specialization will help expand your knowledge base and experience required to make your next career move or get the promotion.

Photo credit: Unsplash.com

The benefit of a master’s degree to you in 2023

Everyone has their reasons to pursue a master’s programme. Here are some popular ones:

1. Shield against recession and job cuts

Once you equip yourself with master’s degree knowledge and skills, you level yourself above the rest of the employees. The employer will choose the employees who are better qualified and experienced should the situation of job cuts arises. One can better their chances of sustaining their jobs and ensure job security by creating value for the company.

One can better their chances of sustaining their jobs and ensure job security by creating value for the company.

2. Building a vast professional network

While studying for a master’s, one of the benefits is that you get to interact with like-minded professionals. One gets to know people from different cultures, intellects, and business acumen from across the world. The connections you make are made from the standpoint of mutual learning and growth, which usually are impossible to make at the workplace due to competition and professional jealousy. These connections last forever. 

3. Potential of earning a higher salary package

Depending on your field – a master’s degree usually means the potential of earning a higher compensation package. Being a master’s degree graduate, you can negotiate your pay package on your terms. Employers recognise the value you bring to the table and are willing to offer compensation dollars ($$) accordingly.

4. Better probability of promotions

Having a master’s degree betters your chances for that promotion at work by raising your bar to the top candidates running in the competition. So, if you are aware of any arising opportunity for promotions at your workplace in 2023, start your application for a master’s degree now.

5. Advanced knowledge

You maybe are the head of the department running the show for the company in sales, finance, supply chain, marketing, commercial law or artificial intelligence. One feels the need for new ideas to run a business efficiently and increase profitability by implementing new/better business processes. Beyond a point, one needs to learn management and leadership skills to be a better manager and effective leader. Such knowledge can be acquired by furthering your horizon with a master’s degree.

I can extend another reason for you to start a master’s programme in 2023 with the special fee promotion. You can now join a master’s programme with a deposit of just 500 CHF. Also, benefit from discounts up to 2,100 CHF. You can connect with our education advisors on WhatsApp for a live chat to learn about the application process for intakes starting in January 2023.

What is your reason for starting a master’s in 2023? Share in the comment section below, and get started with the next steps now!

Education Leadership – It’s all about learning

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Education serves as the foundation block of human society. It is a dynamic process, and education can be received from a variety of institutions all over the world. Education has seen numerous changes through the centuries and is an ever-evolving field constantly facing new challenges. Educational institutions aim at providing structured learning to develop knowledge and skills along with the holistic balance for overall growth, enabling the individual to lead a successful life. Various institutions operate to provide age-appropriate education to kids and adults.

Who is an education leader?

A leader in education is one that other educators look up to for guidance, direction, and example. An educational leader serves as a guide in an organizational setting. They operate either as sole leaders or as a team of education administrators. An education leader plays a pivotal role in determining the reputation and climate of the school. Learning communities function and thrive under the direction and vision of their leader.

What common traits make a successful (and influential) leader?

Unlike management leaders, the challenges that education leaders face are unique and diverse. There is no other industry with such constant learning as the education industry.

“Leadership is the capacity to translate vision into reality”

Education leader creates opportunities, supports processes and empowers educators. Here are some of the typical traits found in an inspirational, educational leader:

  1. An education leader is a lifelong learner
  2. An innovator, has vision and is a planner
  3. Expert in utilizing data and resources
  4. Leads by example
  5. They create collaborative, inclusive learning environments
  6. High emotional quotient and critical decision maker
  7. Has a positive and can-do attitude
  8. Excellent communicator and problem solver
  9. Empowers educators and promotes the development of leadership skills 
  10. Pivotal in community building and transpiring the values, philosophy, and ethos of the educational institution through the community

The list above is not exhaustive. 21st-century leaders operate in complex environments and are expected to be active facilitators of change.

“Change is an opportunity to do something amazing”

Education leaders must possess an in-depth understanding and knowledge of the communities’ learning requirements. In a heavily media-saturated society, the dynamism and rapidly changing education requirements are unpredictable. Still, education leaders are responsible for preparing learners for the future. Effective leaders tend to develop learning strategies focusing on the future while analyzing current education trends.

What leadership models are valid in education?

While various leadership models are adapted from the business world to the educational, theories and models regarding the role and function of education leaders have been reformed and remodelled to echo the change over time.

Here are a few of the leadership models applicable to the education sector:

Transactional leadership

Transactional leadership centres around rewards and punishments and these are made very clear from the beginning with straightforward job descriptions and expectations. The leader allocates work, and the subordinate is solely responsible for it.

Transformational leadership

This form of leadership allows dreams to take shape. A transformational leader develops a vision and implements it while taking care of their employees and giving them ample opportunity to succeed.

Servant Leadership

The servant leader puts the interest and needs of others first. The leader would share power, delegate, improve, and work for the benefit of the less privileged.

Laissez-faire Leadership

This leader’s involvement in decision-making is minimal because they allow people to make their own decisions. For this leadership style to be successful, the employees must have integrity and be self-driven.

Take a look at our list of 100% online master’s degree programmes and see if we have anything you are interested in doing.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and details on discounts we might be offering at this time.

#DILO (A day in the life of) a RKC’s master’s student

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As a former Education advisor, if I had to pick one of the most frequently asked questions by prospective students, it would be “How many hours do I need to study?”  

The vast majority (if not all) of our students are working and leading hectic professional lives. Some are motivated and have already decided to undertake a master’s, while others contemplate the unknowns of an online programme. In my experience, two things affect their decision the most.   

