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Why should taxpayers subsidize public colleges and universities? what external benefits are generated by higher education?

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Mahe Alam
Mahe AlamLv10
28 Sep 2019

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Related questions

Discussion: Externalities and Public Goods

Is education a public good? Does education have external benefits? If so, what are some of those public benefits? In your opinion are the external benefits large or small? Why? What should government do to promote the efficient provision of products that have external benefits? If you think that government should put more resources into education, what might be some of the opportunity costs of that decision? How would an economist determine the right amount of government support for education?

Most European countries have nationalized their universities and colleges. Consider that some countries have also used the law to ban private colleges. Should higher education be classified as a natural monopoly in these European countries? Explain and justify your answer and use appropriate examples to support your conclusions.

Next, consider the case of several large, established pharmaceutical manufacturers such as Merck. What type of market form do you believe that such manufacturers operate under? Justify your answers and use appropriate examples to support your conclusions.

Who would go to college in a completely private (market) college system? How does government intervention change this FOR WHOM outcome? Since public colleges and universities are funded with tax dollars, should the government be able to require college attendance like elementary - high school attendance is required?

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