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ERIC Number: ED363258
Record Type: Non-Journal
Publication Date: 1993
Pages: 5
Abstractor: N/A
Reference Count: N/A
Price Indexes for Institutions of Higher Education.
Cohen, Michael P.
The need for a system of price indexes for colleges and universities is discussed. First, past efforts to develop price indexes are reviewed, dating back to 1952 and highlighting two specific indexes, the Higher Education Price Index (HEPI) and the Uniform Price Index Calculation System (UPICS). For the latter, the price indexes of direct costs for 1973, 1978, and 1983 are charted by the following categories: (1) institution type (doctoral, baccalaureate, comprehensive, 2-year, all), (2) function (instruction, research, public service, academic support, student service, institutional support, plant operation and maintenance), and (3) object (academic staff, other staff, fringe benefits, services, supplies and materials, books and printing, equipment, occupancy and maintenance). The UPICS indexes are then compared to three other frequently-used indexes. Average annual rate of inflation is also included. The formula used to calculate these indexes is then explained. Finally, the use of other price indexes, not specifically designed for higher education, is discussed. It is concluded that higher education needs its own indexes to reflect the complexity of functions and objects of expense. (MSE)
Publication Type: Reports - Evaluative; Opinion Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A