ERIC Number: EJ854983
Record Type: Journal
Publication Date: 2005-Jul
Abstractor: As Provided
Reference Count: 9
Prudent Fiscal Stewardship: Estimating the Expected Monetary Value of an Educational Program
Rexeisen, Richard J.; Sathe, Richard S.
International Education Journal, v6 n3 p297-307 Jul 2005
Academic administrators are frequently asked to make difficult decisions related to resource allocation. Should a new academic program be approved? Should an old program be discontinued? How should resources be allocated between programs? Although resource allocation decisions are based on many factors, administrators must always consider the financial implications of their decisions. To that end, this paper illustrates one approach that administrators can use to estimate the expected monetary value of their educational programs. The paper begins by providing a brief overview of the relevant cost and revenue factors that are involved in resource allocation decisions. The paper then illustrates how a private, regional university used this approach to estimate the monetary value of an ongoing international education program. The paper concludes with a discussion of the managerial implications associated with making resource allocation decisions based on economic value.
Descriptors: International Education, Resource Allocation, Administrators, Evaluation, Higher Education, Undergraduate Students, Models, School Holding Power, Admission (School), Tuition, Budgets
Shannon Research Press. Available from: Australian and New Zealand Comparative and International Education Society. ANZCIES Secretariat, Curtin University, Box U1987, Perth, WA Australia. Tel: +61-8-9266-7106; Fax: +61-8-9266-3222; e-mail: firstname.lastname@example.org; Web site: http://www.iejcomparative.org
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Authoring Institution: N/A