The Costs of Further Education

The Costs of Further Education

A British Analysis

1st Edition - January 1, 1970

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  • Author: C. Selby Smith
  • eBook ISBN: 9781483160337

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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


    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


    (a) Average Financial Costs

    (b) The Allocation of Expenditure within Colleges


    Chapter 3 Marginal Financial Costs


    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


    The Estimation of Imputed Costs

    Implications of Considering Imputed Costs

    Results and Conclusions

    Appendix Facing

    Chapter 5 The Distribution of Total Cost



    National and Local Governments

    (a) Capital Expenditure

    (b) Current Expenditure

    Extra-district Pupils: The Recoupment System

    Advanced Further Education

    Overseas Students



    Chapter 6 The Discount Rate


    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


    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


    Chapter 8 The Relationship between Benefits and Costs for Various Courses


    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



    Chapter 9 In Conclusion


    The Present System of Finance

    An Alternative System of Finance

    Appendix: The Individual Behind the Category




Product details

  • No. of pages: 214
  • Language: English
  • Copyright: © Pergamon 1970
  • Published: January 1, 1970
  • Imprint: Pergamon
  • eBook ISBN: 9781483160337

About the Author

C. Selby Smith

About the Editor

Edmund King

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