First – finances, and second, being able to strike the perfect work, study, and life balance. While I cannot completely help you with the finances (partially yes – check out the discount offers currently being offered on our online MBA, MSc, and LL.M programmes), I thought what I could do to help was to bring some facts to light about the other unknowns – what does a typical day in the life of an online master’s student look like?  

Today, we’re looking at overview of one of RKC’s student typical day who is taking MBA Learsership and Management, offered in exclusive partnership with York St. John University.

An Introduction  

Which programme did you choose and why?  

I am studying MBA Leadership and Management. I chose it because I am a finance professional but work with the Operations unit which oversees the running of the office. And leadership and Management skills are required be able to manage people.

The Study Plan   

How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?  

The course is conducted online. I mostly study on weekends and sometimes week days in the office when everyone has left. I usually listen to lectures and make my own notes from them. In total, I put in more than 10 hours a week, as I also have to do research and listen to the videos over and over, alongwith reading relevant text books.

 What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)  

On weekends I would study early mornings and also late evenings. On weekdays, I preferred studying late evenings after work in the office when everyone would leave. I usually stay back for at least 2 hours.

In total, I put in more than 10 hours a week

How much time did you devote for each assignment?  

Quite some time you need to do proper research and also understand your subject matter for you to be able to get a pass mark. So I had to drop out some social commitments and devote more time to my studies.

Travelling and Communication  

Did you travel for work? How did travelling impact your ability to study?  

I am studying online so travelling did not impact me.

How were you able to interact with peers and/or professors given the time differences?  

There was a module that required a group interaction and my fellow students lived in two different time zones. But we were able to agree on a time that we could meet. Time differences did not affect my interaction with my professors as they always responded to me in time and they could be reached whenever need be.

A typical day as a master’s student  

What does a typical day as an Online Masters’ student look like for you?  

A typical day for me starts early at about 5:30am on weekends with me going to our OnlineCampus listening to videos and reading the online materials. On week days it also starts at 5:30am and getting ready for work. I usually work till 6:00pm and after I finish, would study for 2 hours, sometimes more in the office.

Any advice?  

 Any advice you have for students to better plan their studies.  

The best advice I can give to students is

1. Find a time in the day for up to 2 hours that you can concentrate on just your studies

2. Reduce social activities especially if you are working and studying at the same time

3. Try to ask a lot of questions to your professor if you don’t understand the instructions given for an assignment. I had to retake a module because I misunderstood the instruction.

4. Find a fellow student within the course you are doing, with who you can discuss few topics for better understanding.

5. Learn to submit assignment 2-3 days before the deadline. You might get unexpected internet challenge uploading your assignment at the last minute and miss the deadline by few minutes which will make you get a capped mark.

 

Guochang used reading tools, as Acrobat for reading, Zotero for note…

All right, so this was a sneak peek of a typical day in  life as a master’s student. I hope you find it insightful and informative and that it gives you an idea of what to expect when you enrol for our master’s programmes. Watch this space as we have many more interesting insights always! 

FIVE signs that you are ready for master’s studies

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Sometimes we do not know what we want in life. How do we change our plans into actions to develop our careers? When is the best time to enrol for a master’s programme?

As it is said, opportunity knocks only once. And when opportunity knocks on your door, always be willing to take a chance. You never know how perfect something could be or when the next opportunity will arise.

Sometimes instead of waiting, you have to create the right opportunity for yourself. One should look for the universe’s signs pointing to any arising opportunities.

One such opportunity is receiving higher education. Studying for a master’s can be a life-changing event and sometimes even the best decision one can make. While it may sound great and exciting, studying for a master’s requires a unique kind of resilience, commitment, dedication, and drive to complete the programme. Time-sensitive assignments, group discussions, researching, dissertation submission – your strengths will be tested on many levels.

Photo credit: Pexels.com

Whether a fresh undergrad or a seasoned professional, the decision to start a master’s is always excruciating. But here are five signs that you are ready to take the leap:

Stagnation in current career/job role

Working in the same role and doing the same job every day becomes mundane. Self-motivated people feel less challenged at work, and their level of job satisfaction declines drastically. Studying for a master’s brings new focus and challenge to an otherwise dull routine.

You have clear goals 

You always wanted to obtain a prestigious master’s degree and add another feather to your hat. Some people plan and define their career path in an early stage of their life, knowing exactly when they will start working, when they will study for their master’s, get married and even when they will have a baby.

You are ready and keen for the academic challenge

Despite busy work and home schedules, you are an avid reader and keep yourself abreast of the latest happenings worldwide. You have been actively researching the field you want to study for your master’s, reading textbooks, and reaching out to current students and alums to understand the academic challenge a master’s programme poses.

You want to network with like-minded people

One of the benefits that most master’s students look forward to is growing their professional network. Students from all over the world, with varying professional experiences, from different cultures come together to study for a master’s degree. Peer relationships formed during the master’s programme over group discussions, or forum chats, usually last a lifetime! This brings an opportunity to create a truly enriching academic experience.

You are ready for the time investment

Sometimes people keep the idea of studying for a master’s at bay simply because of time constraints. Job, family, and social commitment abstain you from committing yourself to the study environment. When you are focused on developing yourself academically and have set aside time, it is the right time to enrol for a master’s programme.

So, in summary, a desire to learn more, earn more and advance more could be your sign to enrol for a master’s programme today.

If you feel this is the right time for you to do a master’s degree, then look at our list of 100% online master’s degree programmes and see if we have anything you are interested in doing.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and details on discounts we might be offering at this time.

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