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Market in Higher Education

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Submitted By KANIKAPM
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Pages 16
Title of term paper is “Market In The Higher Education In India” . The main objective of this term paper is to critically evaluate the presence of private sector in market of higher education in India. The structure of paper starts with first , explanation of higher education as public or private good debate . various authors views are used while discussing the nature of product the higher education . Second, the importance and increasing presence of private sector in higher education is explained. Third, the form of market structure in higher education from the perspective of the student, as well as the perspective of the providers of higher education Traditionally , higher education is regarded as a public good, benefiting not only the individuals but also the whole society by producing a wide variety of externalities or social benefits. In recent times, however, the chronic shortage of public funds for higher education, the widespread introduction of neo-liberal economic policies and globalization in every country and in every sector, and the growing presence and importance of the international law on trade in services by the World Trade Organization and the General Agreement on Trade and Services—has led to change in view of many that higher education is a public good, and introduce the concept of market by the sale and purchase of higher education, as if it is a normal commodity meant for trade. The very shift in perception on the nature of higher education from a public good to a private good—a commodity that can be traded --- have serious implications

Is higher education a public good?

Economists (see Samuelson 1954; also Musgrave 1959) define public goods as those that are non-excludable and non-rivalrous. Public goods generate a large quantum of externalities, simply known as social or public benefits. Economists consider all public

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