The Student as a Utility Maximizer

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Abstract
Allen C. Kelley once again applies economic analysis to the educational process in this paper which presents a model “in which the student is viewed as a utility maximizer making choices at the margin between allocating his time among the course in question, all other courses, and leisure….” The model is supported by the results of a classroom experiment in which two alternative “production techniques” were employed. One consisted of the traditional classroom format, the other involved student use of sets of lecture notes. Among the variables included in the regression analysis are performance on the TUCE, ACT-SAT scores, high school standing, major field, sex, student's college level (sophomore or upperclassman), and percentage of sections attended. Conclusions are drawn about the efficiency of the experimental approach.

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