Relevant macroeconomic perspectives to improve investment planning and managing of resources in colleges and universities is discussed. Five sections are as follows: (1) simple relationships between expenditures and giving (simple costs and returns); (2) conceptual refinements: predisposition and capacity (effects of predisposition, effects of capacity, combined effects, and measuring costs and returns); (3) research estimating the costs of fund raising (estimated costs); (4) practical application: interpreting costs (capital investment and consumption, research about predisposition and capacity, the utility of gift revenues, non-incremental development alternatives); and (5) looking to the future (the role of institutional research). Several prerequisites for effective research about the development profession are suggested. At this time, internal research monitoring changes in average and marginal costs within individual institutions is the only realistic method for planning and managing effective performance. Tables and figures are included. Contains 10 references. (SM)