Macroeconomics and New Trends in Higher Education: An Empirical Study of Contemporary Chinese Practice

Abstract

The Cobb-Douglas production function and economic growth factor analysis proposed by Denison are combined to analyze China’s higher education composite index from 2009 to 2019. It deduces and calculates relevant data to measure the contribution rate of higher education to economic growth in China. Based on the international perspective, it analyzes the new trend of higher education development in developed countries and compares the differences in the development models of higher education among countries. With the help of the Arc GIS platform, it visualizes the regional differences in the investment in higher education and the regional economic development in China in 2019. The human capital theory and the economies of scale theory analyze the new demand for higher education in China’s macroeconomic development and propose strategies for its high-quality development.