英文翻译格式范本Word下载.docx

英文翻译格式范本Word下载.docx

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Thereisnoquestionthatthecostofacollegedegreeisincreasingrapidly.Anoft-cited1996studybytheGeneralAccountingOfficefoundthattuitionandfeesatpublicinstitutionshaveincreasedsome234percentsince1980whilefamilyincomeandthegeneralinflationratehaveincreasedonlyabout80percentoverthesameperiod.Costsatprivatecollegeanduniversitieshavefaredlittlebetter,increasingmorethan220percent.

Manyreasonshavebeengivenfortheincreasingcostsofhigheredition.Someofthemostpersuasiveincludetheincreaseddemandforcollegesdegrees,higheroverheadcostsassociatedwithincreasedfacultyresearch,rcentreductionsinstatesupportofpublicinstitutions,andfederalstudentaidprogramsthatindirectlysubsidizeschools.Theseallareimportantfactorsthatincreasecosts;

however,thereisanotherreasonnot.oftenmentioned.Collegesanduniversities,particularlyeliteprivateuniversitiesexerciseacertaindegreeofmonopolypowerthatallowsthemtochargeeachindividualstudentahigherpricethanwouldbethecaseotherwise.

Thisarticleaddresseseachofthereasonsforincreasedcosts.However,theemphasisisplacedonthelastone,themonopolisticpowerofschools.

TheReasonsforIncreasingCosts

IncreasedvalueofacollegedegreeThemostimportantreasoncollegecostshaveescalatedisthatthevalueofacollegeeducationhasincreased.Infact,accordingtotheGeneralAccountingOfficetheaveragecollegegraduateearnedabout43percentmorethantheaveragehighschoolgraduatedidin1980.Today,thediffereneeinearningsbetweenthesesametwogroupsismorethan70percent.Therefore,moreandmorefamiliesarefindingitnecessarytosucceedinthe,jobmarket.Atthesametime,thecollegeagepopulationingeneralhasincreased.Thisincreaseddemandforhighereducationhasdrivenupthepriceofcollegejustasincreaseddemandforanycommoditydrivesupthepriceifthatdemandisnotmetwithasufficientlyincreasedsupply.

Increasedresearchatuniversities.Anotherfactoraffectingtuitioncostsatmanycollegesanduniversitiesisanincreasedemphasisonresearch.Theprestigeofacollegeoruniversitytodayislargelyafunctionofthepublishingprowessoftheinstitution'

sprofessors.Publishingrequiresresearch,whichrequirestime.Thismeansthatprofessorsaredoinglessteachingandmoreresearch.Fewerhoursatthelecternforeachprofessormeanseitherthatcourseandclassselectionarereduced,whichforcesstudentstotakeIongertofinishadegree,orthatmoreprofessorsarerequiredonstaff,whichforcestheinstitutiontospendmoreforsalaries.CharlesSykesmadethispointinhisexcellent1988book,Pro/scam.Eitherway,theresultishigherfixedoroverheadcosts,whichtypicallyarepassedontostudentsandparentsthroughhighertuitionandfees.

Reducedstatefundingforpublicinstitutions.Inaddition,thecurrenteraoffiscalausterityingovernmenthasmeantslowergrowthinstatebudgets,whichoftenhasmeantslowergrowthinfinancialsupportofpublicuniversities.AccordingtoDpartmentofEducationstatistics,stategovernmentfundsaccountedfor46.3percentofpublicinstitutionrevenuesin1980.By1993thatfigurehaddroppedto36.8percent.Increasedtuitionhasbeentheonlyrecourseforpublicinstitutionssimultaneouslyfacedwithincreaseddemandandshrinkingstatesupport.

Federalprogramsthatfacilitatefamilydebt.Federalprogramsmeanttoassiststudentsfacingsteepcollegecostshavethemselvesaddedtotheriseintuition.StartingwithpassageoftheHigherEducationActof1965,thefederalgovernmenthasguaranteedstudentloansextendedbyprivatebanks.TheStudentLoanMarketingAssociation（SallieMae）wasestablishedin1972asagovernment-sponsoredenterprisetoestablishasecondarymarketinstudentloans.Inaddition,alimiteddirectgovernmentloanprogramwasestablishedin1993.Theseloanprogramsnotonlyfacilitateindebtedness,butalsoboostthescaleofthatindebtednessbyencouragingsteepertuitionincreases.AsThomasDonlanrecentlywroteinBarron'

smagaZynendTtteffac

canvotethemselveshighersalariesandmoreresourcesiftheonlyconsequeneeisthatstudentsandparentsjusthavetosignonthedottedlinetoborrowsomemoremoney."

Withfederaldebtassistaneesoreadilyavailable,schoolshavenoincentivetocontrolthecostsofeducation.

