[simula67]

I thought "Tertiary education" includes undergrad : https://en.wikipedia.org/wiki/Tertiary_education

[ojbrien]

Here's the indicators that bloomberg uses for constructing the factor:

1. Gross tertiary enrollment ratio

2. Percentage of working-age population with advanced level of education

3. Annual new science and engineering graduates as a percentage total tertiary graduates

4. Annual new science and engineering graduates as a percentage of the labor force