This report summarizes the highlights of a national survey of college and university faculty that was conducted by the Higher Education Research Institute (HERI) in fall and winter of 2001-2001. This is the fifth in a series of surveys conducted on a triennial basis. Results are based on the responses of 32,840 full-time college and university faculty members at 358 two-year colleges, four-year colleges, and universities nationwide. Data are reported separately for men and women and for 12 different institutional groupings stratified for institutional control (public, private, nonsectarian, Catholic, and Protestant) and type (university, four-year college, and two-year college). An overview summarizes findings on: (1) background characteristics; (2) faculty perspectives on undergraduate education at the start of a new millennium; (3) increased use of student-centered instructional and evaluation methods; (4) continued gains in faculty support for tenure; (5) increased focus on student diversity issues; (6) shifting institutional priorities; (7) value placed on social concerns and status attainment; and (8) work satisfaction and stress. The bulk of the document consists of six tables of normative data for the survey. Four appendixes contain a discussion of the research methodology, the survey instrument, a discussion of data precision, and a description of participants in the surveys. (SLD)