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A Cost Function for Higher Education in Australia

Author

Listed:
  • John Creedy

    (Department of Economics, The University of Melbourne)

  • David Johnson

    (Melbourne Institute of Applied Economic and Social Research, The University of Melbourne)

  • Ma. Rebecca Valenzuela

    (Department of Economics, Monash University)

Abstract

This study estimates a cost function for higher education in Australian universities using pooled series of cross-sectional data. The study enabled the quantification of the cost differences between levels of studies and subject areas. The cost function is useful in an number of ways. It can be used by universities to evaluate the effect of changes in course structure and size on university budgets. It may also be used by universities to help develop pricing policy for courses for fee paying courses. In this paper it was used to derive estimates of the overall cost of providing higher education to overseas students.

Suggested Citation

  • John Creedy & David Johnson & Ma. Rebecca Valenzuela, 2002. "A Cost Function for Higher Education in Australia," Melbourne Institute Working Paper Series wp2002n11, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    • Handle: RePEc:iae:iaewps:wp2002n11
    as

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    File URL: http://melbourneinstitute.unimelb.edu.au/downloads/working_paper_series/wp2002n11.pdf
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    References listed on IDEAS

    as
    1. Throsby, C D, 1986. "Cost Functions for Australian Universities," Australian Economic Papers, Wiley Blackwell, vol. 25(47), pages 175-192, December.
    2. Lloyd, P J, 1994. "A Multiple-Output Cost Function for Australian Universities," Australian Economic Papers, Wiley Blackwell, vol. 33(63), pages 200-214, December.
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    Cited by:

    1. Gerd Grözinger, 2003. "Die Finanzsituation norddeutscher Universitäten: ökonomische und politische Schlussfolgerungen auf der Basis eines Ausstattungsvergleichs," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 72(2), pages 271-288.

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    More about this item

    JEL classification:

    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • D20 - Microeconomics - - Production and Organizations - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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