EDH 7505 & Finance of Higher Education Spring, 2016 Kramer

EDH 7505 Economics & Financing of Higher Education 3 Credit Hours Spring, 2016 Course Meetings: 1. Web Course 2. Three (3) Weekend Meetings

Course Location: TBD

Instructors: Dennis A. Kramer II Ph.D. Assistant Professor of Higher Education Office: Norman Hall 293 Office Hours: Tuesdays 2:00pm to 3:00pm Thursdays: 5:00pm to 6:00pm Email: [email protected] Phone: (352) 273-4315

Course Description This course provides an overview of the economics and finance of higher education in the , with an emphasis on the analysis of economics principals. The purpose of this course is to apply concepts, models, and methods of economic theory in the analysis, synthesis, and evaluation of issues, problems, programs, policies, and behaviors related to the finance of higher education.

This course is primarily intended for graduate students in higher education, policy analysis, student affairs, educational leadership, public administration, urban and regional planning, and other kindred fields both inside and outside the college of education. I designed this course especially for those who are currently in, or are preparing for, professional positions that emphasize administrative, academic, research, student affairs, policy analysis, institutional research, or consultative roles related to higher and adult education in institutions or agencies in the public or private sectors.

Course Texts All readings will be posted on the course’s CANVAS site.

Course Objectives: This course has its foundation in the fundamental economic theories and concepts that are centrally and widely applicable in the study of higher education finance. Several sets of economic theories are particularly useful for the study of financial phenomena in higher education. In this course, we will study the following sets of economic theories and apply them to the study of higher education finance:

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer 1. the economic theories of human capital and investment in higher education; 2. the economic theories of the public sector and the role of federal and state government policies in higher education finance; and 3. the microeconomic theories of the marketplace and the firm, including theories of revenue, cost, productivity, prices, subsidies, and elasticity.

Course Requirements: 1. Attendance and Class Participation (20%) Each week you will be responsible to read, review, and critically evaluate the required readings. Please note that in most weeks I will provide you with actual questions for which you will use as you generate your reading responses, however, there will be weeks for which I will not provide you with any guided questions. During these weeks, you are to write freely and openly about any of the topics or content provided in any of the readings for that week. Your reading responses should be from a ½ page to a maximum of 2 pages single-spaced. These responses must be uploaded by 10am on Thursday each week. Subsequently, students are to read each other’s responses weekly and provided comments, if desired. Additionally, there will be lectures delivered online throughout the semester. Your attendance to these is required. Each student is allotted a total of three (3) missed discussion submissions, lecture attendances, or face-to-face weekends. If you fail to submit a weekly reaction to the readings and do not attend the online lecture in the same week, this will count as two (2) missed classes.

2. Economic and Finance Opinion Piece (20%) One common way to communicate ideas on public policy matters is through the 800-word opinion- editorial. The purpose of this assignment is to have students express and support their opinion on a complex policy issue in a brief manner. Distinct from academic writing, the persuasive op-ed format is a succinct way of advocating for an idea or position for mass audiences. Students are expected to produce an opinion piece between 750 to 800 words on a topic of their choosing and are required to use evidence to support their claims. Op-Eds are due March 11th at 5:00pm.

In preparation, students are encouraged to read op-eds from the Chronicle of Higher Education, Inside Higher Ed, Diverse Issues in Higher Education, and Dr. Marybeth Gasman’s How to write an opinion essay and why you should do it now (https://www.gse.upenn.edu/system/files/u225/Opinion%20Essay.pdf).

3. State Finance Case Study (30%) You will enrich your understanding of higher education finance by frequently making connections between principles discussed in class and real-•‐world situations. Each group of 2 or 3 that will be responsible for leading the class in a discussion of a state’s financing of higher education. Each group will select a state to present as a case (group 1 gets first choice, group 2 gets second choice, and so on). Your group will lead the class during your assigned weekend for 45 minutes (10 minutes for state context, 5-•‐10 minutes to describe problem, 10 minutes for readings application and analysis, and 15-•‐20 minutes for discussion facilitation and/or activity). The core of this assignment is to address a current issue(s) in the state’s financing of higher education as they relate to the weeks readings. In other words, you will apply the readings to a current problem, issue, or concern related to higher education financing in the state. It is important that you identify a specific problem or issue facing the state.

