Economic Challenges in Higher Education
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The last two decades have been a turbulent period for American higher education, with profound demographic shifts, gyrating salaries, and marked changes in the economy. While enrollments rose about 50% in that period, sharp increases in tuition and fees at colleges and universities provoke accusations of inefficiency, even outright institutional greed and irresponsibility. As the 1990s progress, surpluses in the academic labor supply may give way to shortages in many fields, but will there be enough new Ph.D.'s to go around? Drawing on the authors' experience as economists and educators, this book offers an accessible analysis of three crucial economic issues: the growth and composition of undergraduate enrollments, the supply of faculty in the academic labor market, and the cost of operating colleges and universities. The study provides valuable insights for administrators and scholars of education. Booknews Drawing upon the authors' (Clotfelter, Ronald G. Ehrenberg, Malcolm Getz, and John J. Siegfried) experience as economists and educators, this book offers an accessible analysis of three economic issues that will greatly influence the future of all institutions of higher learning: the growth and composition of undergraduate enrollments, the supply of faculty in the academic labor market, and the skyrocketing cost of operating colleges and universities. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Acknowledgments Introduction Part I - Demand for Undergraduate Education Charles T. Clotfelter 1. Size and Significance 2. Patterns of Enrollment and Completion 3. Explaining the Demand 4. Financial Aid and Public Policy 5. Implications of Recent Enrollment Part II - Academic Labor Supply Ronald G. Ehrenberg 6. Projections of Shortages 7. A Stock Flow Model of Academic Labor Supply 8. Decisions to Undertake and Complete Doctoral Study and Choices of Sector of Employment 9. The Demographic Distribution of American Doctorates 10. Should Policies Be Pursued to Increase the Flow of New Doctorates? Part III - Costs and Productivity in American Colleges and Universities Malcolm Getz and John J. Siegfried 11. Cost Inflation 12. Where Does the Money Go? 13. Costs and Enrollment 14. Costs per Student over Time References Author Index Subject Index
