Proceedings of the 1981 University of Arizona conference on responses to fiscal stress in higher education are presented. Topics include the impact of the federal government on higher education, state and institutional responses to new federal policies, developing responses to fiscal stress, alternate perspectives on fiscal stress, and tactical responses to fiscal stress. Papers and authors include the following: "Reagan Administration Policy Statement on Higher Education Finance" (Gary Jones); "State Responses to New Federal Policies" (Clyde R. Ingle); "Institutional Responses to New Federal Policies" (E. W. Doty); "The SUNY-Albany Experience" (Robert C. Shirley); "The Concept of Short-Run Decision Making" (Lyman A. Glenny); "The Idaho Experience" (David L. McKinney); "Responses to Fiscal Stress: Contrasting Higher Education and the Private Sector" (Kim S. Cameron); "On the Uses of Adversity in Higher Education" (Aaron Wildavsky); "A Changing Environment for Students and Families" (Melvin D. Orwig and Robert J. Rustad); "Capital Renewal in the 1980's: A State Perspective" (Brenda N. Albright); "Campus Renewal in the 1980's: The New Voyage of the Beagle" (Clinton N. Hewitt); "Tuition Pricing Policies and Their Effect on Institutions: Revenues, Students and Mission" (William Hyde); "Legal and Political Aspects of Program Closure" (Stephen R. Hample); "Coping with the Dynamic Duo of the 1980's" (Joseph Cox); "Retrenchment: Faculty and Staff Policies" (C. Keith Groty); and "Financing Community College Missions in an Era of Scarce Resources" (Richard C. Richardson, Jr.). Abstracts of related research papers, including practitioners' and researchers' award papers by Stephen Campbell, Frederick M. Biedenweg and Robert E. Hutson, and Raymond L. Siren, are included. (SW)