The Costs of Further Education - 1st Edition - ISBN: 9780080161631, 9781483160337

The Costs of Further Education

1st Edition

A British Analysis

Authors: C. Selby Smith
Editors: Edmund King
eBook ISBN: 9781483160337
Imprint: Pergamon
Published Date: 1st January 1970
Page Count: 214
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Description

The Costs of Further Education: A British Analysis offers a critique of the organization of further education in Britain, especially education provided in technical colleges. Emphasis is placed on how the resources allocated to education should be divided among various alternatives. This volume consists of nine chapters organized into three sections. After an overview of further education in Britain, the reader is introduced to the financial costs of providing education courses. The use of information on average costs to estimate marginal financial costs is discussed, along with the imputed costs of student time and the factors that affect the distribution of total cost between various groups. The chapters that follow focus on benefits and their relationship to costs for various courses, along with the principle for project selection. The method of obtaining the cross-section age-earning profiles is described. The concluding chapter includes a summary statement of the present situation and a suggestion for reform. This book is a valuable resource for educators, administrators, and policy planners involved or are interested in British further education.

Table of Contents


Preface

Courses Selected for Intensive Study

Chapter 1 Introduction

The Problem

Why Examine Further Education?

A General Perspective

A Few Warnings

Outline of the Book

Chapter 2 Financial Costs

Introduction

The Cost Data

Choosing the Courses

Choosing the Colleges

(a) The Regions Chosen

(b) The Colleges Chosen

The Method Used to Estimate Average Financial Costs

Results

(a) Average Financial Costs

(b) The Allocation of Expenditure within Colleges

Conclusion

Chapter 3 Marginal Financial Costs

Introduction

Is Efficiency Currently Maximized?

(a) The Use of Staff

(b) The Use of Buildings and Equipment

(c) Capital-Labor Substitution in the Teaching Process

(d) Consumable Materials

(e) The Type of Courses Provided

(f) The Geographical Location of Courses

(g) The Average Cost Curve

Calculations of Marginal Financial Cost

Chapter 4 The Imputed Cost of Student Time

Introduction

The Estimation of Imputed Costs

Implications of Considering Imputed Costs

Results and Conclusions

Appendix Facing

Chapter 5 The Distribution of Total Cost

Introduction

Students

National and Local Governments

(a) Capital Expenditure

(b) Current Expenditure

Extra-district Pupils: The Recoupment System

Advanced Further Education

Overseas Students

Industry

Conclusion

Chapter 6 The Discount Rate

Introduction

The Discounting Method

Size of the Discounting Factor: General Considerations

Treatment of Uncertainty

Size of the Discounting Factor: Evaluation

Project Selection

Chapter 7 Earnings and Adjustments

Introduction

The Method Used

Some Important Features of the Sample Adjustments

(a) Adjustments to the Cross-Section Data

(b) The a-Coefficient

(c) Future Changes in Earnings Differentials

The Accuracy of the Results

Conclusion

Chapter 8 The Relationship between Benefits and Costs for Various Courses

Introduction

The Relationship of Adjusted Earnings to Costs

(a) Comparisons at a Given Academic Level of Work

(b) Comparisons between Academic Levels of Work

(c) The Absolute Level of the Ratios

Other Benefits

(a) Investment Returns to the Rest of Society

(b) Investment Returns to Employers

(c) Consumption Returns

Conclusion

Appendix

Chapter 9 In Conclusion

Introduction

The Present System of Finance

An Alternative System of Finance

Appendix: The Individual Behind the Category

Glossary

Bibliography

Index


Details

No. of pages:
214
Language:
English
Copyright:
© Pergamon 1970
Published:
Imprint:
Pergamon
eBook ISBN:
9781483160337

About the Author

C. Selby Smith

About the Editor

Edmund King