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Evaluating the Short- and Long-run Economic Impacts of the Virginia-Maryland Regional College of Veterinary Medicine

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  • Liu, Binzhang
  • Kshirsagar, Shukla
  • Johnson, Thomas
  • Thatcher, Craig
  • Norton, George W.

Abstract

Colleges of veterinary medicine are often asked to provide evidence of the economic impacts of their activities. This paper presents methods for evaluating a veterinary college and applies them to the Virginia-Maryland Regional College of Veterinary Medicine. It assesses short-run impacts on income and employment using input-output analysis. Long-run benefits are estimated using a combination of economic surplus analysis, travel cost analysis and demand estimation, animal-owner willingness-to-pay based on a survey of practicing veterinarians, and earnings differentials.

Suggested Citation

  • Liu, Binzhang & Kshirsagar, Shukla & Johnson, Thomas & Thatcher, Craig & Norton, George W., 2001. "Evaluating the Short- and Long-run Economic Impacts of the Virginia-Maryland Regional College of Veterinary Medicine," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(1), pages 49-57, April.
  • Handle: RePEc:cup:jagaec:v:33:y:2001:i:01:p:49-57_02
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