The Problem of Finishing School Is That It's Exclusive

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Bundling is the reason why some bricks and mortar universities will survive, although i think most will not. The problem with universities is that it's hard to do it a la carte. People are willing to pay far more than it costs just in terms of tuition. And the tuitions are outrageous.

In this c750th (!) episode, Duke University's Michael Munger talks with EconTalk host Russ Roberts about whether the pandemic might create an opportunity for colleges and universities to experiment and innovate. Munger is Professor of Political Science, Economics and Public Policy at Duke. He believes "top" schools can emerge from the current period of uncertainty to thrive in the long run. The path for "second-tier" institutions could be more difficult. They will still face the challenges that existed before the pandemic: competition from online classes and a shrinking pool of new applicants ready to pay high tuition bills.