Erasmus+ is the new EU program for education, training, youth, and sports from 2014-2020. It combines several previous programs into a single integrated program to have a greater impact. The program aims to address issues like youth unemployment, skills gaps, and the need for international cooperation in education. It received a 40% budget increase to support international higher education through activities like Erasmus Mundus joint master's degrees, scholarships for students and staff from EU and partner countries, and capacity building projects.

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Erasmus+: The EU Programme for Education, Training, Youth and Sport Erasmus+ Information Day on the International Dimension for Higher Education London 8 December 2014

2. Erasmus+: Why a New Approach?
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Deep economic crisis and high youth unemployment
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Vacancies exist, but skills gaps and low employability of graduates
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Growing requirement for high skilled jobs
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A global competition for talent: internationalisation of education
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Extraordinary broadening of learning offer and potential of ICT
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Complementarity between formal, informal and non-formal learning
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Need for closer links with world of work
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3. EU Policy Context Closer links between the programme and policy-objectives: 1) Europe 2020 targets : raising higher education attainment from 32% to 40% 2) 2013: 'European higher education in the world' strategy
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Enhancing the overall quality of European education by facilitating peer learning, cooperation and comparison with other education providers worldwide;
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Boosting innovation and job-creation in Europe by attracting internationally mobile students and skilled migrants;
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Broadening horizons, increasing employability and preparing students to become global citizens;
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Influencing and engaging new audiences in a way that advances the EU's position in the world.
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4. What’s New? A single integrated programme
•A single integrated programme covering all education, training and youth sectors in a holistic manner and adding sport
•Bringing 7 existing programmes into a single coherent framework to achieve greater systemic impact Substantial simplifications
•Fewer Calls for proposal & large reduction in number of Actions
•More user-friendly programme, easier to navigate
•Simplified financial management: greater use of unit costs A substantial budget increase
•40% increase, benefiting all sectors
•Additional funding from external action instruments to support international dimension of higher education
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5. Facts & Figures on the International Dimension
Almost EUR 16.5 billion will cover the programme as a whole for the
period 2014-2020. More than 17% of this will be dedicated to the four
international components of the programme.
This budget will fund the following key results in international
cooperation:
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350 new Erasmus Mundus Joint Master Degrees
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30 000 scholarships for Joint Master Degree students and staff
(minimum 75% for individuals from Partner Countries)
•130 000 credit mobility scholarships for individuals to move between higher education institutions in Partner Countries and Programme Countries
•1 000 capacity-building projects for higher education
•2 000 Jean Monnet projects

6. From Old to New