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Educational Degree Design: The Economic Rationales

Author

Listed:
  • Stefan Winter
  • Melissa Kistner
  • Deborah Maffia
  • Robin Maximilian Matz
  • Elka Thevanesan

Abstract

Within the economics of education, degrees are treated as given empirical phenomena. There are neither scientific definitions of degrees nor theories of degree design. So far, the economics of degrees are not well understood. This paper aims to improve this understanding. It suggests that especially the economics of information, the real options approach of investment theory, agency as well as transaction cost theories can help to understand the design features of degrees, their inner complexities, and their hierarchical embeddedness. A deeper understanding of the rationales behind degrees allows for new approaches to optimize degrees.

Suggested Citation

  • Stefan Winter & Melissa Kistner & Deborah Maffia & Robin Maximilian Matz & Elka Thevanesan, 2024. "Educational Degree Design: The Economic Rationales," International Journal of Higher Education, Sciedu Press, vol. 13(6), pages 1-62, December.
    • Handle: RePEc:jfr:ijhe11:v:13:y:2024:i:6:p:62
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    References listed on IDEAS

    as
    1. Claude Henry, 1974. "Option Values in the Economics of Irreplaceable Assets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 89-104.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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