The Economics of Online Postsecondary Education: MOOCs, Nonselective Education, and Highly Selective Education / Caroline M. Hoxby.

Format:

Book

Author/Creator:

Hoxby, Caroline M.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w19816.

NBER working paper series no. w19816

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Economics of Online Postsecondary Education

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2014.

Summary:

I consider how online postsecondary education, including massive open online courses (MOOCs), might fit into economically sustainable models of postsecondary education. I contrast nonselective postsecondary education (NSPE)in which institutions sell fairly standardized educational services in return for up-front payments and highly selective postsecondary education (HSPE) in which institutions invest in students in return for repayments much later in life. The analysis suggests that MOOCs will be financially sustainable substitutes for some NSPE, but there are risks even in these situations. The analysis suggests that MOOCs will be financially sustainable substitutes for only a small share of HSPE and are likely to collapse the economic model that allows HSPE institutions to invest in advanced education and research. I outline a non-MOOC model of online education that may allow HSPE institutions both to sustain their distinctive activities and to reach a larger number of students.

Notes:

Print version record

January 2014.