Higher Education Finance And Economics –

fin723

(3 credits)

This course introduces and examines the major features of the financial functions operative within various types of higher education institutions. The financial functions of various types and sizes of post-secondary institutions will be presented.

Specifically, the financial functions of the following kinds of colleges and universities will be compared and contrasted: types of degree-granting institutions; public and private, non-profit and for-profit entities; small, medium, and large entities; urban, suburban, and rural entities; and unionized and non-unionized entities. In each case, traditional, non-traditional, and emerging income streams will be explored, in conjunction with traditional cost centers, non-traditional cost centers, and emerging cost centers. Financial management in the context of an institution’s Business Office will be addressed. Traditional, new, and emerging administrative practices being utilized by financial managers to control the economic dynamics engendered by various combinations of the above variables will be discussed.

Course Competencies

• Articulate the value of higher education and the interrelationships among social forces, policy, politics, costs, and investments in individuals and society.
• Evaluate the influences of global market forces, global funding of higher education, and comparative funding models in developed and developing nations on higher education policy.
• Relate basic budget philosophies, approaches, processes, allocations, and accountability to institutional strategic planning.
• Analyze the roles and functions of the office of budget and management and the responsibilities of the chief financial officer.
• Describe the contributions and ramifications of philanthropy, special interest groups, and private enterprise in financing higher education.
• Synthesize complex issues of higher education funding, including a synopsis of ethical issues and a description of emerging higher education finance policy issues.