ERIC Number: EJ1123280
Record Type: Journal
Publication Date: 2017
Abstractor: As Provided
Testing the Limits of the Price Elasticity of Potential Students at Colleges and Universities: Has the Increased Direct Cost to the Student Begun to Drive down Higher Education Enrolment?
Fincher, Mark; Katsinas, Stephen
Journal of Higher Education Policy and Management, v39 n1 p31-39 2017
Higher education enrolment has long been known to rise and fall counter to the current economic situation. This counter-cyclical enrolment response represents an economic principle where a price-elastic consumer is more likely make a consumption choice when another valuable use of resources is not available. Higher unemployment has historically led to increased enrolment as fewer prospective students have had attractive employment opportunities as an alternative use of the resource of time. This consumer decision was possible students generally had the ability to pay the cost. This trend has now ended as enrolment is no longer rising with increased unemployment. This indicates that ability of many students to pay has now been exceeded by the cost of tuition and other fees.
Descriptors: College Students, Costs, Student Costs, Cost Indexes, Educational Demand, Educational Supply, Consumer Economics, Employment Projections, Employment Potential, Enrollment Trends, Labor Market, Statistical Analysis, Multiple Regression Analysis
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A
Grant or Contract Numbers: N/A