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer

4. Final Paper / Policy Brief (30%) The final requirement will be a major assignment in one of three formats: 1) research proposal investigating a higher education finance issue, 2) economic analysis report/brief related to higher education, or 3) argumentation paper on higher education economics or finance. You will be required to provide a copy of your project to one student, and will be responsible for providing a student with substantive feedback on their project. A detailed prompt on the final assignment will be provided during the first LEAD weekend. Final papers are due April 23rd @ 5:00pm.

Final course grades will be assigned using the following:

A = 93-100; A- = 90-92; B+ = 88-89; B = 83-87; B- = 80-82; C+ = 78-79; C = 73-77; C- = 70-72; D+ = 68-69; D = 63-67; D- = 60-62; F = 59 and lower.

Course Policies: Attendance: Class attendance is expected and is included in the class participation grade. Nevertheless, students may occasionally need to be absent due to illness, family, or work; in those cases please contact an instructor in advance.

Computers, Cell Phones, etc.: Use of computers/tablets should be limited to note-taking, assigned readings, and in-class exercises. Emailing, texting, Facebook and other social media should be limited to before and after class and during breaks during in-class sessions. During peer or guest presentations all computers/tablets are to be put away. Computers may contribute to active learning, and may serve as a distraction. Similarly, there are legitimate reasons to have a cell phone in the classroom (work, family emergencies, etc.) and they may also serve as a distraction. Please balance these needs appropriately.

Late Work: In general, I do not accept late work. Assignments turned in after the deadline will be graded as a zero. Rare circumstances and true emergencies will be taken on a case-by-case basis.

Office Hours: Questions about class assignments and requirement are to be asked during the office hours listed. Emails that are received regarding class will be answered during office hours.

University Email Policy: Students are expected to activate and then check their official UF email addresses on a frequent and consistent basis to remain informed of University communications, as certain communications may be time sensitive. Students who fail to check their email on a regular basis are responsible for any resulting consequences.

University of Florida Honor Code: It is expected that all students will support and adhere to the University of Florida Honor Code: “We, the members of the University of Florida community, pledge to hold ourselves and our peers to the highest standards of honesty and integrity.” The plagiarism policy should also be noted.

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer ADA and Persons with Disabilities: Persons with disabilities may request and, if necessary, receive appropriate academic accommodations from the University of Florida. Students must first register with and provide the needed documentation to the Disability Resource Center in the basement of Reid Residence Hall (392-8565). Second, students must bring a letter to the instructor originating from the DRC indicating the needed academic accommodations. As the student, you are responsible for initiating and completing these steps prior to receiving such accommodations.

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer

Overview of Course Outline

Week #1 January 5th Introduction

January 9th LEAD Weekend Visit

Week #2 January 12th Does College Quality Matter?

Week #3 January 19th Private vs. Social Returns to Education

January 22nd – 26th FUTURES Assembly Conference

Week #4 January 26th Federal Support of Higher Education

^Week #5 February 2nd State Support of Higher Education

Week #6 February 9th State Programs

Week #7 February 16th System of Higher Education & Public Higher Education

^Week #8 February 23rd Economic Information & Its Role in Decision-Making

Week #9 March 1st No Class: Spring Break

Week #10 March 8th Income, Wealth, & Admissions Policies Op-Eds are Due March 11th at 5:00pm

