If you're wondering how projects like the Michigan Student Caucus and Place Out Of Time are connected to skills employers are looking for in the real world (read: the global economy), check out this, excerpted from the New York Times today:

October 17, 2006
Skills Gap Hurts Technology Boom in India
By SOMINI SENGUPTA

TIRUCHENGODE, India — As its technology companies soar to the outsourcing skies, India is bumping up against an improbable challenge. In a country once regarded as a bottomless well of low-cost, ready-to-work, English-speaking engineers, a shortage looms.

India still produces plenty of engineers, nearly 400,000 a year at last count. But their competence has become the issue.

A study commissioned by a trade group, the National Association of Software and Service Companies, or Nasscom, found only one in four engineering graduates to be employable. The rest were deficient in the required technical skills, fluency in English or ability to work in a team or deliver basic oral presentations....

With the number of technology jobs expected to nearly double to 1.7 million in the next four years, companies are scrambling to find fresh engineering talent and to upgrade the schools that produce it....

This year, India’s largest software company, Tata Consultancy Services, plans to add 30,000 people to its current work force of 72,000. So it was that on a recent afternoon a four-man team from the company roamed the halls of a college founded by a local textile magnate in this small south Indian outpost.

The team came to Tiruchengode with the goals of selecting its next generation of software programmers and assessing how, in the short term, the company could help the college churn out more of what it needed. “These are the guys who are going to write my Windows 2010,” as one of the recruiters put it.

“We can’t afford to let talent go” was the verdict of A. K. Pattabiraman, a member of the team.

They grilled professors and administrators: How many faculty members have doctorates? Why did so many students have incompletes by the time they entered their fourth and final year? What software programs do they use for the class in mechatronics — a combination of mechanics, information technology and electronics?

They tested the students’ ability to reason and speak, tossing out debate topics, like democracy versus dictatorship, and science quiz questions, like what happens to an iron rod put in a beaker of nitric acid....