Final answer:
The demand for high-skilled workers in Botswana has increased due to the explosion of new technologies and globalization. A university education has a signaling effect that indicates an individual's skills and abilities to employers.
Step-by-step explanation:
The demand for high-skilled workers has increased in Botswana over the past three decades due to various factors. One major factor is the explosion of new information and communications technologies, which has greatly benefited high-skilled workers such as top business managers, consultants, and design professionals. These technologies have also facilitated globalization and increased international trade, creating more opportunities for high-skilled workers to sell their services globally.
The signaling effect of a university education is the idea that obtaining a university degree serves as a signal to employers that an individual possesses certain skills and abilities. It demonstrates that the individual has successfully completed a rigorous academic program and has acquired the knowledge and critical thinking skills necessary for high-skilled jobs. This increases the perceived value of the individual in the job market and can lead to higher demand and wages for university-educated workers.