Online education has brought about significant changes in the educational landscape across the world. The major advantage that is provided through the use of online education is that it is effective and can provide education to students of all times from the comfort of their own home. However, the biggest advantages involved in the fact that it is a cost-effective method that is developed in such a manner so that it can provide support to students from different backgrounds. The start of online education has also led to the increasing demand for online courses to better support the education of the students. Initially there was a lot of confusion present regarding how to create an online course by businesses. The reason being that in most countries across the world, especially in developing countries the concept of online education was still very vague. and the businesses did not have complete knowledge or Idea regarding how to make an effective online course and support the educational attainment of the students. However, as the demand for online courses increased, the confusion regarding how to sell courses online also decreased significantly. The reason being there was a significant amount of foreign direct investment involved in the economy where several foreign companies started foraying in the educational sector especially in developing countries by providing a better understanding of this concept to the local companies or Institutions present in the economy. The demand for online courses increased based on the fact that this was easy to learn and could be completed within a finite period of time. For example, students can complete these courses within a period of 15 days to 3 months thereby making it effective for them and also enabling them to achieve better proficiency in the areas they intended to to learn.
It is important to outline that the demand for online courses had a significant impact on the economy as a whole. The reason being that these online courses lead to the development of a new market economy thereby providing better opportunities for both business houses as well as individuals who are working towards getting employment in the economy. It is important to understand that the start of the covid-19 pandemic had a significant negative impact on employment sectors across countries in the world. The reason being that due to the implementation of lock down it was impossible for companies to continue employing individuals as it was difficult for them to manage their cost. However, one of the several benefits that can be provided through the online education sector is that the employees can effectively manage the online education courses from the comfort of their own home in the form of work from home initiative. Keeping this aspect in mind it was soon found that There was a significant increase in employment in the economy thereby leading to an increase in supply of money. each of the aspects thereby had a positive impact on the gross domestic product of the economy. It is important to outline that the sudden start of covid-19 pandemic had a significant impact mostly on the negative side thereby leading to increasing negative issues in the economy. However, through the online courses and its increasing demand in the economy it was soon possible for developing countries Especially to effectively manage their employment sector and thereby provide better support to its citizens. Hence, it can be stated that the implementation of online education in the economy has had a positive impact on its growth.
The role of government in supporting online education
It is important to highlight that the government can play a significant role in supporting the online education economy by providing it with subsidies and other incentives that will promote the development of this economy. The support from the government will also ensure that the students are being provided with a better learning environment that will add to the strength and enable them to become more creative and innovative. Considering all this aspect it can be stated that the involvement of the government will have a positive impact on the economy as a whole.