The Economics of Higher Education

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Abstract
Over the last ten years, economists dealing with higher education have shifted their emphasis from the study of "rates of return" and optimum size of the social investment in education to the analysis of its distribution among different social groups. In the process, they have re-examined the role of education in determining positions in the labor hierarchy and have come to question some of their earlier measures of the eco nomic productivity of higher education. Their studies of dis tribution have brought them close to areas traditionally culti vated by sociologists. Their primary contribution, however, is in the comparison of alternative modes of financing higher education with reference to stated objectives of equity or equal opportunities.

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