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9781978845305 Academic Inspection Copy

One Semester Away from a Crisis

An Economist's Perspective on Leading Small Colleges
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Small colleges are a vital component of the United States higher education system. However, their unique characteristics are often overlooked in analyses that incorporate all colleges and universities. Many concepts familiar to economics professors but less familiar to more general audiences are helpful in understanding small colleges. These concepts include sophisticated ideas not typically covered in basic economics courses, such as regulatory capture, decision-making under uncertainty, and the logic of collective action. By combining economic theories with his own experiences leading small colleges, William T. Bogart provides a way for presidents, trustees, and other leaders of small colleges to more effectively help their institutions achieve their full potential.
William T. Bogart served as president of Maryville College, Maryville, Tennessee, and Columbia College, Columbia, South Carolina. He is the author of The Economics of Cities and Suburbs and Don't Call It Sprawl: Metropolitan Structure in the Twenty-First Century.
Prologue: Becoming a President ix 1 Introduction 1 2 Make vs. Buy 13 3 Friends, Rivals, Neighbors, and Family 29 4 Portfolio 41 5 Making a Profit 53 6 One Semester Away from a Crisis 67 7 Secular Missionaries 83 8 Risk and Uncertainty 101 9 Herding 117 10 Regulation 129 11 Mergers, Consortia, Startups, and Closures 147 Further Reading 163 Acknowledgments 169 Notes 171 References 173 Index 000
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