THE ECONOMICS OF HIGHER EDUCATION

The Economics of Higher Education Affordability & Access; Costing, Pricing & Accountability David Palfreyman David Palfreyman is the Bursar of and a Fellow of New College, Oxford, and the Director of the Oxford Centre for Higher Education Policy Studies (OxCHEPS) a ‘think-tank’ independent of both New College and the University of Oxford. He is the author, with Ted Tapper, of Oxford and the Decline of the Collegiate Tradition and editor, with David Warner, of Higher Education Management and of Higher Education Law, as well as being general co-editor of the Open University Pre s s / M c G r a w - H i l l fifteen volume Managing Universities and Colleges series. The author is grateful to the following: Ian Laing for his generous finan-cial support in the creation of OxCHEPS; Sir David Davies as the driving-force behind, and a major funder of, the ‘Costing, Funding and Sustaining Oxford’ research project; Nicholas Ulanov and Alexander Sherman as the consultants from The Ulanov Partnership working on that project; and the Institute of Higher Education, University of Georgia, Athens, USA, for financing a visit to the IHE in the Spring of 2003 which enabled much of the material for this book to be gathered. As always, the author remains thankful for his good fortune in working amongst such supportive col-leagues at New College, notably Alan Ryan as Warden and Kate Hunter as Bursar’s Secretary; and, in the context of writing a book on the financ-ing of universities in the twenty-first century, also offers appreciation to William of Wykeham, the Founder of New College in 1379, whose sub-stantial permanent endowment still some 625 years later provides crucial financial and academic independence for its Warden and Fellows in ful-filling the Founder’s eleemosynary intentions within the fertile, and indeed at times febrile, federal structure of the collegiate university that is modern Oxford. O x f o rd Centre for Higher Education Policy Studies The Economics of Higher Education Affordability & Access; Costing, Pricing & Accountability David Palfreyman, MA MBA LLB Bursar & Fellow, New College, Oxford Director, OxCHEPS OxCHEPS, Oxford, 2004 Oxford Centre for Higher Education Policy Studies (OxCHEPS), New College, Oxford, OX1 3BN, United Kingdom. http://oxcheps.new.ox.ac.uk/ Copyright © 2004 by David Palfreyman. Published by OxCHEPS. All rights reserved. ISBN 0 9547433 0 X Hardback ISBN 0 9547433 1 8 Paperback Printed by Lightening Source, Milton Keynes, United Kingdom. Typeset by Windrush Publishing Services, Gloucestershire. Cover design by Roger Locke, Witney, Oxon. iv CoNTENTS PREFACE 1 INTRODUCTION: Taxpayer Retreat 5 1. UK HIGHER EDUCATION: The 2003 White Paper 11 2. US HIGHER EDUCATION: Size and Shape 27 3. COSTING, PRICING & ACCOUNTABILITY 39 4. AFFORDABILITY 53 5. ACCESS 61 6. CONCLUSIONS 75 Appendices 1, ‘Chuck goes to College’ 85 2, ‘Pricing the Product’ 99 3, ‘Costing, Pricing and Sustaining Oxford’ 109 Index (by author of material cited) 115 Index (by subject covered) 117 v ... - tailieumienphi.vn