March 12th LEAD Weekend Visit

Week #11 March 15th Institutional Policies

^Week #12 March 22nd College Rankings and Their Impact

Week #13 March 29th Peer Effects in Higher Education

Week #14 April 5th Production Functions of Higher Education

^Week #15 April 12th Faculty Labor Market

Final Papers are Due April 23rd @ 5:00pm

April 23rd LEAD Weekend Visit State Finance Presentations

^Denotes an Online Wednesday on Tuesdays at 5:30pm

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer Detailed Course Outline

*** Denote Required Readings

Week #1: Introduction to Economic Concepts Readings *** Charles Clotfelter, “The Familiar but Curious Economics of Higher Education”, Journal of Economic Perspectives (Winter 1999): 3-12 *** Gordon C. Winston, “Subsidies, Hierarchies and Peers: The Awkward Economics of Higher Education”, Journal of Economic Perspectives (Winter 1999): 13-36 *** Claudia Goldin and Lawrence Katz, “The Shaping of Higher Education in the Formative Years in the United States, 1890-1940”, Journal of Economic Perspectives (Winter 1999): 37-62 *** Ronald G. Ehrenberg, “Adam Smith Goes to College: An Economist Becomes an Academic Administrator”, Journal of Economic Perspectives (Winter 1999): 99-116 *** Ronald G. Ehrenberg, “Econometric Studies of Higher Education”, Journal of (July/August 2004): 19-37 Ronald G. Ehrenberg, “Studying Ourselves: The Academic Labor Market”, Journal of Labor Economics (April2003): 267-287 Caroline Hoxby, “The Changing Selectivity of American Colleges”, Journal of Economic Perspectives (Fall 2009): 95-118 John Bound et. al. “Playing the Admissions Game: Student Responses to Increased College Competition”, Journal of Economic Perspectives (Fall 2009):119-146 Ronald G. Ehrenberg, “American Higher Education in Transition”, Journal of Economic Perspectives (Winter 2012): 193-216

Additional Resources: https://www.khanacademy.org/science/microeconomics

Week #2: Does College Quality Matter? Readings *** Estelle James et. al. “College Quality and Future Earnings: Where Should You Send Your Children to College?” American Economic Review (May 1989): 247-252 *** Dominic Brewer, Eric Eide and Ronald Ehrenberg, “Does it Pay to Attend an Elite Private College? Cross Cohort Evidence on the Effects of College Type on Earnings”, Journal of Human Resources (Winter 1999): 104-123 Eric Eide, Dominic Brewer and Ronald Ehrenberg, “Does it Pay to Attend an Elite Private College? Effects of Undergraduate College Quality on Graduate School Attendance”, Economics of Education Review (October 1998): 371-376 *** Stacy Dale and , “Estimating the Payoff to Attending a More Selective College: An Application of Selection on Unobservables”, Quarterly Journal of Economics (November 2002): 1491-1528 Stacy Dale and Alan Krueger, “Estimating the Return to College Selectivity over the Career Using Administrative Earnings Data”, NBER Working Paper No. 17159 (June 2011) Mark Hoekstra, “The Effect of Attending a Flagship State University on Earnings: A Discontinuity – Based Approach”, Review of Economics and Statistics 91 (November 2009): 717-724

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer Rodney Andrews, Jing Li, and Michael Lovenheim, “Quantile Treatment Effects of College Quality on Earnings: Evidence from Administrative Data in Texas” NBER Working Paper 18068 (May 2012)

Week #3: Private vs. Social Returns to Education Readings *** John Bound et. al., “Trade in University Training: Cross-State Variation in the Production and Use of College-Education Labor”, Journal of Econometrics (July/August 2004): 143-173 Jeffrey Groen, “The Effect of College Location on Migration of College-Educated Labor”, Journal of Econometrics (July/August 2004): 125-142 *** Enrico Moretti, “Estimating the Social Return to Higher Education: Evidence from Longitudinal and Repeated Cross-Section Data”, Journal of Econometrics (July/August 2004): 175-212 *** Cecile Rouse, “Do Two-Year Colleges Increase Overall Educational Attainment? Evidence from the States”, Journal of Policy Analysis and Management (Fall 1998):593-620 Kasey Buckles. et. al. “The Effects of College Education on Health”, NBER Working Paper No. 19222 (July 2013)

Week #4: Federal Support of Higher Education Readings *** St. John et. al (2004) – Chapter 3 (pgs 40-60) *** Dynarski, S. M., & Scott-•‐Clayton, J. E. (2013). Federal aid policy: Lessons from research. The Future of Children, 23(1), 67-•‐86. *** Curs, B. R., Singell, L. D., Jr., & Waddell, G. R. (2007). The Pell program at thirty years. In J. C. Smart (Ed.), Higher education: Handbook of theory and research: Vol. XXII (p. 281-•‐334). New York: Springer. *** Heller, D. E. (2002). The policy shift in state financial aid programs. In J. Smart (Ed.), Higher education: Handbook of Theory and Research (XVII, p. 221-•‐261). New York: Agathon *** Long, B. T. (2004). The impact of tax credits for higher education expenses. In Carol M. Hoxby (Ed.). College choices (p. 101-•165). Chicago: University of Chicago Press. Larry Singell and Joe Stone, “For Whom the Pell Tolls: The Response of University Tuition to Federal Grants-in-Aid”, Economics of Education Review (June 2007): 285-296

