The old saying that time is money is nowhere more true than in U.S. higher education. Time is measured two ways in academia--by the calendar and by the credit hour. Both can be costly, whether in the form of tuition, taxpayer subsidies, or the wages students lose with each additional term enrolled. For many years, in credit terms, the standard for…

This report is an edited version of the transcript of a seminar held to explore the problem of increasing costs and defining productivity in higher education. The main paper, by William Massey, presents a conceptual model explaining the forces driving up costs in academic departments of institutions of higher education. Under the model there have…

Educational economics and finance is a complex issue that the author has approached from three different areas: (1) a review of recent literature, (2) the state of the art of financing education, and (3) the state of research on the economics and financing of education. The author points to a revolution in education finance in Canada. The…