Schoolsasmonopolists」ncreaseddemand,increasedresearch,andreducedstatefundingallaffectthe"

sticker"

priceofacollegedegree-theadvertisedtuitionthataschoolcharges.However,federalprograms（andtoalesserextentprivatescholarshipsandinstitutionalaid）thatsubsidizestudentsdirectlyaffectnotonlythestickerpriceofcollegebutalsotheactualpricepaidbyastudentandhisfamily.Moststudentsandtheirfamiliesdonotpaythefullstickerpricejustasfewpeoplepaythefullstickerpriceforanewautomobile.Infact,thankstosubsidizedloans,institutionalscholarships,statesubsidies,andfederalgrants,schoolscanusuallygetawaywithchargingeachstudentadifferentprice.Thus,thesameeducationtypicallycostseverystudentadifferentamount.

Theabilitytochargedifferentstudentsdifferentpricesisknownineconomictermsaspricediscrimination.Onlyfirmswithmonopolisticpowerareabletoengageinpricediscrimination.Theresultofpricediscriminationisthatcollegesareabletochargeeachstudentexactlyasmuchasheorsheiswillingtopay.Whilethismayseemfairandfinancialaidisoftentoutedas"

levelingtheplayingfield,"

thefactisthatpricediscriminationrarelybenefitsanyconsumers,eventhosewithlowincomes.Tounderstandthisimportantfirsttounderstandthebasisofeveryeconomictransactiontakesplaceinthemarketplace.

Everyonewhotakespartinanyeconomictransactiondoessobecausehebelieveshewillbebetteroffafterthedealthanhebefore.Whyotherwiseshouldengageinthetrade?

Forexample,ifyou,thestudent,decideasemesterofclassesataparticularschoolfor$10,000thendecisionthatatpresentthatsemesterofclassesisworthmoretoyouthanholdingontothe$10,000.Ifthiswerenotthecasethenyouwouldbebetteroffholdingontothecashormakinganotherpurchase.Theextravalueyoureceivefromthattransaction-aboveandbeyondthe$10,000paid-isknownasyourconsumersurplus.

Theuniversityismakingexactlythesamecalculationontheothersideofthedeal.Ifthetransactiontranspiresthentheschoolhasobviouslydecidedthatthe$10,000incashismorevaluablethannotspendingthetimeandresourcestooffertheclasses.Theexcessvalueonthissideoftheledgerisknownineconomictermsasproducersurplus.Thisexamplehelpsillustratethatatransactionwilltranspireonlywhenboththepurchaserandthesellerreceivesomesurplusvaluefromthedealandconversely,aneconomictransactionwillalwaysoccurifthereisasurplustobegainedbyboththeconsumerandtheproducer.

Ofcourse,theactualamountofsurplusenjoyedbytheconsumerorproducerisdifficultifnotimpossibletomeasureinmostindividualmarkettransactions.However,itgenerallyistruethataconsumerwillreceiveagreatersurplusinacompetitivemarket（oneservedbymanyproducers）,thaninamonopolisticmarket（oneserverdbyasmallnumberofproducers）andaprducerwillenjoyalargersurplusinamonopolisticmarket.Thisisbecauseinacompetitivemarkettheconsumercanswitchfromoneproducertoanotherifheisunhappywiththelevelofsurplusheisreceiving.Competitionamongproducerslowerspricesandthusincreasesconsumersurplusattheexpenseofproducersurplus.Firmsthathavemonopolisticpower,however,neednotcompetewithotherproducersasmuchandareabletoretainalargersurplusforthemselves.Inshort,monopolisticproducershavetheluxuryofdeterminingexactlyhowmuchanindividualwillpayfortheirservicesandchargingpreciselythatamount.Consumershavelittlechoicebuttopaythemonopolist'

sprice.

What,then,isthelessonforhighereducation?

Collegesanduniversitieshavegreatermonopolisticpowertodaythaneverbefore.Thisfactcametotheforefrontin1991whenagroupofIvyLeagueschoolswereinvestigatedbytheDepartmentofjusticeforcollusioninsettingtheirtuitionprices.Inshort,theseschoolsagreedthattheywouldnoIongeroffermerit-basedscholarshipsandwouldofferfinancialaidonthebasisofneedonly.Thus,theschoolsinvoIvedagreedtoendeconomiccompetitionfortalentedstudents.TheDepartmentofjusticebrokeuptheIvyLeaguecartel.However,thishasnotputanendtotheexerciseofmonopolisticpowerbyschoolsofhigherlearning.

Infact,thepowerofthemonopolyhasspreadbeyondasmallnumberofeliteinstitutionsandhasbeenwidelyadoptedbymoreordinarycollegesanduniversities.Inpart,thisexpansionisattributabletoafailuretomeettheincreaseddemandforhighereducationwithacommensurateincreaseinsupply.Itisdifficulttobuildanewcollegeoruniversity.Andsothesamenumberofschoolsisservinganincreasingnumberofstudents.Thiswilleventuallyevenoutasnewcollegesarecreatedandgainareputationinthemarketplace,butthatwilltaketime.

Moredirectlyandconcernisthatfederalstudentaidhasenabledmonopolisticbyschools.Collegesanduniversitiesareabletoincreasethestickerpricebeyondthereachofmoststudents