Week #5: State Support of Higher Education Readings *** St. John et. al (2004) – Chapter 5 (pgs 75-107) *** Dowd, A.C., & Grant, J.L. (2006). Equity and efficiency of community college appropriations: The role of local financing. The Review of Higher Education, 29(2), 167‐194. *** Weerts, D. J. & Ronca, J. M. (2012). Understanding differences in state support for higher education across states, sectors, and institutions: A longitudinal study. The Journal of Higher Education, 83(2), 155-•185. *** Cheslock, J., & Gianneschi, M. (2008). Replacing state appropriations with alternative revenue sources: The case of voluntary support. Journal of Higher Education. 79(4), p. 208- 229.

Week #6: State Programs Readings

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer *** Doyle, W.R. (2010). Does merit-•‐based aid "crowd out" need based aid? Research in Higher Education, 51(5), 397-•‐415. *** Benjamin Castleman and Bridget Terry Long, “Looking Beyond Enrollment; The Causal Effects of Need –Based Grants on College Access, Persistence and Graduation’ NBER Working Paper 19306 (August 2013) *** Christopher Cornwell, David Mustard and Deepa Sridhar, “The Enrollment Effects of Merit- Based Financial Aid: Evidence from the Georgia HOPE Program”, Journal of Labor Economics (October 2006): 761-786 *** Liang Zhang and Eric Ness, “Does State Merit-based Aid Stem Brain Drain”, Educational Evaluation and Policy Analysis (June 2010): 143-165

Week #7: System of Higher Education & Public Higher Education Readings Jeffrey Groen and Michelle White, “In-state vs. Out-of State Students: The Divergence of Interests Between Public Universities and State Governments”, Journal of Public Economics (August 2004): 1793-1814 *** Robert Lowry, “The Effects of State Political Interests and Campus Outputs on Public University Revenues”, Economics of Education Review (April 2001):105-119 Michael Rizzo and Ronald G. Ehrenberg, “Resident and Nonresident Tuition and Enrollment at Flagship State Universities” in Caroline Hoxby ed. College Choices: The Economics of Where to Go and How to Pay for It (University of Chicago Press, 2004) *** Ronald G. Ehrenberg and Christopher L, Smith, “Analyzing the Success of Transitions from 2- Year to 4-Year Institutions within a State” Economics of Education Review (February 2004): 11- 28 Jonathan Sandy et. al. “Alternative Paths to College Completion: Effect of Attending a 2-Year School on the Probability of Completing a 4-Year Degree”, Economics of Education Review (October 2006): 436-471 *** Michael Hilmer, “Does Community College Attendance Provide a Strategic Path to Higher Quality Education”, Economics of Education Review (February 1997): 59-68 Bridget Terry Long, “Do Community Colleges Provide a Viable Pathway to a Baccalaureate Degree?” Educational Evaluation and Policy Analysis (2009): 30-53 *** John Cheslock, “Differences Between Public and Private Institutions of Higher Education in the Enrollment of Transfer Students”, Economics of Education Review (May 2005): 263-274 Stephanie Riegg Cellini, “Crowded Colleges and College Crowd Out: The Impact of Public Subsidies on the Two-Year College Market”, American Economic Journal: Economic Policy 1 (August 2009): 1-30 *** Kevin M. Stange, “Differential Pricing in Undergraduate Education: Effects on Degree Production By Field”, NBER Working Paper 19183 (June 2013)

Week #8: Economic Information & Its Role in Decision-Making Readings *** Eric Bettinger et al., “The Role of Application Assistance and Information on College Decisions; Results from the H&R Block FAFSA Experiment”, Quarterly Journal of Economics (August 2012): 1205-42 *** Benjamin Castleman and Lindsay Page, “Summer Nudging: Can Personalized Text Messages and Peer Mentor Outreach Increase College Going Among Low-Income High”,

