"Higher education is a critical element of the American economy, because of both its benefits and its costs to individuals and taxpayers. Yet we know very little about the relationships between the things colleges and universities do and the resources they need to do them. Currently, shrinking public support and increasing tuition make it urgent that we understand our own productivity and how to measure it. The challenge we face is to contain costs without compromising quality or accessibility.
This article summarizes the report of the National Research Council Panel on Measuring Higher Education Productivity (NRC 2012a). Table 1, derived from material in the report, also appears in Massy, Sullivan, and Mackie (2013)."