The Cost-Effectiveness of Public Higher Education: Integrating Accounting and Quality to Assess Value

Abstract

Rising costs and concerns over quality create a perception of the diminishing value of a college degree. Value is a concept that combines both costs and quality. This paper proposes an approach to value-based measurement in higher education that captures both costs and quality so that cost-effectiveness is assessed. The proposed assessment model will have potential to demonstrate comparative value between institutions, as well as academic colleges and departments within institutions. It also has implications for policy-makers.