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer EdPolicyWorks Working Paper, (January 2014) -- http://curry.virginia.edu/uploads/resourceLibrary/9_Castleman_SummerTextMessages.pdf *** Caroline Hoxby and Christopher Avery, “The Missing One-Offs: The Hidden Supply of High- Achieving Low-Income Students”, NBER Working Paper 18586 (December 2012) *** Philip Oreopoulos and Ryan Dunn, “Information and College Access: Evidence from a Randomized Field Experiment”, NBER Working Paper 18551 (November 2012) Caroline Hoxby and Sarah Turner, “Expanding College Opportunities for High-Achieving Low- Income Students”, Stanford Institute for Economic Policy Research Working Paper 12-014 (2012) Amanda Pallais, “Small Differences that Matter: Mistakes in Applying to College”, NBER Working Paper 19480 (September 2013)

Week #10: Income, Wealth, & Admissions Policies Readings *** Eleanor Dillon and Jeffrey Smith, “The Determinants of Mismatch Between Students and Colleges”, NBER Working Paper 19286 (August 2013) *** Kalena Cortes, “Do Bans on Hurt Minority Students? Evidence from the Texas Top 10% Plan”, Economics of Education Review (December 2010): 1110-1124 *** Garces, L. M., & Cogburn, C. D. (2015). Beyond Declines in Student Body Diversity How Campus-Level Administrators Understand a Prohibition on Race-Conscious Postsecondary Admissions Policies. American Educational Research Journal *** Garces, L. M. (2013). Understanding the impact of affirmative action bans in different fields of studies. American Educational Research Journal, 50(2), 251–284. Michael Lovenheim and C. Lockwood Reynolds, “The Effect of Housing Wealth on College Choice: Evidence From the Housing Boom”, Journal of Human Resources (Winter 2013):1-36 Peter Arcidiacono et. al. “Affirmative Action and University Fit: Evidence From Proposition 209”, NBER Working Paper 18523 (November 2012) Peter Arcidiacono et. al. “University Differences in the Graduation of Minorities in STEM Fields: Evidence From California”, NBER Working Paper 18799 (February 2013)

Week #11: Institutional Policies Readings *** Belasco, A. S., Rosinger, K. O., & Hearn, J. C. (2014). The Test-Optional Movement at America’s Selective Liberal Arts Colleges A Boon for Equity or Something Else?. Educational Evaluation and Policy Analysis, Ronald G. Ehrenberg and Daniel S. Sherman, “Optimal Financial Aid Policies for a Selective University”, Journal of Human Resources (Spring 1984): 202-230 *** Wilbert Van Der Klaauw, “Estimating the Effect of Financial Aid Offers on College Enrollment: A Regression Discontinuity Approach”, International Economic Review (November 2002): 1249-1287 Peter Nurnberg, Morton Schapiro and David Zimmerman, “Students Choosing Colleges: Understanding the Matriculation Decision at a Highly Selective Private Institution”, Economics of Education Review (February 2012): 1-8 *** David Linsenmeier, “Financial Aid Packages and College Enrollment Decisions: An Econometric Case Study”, Review of Economics and Statistics (February 2006): 126-145 Jesse Rothstein and , “Constrained After College: Student Loans and Early Career Occupational Choices”, National Bureau of Economic Research Working Paper No. 13117 (May 2007)

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer Erica Field, “Educational Debt Burden and Career Choice: Evidence from a Financial Aid Experiment at NYU Law School”, American Economic Journal Applied Economics 1 (January 2009): 1-21 Randall Rebick, “The Impact of College Course Offerings on the Supply of Academically Talented Public School Teachers”, Journal of Econometrics (July 2004): 377-404

