Mission and Money

Mission and Money

Understanding the University

By Burton Allen Weisbrod; Jeffrey P. Ballou; Evelyn D. Asch

Cambridge University Press, Hardcover, 9780521515108, 339pp.

Publication Date: November 2008

Mission and Money goes beyond the common focus on elite universities and examines the entire higher education industry, including the rapidly growing for-profit schools. The sector includes research universities, four-year colleges, two-year schools, and non-degree-granting career academies. Many institutions pursue mission-related activities that are often unprofitable and engage in profitable revenue raising activities to finance them. This book contains a good deal of original research on schools revenue sources from tuition, donations, research, patents, endowments, and other activities. It considers lobbying, distance education, and the world market, as well as advertising, branding, and reputation. The pursuit of revenue, while essential to achieve the mission of higher learning, is sometimes in conflict with that mission itself. The tension between mission and money is also highlighted in the chapter on the profitability of intercollegiate athletics. The concluding chapter investigates implications of the analysis for public policy.

About the Author

Jeffrey P. Ballou is an economist at Mathematica Policy Research, Inc. in Cambridge, Massachusetts. Prior to joining Mathematica, he held faculty positions at Northeastern and Northwestern Universities. Dr Ballou's professional research spans multiple industries, including higher education and health care, areas in which he consults regularly for policy makers and institutional stakeholders. He received his Ph.D. from Northwestern University.

Evelyn D. Asch attended the University of Chicago, where she received a B.A. and M.A., and her Ph.D. from the Committee on the History of Culture. She has taught across the curriculum in the humanities and social sciences at Shimer College, DePaul University, and Loyola University Chicago. She is currently a researcher in the Institute for Public Policy at Northwestern University.