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A Shared‐Cost‐Profit Model of Teaching Materials for Higher Education

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  • Melanie Banfield

Abstract

In this article, I assess the cost‐value crisis facing institutions of higher education; as the cost of higher education grows, students grow increasingly skeptical of the value of their degrees. The COVID‐19 pandemic has accelerated this crisis as institutions across the country have been forced to move to a fully or partially online model of instruction. In an effort to reduce costs, institutions have increased the number of low‐paid, part‐time adjunct faculty teaching introductory courses and have promoted the use of free and open online educational resources (OER). Both solutions lack sustainability and do little to solve the “value” question of higher education. I demonstrate how a shared‐cost‐profit model could address both issues of sustainability and value.

Suggested Citation

  • Melanie Banfield, 2021. "A Shared‐Cost‐Profit Model of Teaching Materials for Higher Education," American Journal of Economics and Sociology, Wiley Blackwell, vol. 80(1), pages 231-252, January.
    • Handle: RePEc:bla:ajecsc:v:80:y:2021:i:1:p:231-252
    DOI: 10.1111/ajes.12374
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    References listed on IDEAS

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    1. Claudia Goldin & Lawrence F. Katz, 1999. "The Shaping of Higher Education: The Formative Years in the United States, 1890 to 1940," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 37-62, Winter.
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