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Funding Formulae where Costs Legitimately Differ: The Case of Higher Education in England

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  • Geraint Johnes

Abstract

The institutional framework for the funding of higher education in the United Kingdom is discussed. In England, much of the financial support for teaching and learning, especially of 'home and European Union' undergraduates, is channelled through the Higher Education Funding Council for England (HEFCE). The HEFCE operates a formula funding mechanism, although in the wake of recent policy reforms—which include the introduction of differential tuition fees—this is likely to change. Some simple economic models of funding mechanisms that may be suitable for application in this context are constructed and evaluated. Implications for the design of future policies are discussed.

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File URL: http://www.tandfonline.com/10.1080/09645290701409749
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Education Economics.

Volume (Year): 15 (2007)
Issue (Month): 4 ()
Pages: 385-404

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Handle: RePEc:taf:edecon:v:15:y:2007:i:4:p:385-404

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Related research

Keywords: Funding; education;

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References

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  1. Philip Andrew Stevens, 2005. "A Stochastic Frontier Analysis of English and Welsh Universities," Education Economics, Taylor and Francis Journals, vol. 13(4), pages 355-374.
  2. G Johnes & Jill Johnes, 2005. "Higher education institutions' costs and efficiency: taking the decomposition a further step," Working Papers 574007, Lancaster University Management School, Economics Department.
  3. Izadi, Hooshang & Johnes, Geraint & Oskrochi, Reza & Crouchley, Robert, 2002. "Stochastic frontier estimation of a CES cost function: the case of higher education in Britain," Economics of Education Review, Elsevier, vol. 21(1), pages 63-71, February.
  4. Johnes, Geraint, 1997. "Costs and Industrial Structure in Contemporary British Higher Education," Economic Journal, Royal Economic Society, vol. 107(442), pages 727-37, May.
  5. Glass, J C & McKillop, Donal G & Hyndman, N, 1995. "Efficiency in the Provision of University Teaching and Research: An Empirical Analysis of UK Universities," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(1), pages 61-72, Jan.-Marc.
  6. de Groot, Hans & McMahon, Walter W & Volkwein, J Fredericks, 1991. "The Cost Structure of American Research Universities," The Review of Economics and Statistics, MIT Press, vol. 73(3), pages 424-31, August.
  7. Geraint Johnes, 1996. "Multi-product cost functions and the funding of tuition in UK universities," Applied Economics Letters, Taylor and Francis Journals, vol. 3(9), pages 557-561.
  8. Cohn, Elchanan & Rhine, Sherrie L W & Santos, Maria C, 1989. "Institutions of Higher Education as Multi-product Firms: Economies of Scale and Scope," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 284-90, May.
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Cited by:
  1. Beath, John & Poyago-Theotoky, Joanna & Ulph, David, 2011. "University funding systems: impact on research and teaching," Economics Discussion Papers 2011-1, Kiel Institute for the World Economy.

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