When it comes to fixing an academic program portfolio or running a healthy institution, understanding program economics is vital. The goal is typically not to profit, but to generate funds that the college can re-invest to advance its mission, strategy, and quality of instruction.
Some assume clear links between academic programs and occupations for graduates, which are neatly embodied in the NCES crosswalk between programs and occupations. In theory, they are right. In practice, it is bunk for graduates with a bachelor’s degree.
Many community colleges and other higher education institutions use labor market forecasts to inform decisions on academic programs, faculty hiring, and facilities investments. How accurate are these forecasts?
When evaluating current and new academic programs, community colleges usually focus on the needs of employers, in particular local employers. and fuels local economic growth.
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