Week #12: The College Rankings and Their Impact Readings *** James Monks and Ronald Ehrenberg, “The Impact of USNWR College Rankings on Admissions Outcomes and Pricing Decisions at Selective Private Institutions”, National Bureau of Economic Research Working Paper No.7227 (1999) ) (shorter version published in Change Magazine Nov/Dec 1999) *** Bastedo, M. N., & Bowman, N. A. (2010). US News & World Report college rankings: Modeling institutional effects on organizational reputation. American Journal of Education, 116(2), 163-183 *** Bowman, N. A., & Bastedo, M. N. (2009). Getting on the front page: Organizational reputation, status signals, and the impact of US News and World Report on student decisions. Research in Higher Education, 50(5), 415-436 Amanda Griffith and Kevin Rask, “The Influence of USNWR Collegiate Rankings on the Matriculation of High-Ability Students: 1995-2004”, Economics of Education Review (April 2007): 244-255 *** Ginger Zhe Jin and Alex Whalley, “The Power of Attention: Do Rankings Affect the Financial Resources of Public Colleges?” National Bureau of Economic Research Working Paper No. 12941 (2007) Ronald G. Ehrenberg and Peter Hurst, “The 1995 Ratings of Doctoral Programs: A Hedonic Model”, Economics of Education Review (April 1998): 137-148 Ronald G. Ehrenberg, Liang Zhang and Jared Levin, “Crafting a Class: The Trade Off Between Merit Scholarships and Enrolling Low Income Students”, Review of Higher Education (Winter 2006): 195-214

Week #13: Peer Effects in Higher Education Readings *** Amanda Griffith, “The Role of Peers and Grades in Determining Major Persistence in the Sciences”, Economics of Education Review 29 (December 2010): 911-922 Ben Ost, “The Role of Peers and Grades in Determining Major Persistence in the Sciences”, Economics of Education Review 29 (December 2010): 923-934 *** Bruce Sacerdote, “Peer Effects with Random Assignment: Results for Dartmouth Roommates”, Quarterly Journal of Economics (May 2001): 681-704 *** David Zimmerman, “Peer Effects in Academic Outcomes: Evidence from a Natural Experiment”, Review of Economics and Statistics (February 2003): 9-23 *** Scott Carrell et. al. “Peer Effects in Academic Cheating”, Journal of Human Resources (Winter 2008): 173-207

Week #14: The Production Functions of Higher Education Readings *** Hans De Groot et. al. “The Cost Structure of American Research Universities”, Review of Economics and Statistics (August 1991): 424-431

This document is subject to change. Last version: Wednesday, December 16, 2015 EDH 7505 Economics & Finance of Higher Education Spring, 2016 Kramer *** Gary Blose, John Porter and Edward Kokkelenberg, “The Effects of Institutional Funding Cuts on Baccalaureate Graduation Rates in Public Higher Education” in Ronald G. Ehrenberg ed. What’s Happening to Public Higher Education (Johns Hopkins University Press, 2007) *** Douglas Webber and Ronald Ehrenberg, “Do Expenditures Other Than Instructional Expenditures Affect Graduation and Persistence Rates in American Higher Education”, Economics of Education Review (December 2010):947-958 *** Douglas Webber, “Expenditures and Postsecondary Graduation: An Investigation Using Individual Level Data from the State of Ohio”, Economics of Education Review (October 2012): 615-618 John Bound and Sarah Turner, “Cohort Crowding: How Resources Affect Collegiate Attainment”, Journal of Public Economics (June 2007): 877-899 John Bound et. al. “Why Have College Completion Rates Declined: An Analysis of Changing Student Preparation and Collegiate Resources”, American Economic Journal: Applied Economics (July 2010): 1-31 *** John Bound et. al., “Increasing Time to Baccalaureate Degree in the United States”, Education Finance and Policy (Fall 2012):

Week #15: The Faculty Labor Market Readings *** Ronald G. Ehrenberg and Liang Zhang, “Do Tenured and Tenure-Track Faculty Matter”, Journal of Human Resources (Summer 2005): 647-659 Liang Zhang and Ronald G. Ehrenberg, “Faculty Employment and R&D Expenditures at Research Universities”, Economics of Education Review (June 2010): 329-337 Colleen Flaherty Manchester et. al. “Is the Clock Still Ticking? An Evaluation of the Consequences of Stopping the Tenure Clock”, Industrial and Labor Relations Review (January 2013): 3-31 *** Emily Hoffman, “Faculty Salaries: Is There Discrimination by Sex, Race and Discipline?” American Economic Review (March 1976): 196-198 Kevin Hallock, “Seniority and Monopsony in the Academic Labor Market”, American Economic Review (June 1995): 654-657 *** Jeffrey A. Groen, Matthew P. Nagowski and Ronald G. Ehrenberg, “PhD Attainment of Graduates of Selective Private Academic Institutions”, Education Finance and Policy (Winter 2007): 100-110

This document is subject to change. Last version: Wednesday, December 16, 2015