Mission and Money

Burton A. Weisbrod is John Evans Professor of Economics and Faculty Fellow of the Institute of Policy Research at Northwestern University, Evanston, Illinois. His publications include 15 authored, coauthored, or edited books, including the landmark study The Nonprofit Economy (1987) and To Profit or Not to Profit: The Commercial Transformation of the Nonprofit Sector (Cambridge University Press, 1998), as well as nearly 200 articles in journals such as the American Economic Review, the Quarterly Journal of Economics, the Journal of Political Economy, and the Journal of Policy Analysis and Management. Professor Weisbrod is an elected Member of the Institute of Medicine of the National Academy of Sciences as well as Fellow of the American Association for the Advancement of Science, and he is a former elected member of the Executive Committee of the American Economic Association. A former Guggenheim Foundation and Ford Foundation Fellow, and senior staff member of the US Council of Economic Advisers, he recently completed terms as a member of the National Advisory Research Resources Council of the National Institutes of Health and as Chair of the Social Science Research Council Committee on Philanthropy and the Nonprofit Sector. Professor Weisbrod has received the Lifetime Research Achievement Award of the Association for Research on Nonprofit Organizations and Voluntary Associations and the American Public Health Association's Carl Taube Award for Outstanding Contributions to the Field of Mental Health Services Research. He is included in biographical listings such as Who's Who in Economics and Who's Who in Science. 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 PhD from Northwestern University. Evelyn D. Asch is Research Coordinator at the Institute for Policy Research at Northwestern University. She has also taught research and writing in the humanities and social sciences at Loyola University Chicago, DePaul University, and Shimer College. Dr Asch is the author (with Sharon K. Walsh) of three college texts in the Wadsworth Casebook in Argument series: Just War (2004), Civil Disobedience (2005), and Immigration (2005). She received her PhD from the Committee on the History of Culture of the University of Chicago.

'Mission and Money offers a wealth of fascinating information and analyses, nicely balanced between theoretical and statistical investigations (with most of the technical material relegated to the appendix), presentation of broad facts and of specific examples. The analysis is intelligent and careful, the writing is clear, and the conclusions (nicely summarized at the end of each chapter) are well-grounded and credible. Those interested in higher education as well as in the broader question of the role of different types of organization in the contemporary economy, will find the book of great value.' Avner Ben-Ner, Carlson School of Management, University of Minnesota

• 1. An introduction to the higher education industry; 2. The higher education business and the business of higher education - now and then; 3. Is higher education becoming increasingly competitive?; 4. The two-good framework: how and why schools are alike and different; 5. Tuition, price discrimination, and financial aid; 6. The place of donations in the higher education industry; 7. Endowments: financing the mission; 8. Generating revenue from research and patents; 9. Other ways to generate revenue - wherever it may be found: lobbying, distance education, and the world market; 10. Advertising, branding, and reputation; 11. Are public and nonprofit schools 'businesslike'? Cost-consciousness and the choice between higher-cost and lower-cost faculty; 12. Not quite an ivory tower: schools compete by collaboration; 13. Intercollegiate athletics: money or mission; 14. Mission or money: what do colleges want from their athletic coaches and presidents?; 15. Concluding remarks: what are the public policy issues?