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ECO journal (ECOnomics and industrial Engineering)

2018 year, number 8

Peculiarities of Educational Process and their Meaning for the Higher Education Reform

S. N. Mikhailitchenko
Holmes Institute, Brisbane, Australia
Keywords: реформа высшего образования, структура рынка, несостоятельность рынка, Higher education reform, market structure, market failure

Abstract

The article looks at the economic structure of the operational functions of an educational institution with a purpose of selecting the optimal approach to regulation and reforms in the higher education industry. The author believes that the course and program content as well as test material are natural monopolies, which implies an active government regulation. Academic administration is an oligopoly and needs only minimal monitoring from the state. Teaching itself is a monopolistically competitive market and, therefore, can be left to the market forces to achieve the optimal social outcome without any interference from the government side. The suggested approach allows simultaneously solving the problems associated with the quality of higher education and problems associated with public funding of this sector.