Question

In: Economics

What would you guess would be the aggregate terms used in managing a university as a...

What would you guess would be the aggregate terms used in managing a university as a whole? The computer center? The buildings and grounds?

Solutions

Expert Solution

A University, if given an accurate definition , is a formal place of education ( which maybe in collaboration with other institutes) and provide the facilities for students to pursue higher education in various fields of study and also act as a platform for doctoral and post doctoral research oriented programmes.

However , managing a university , is a conscious mix –a continuous process of monitoring its growth both in monetary terms , which means more funds for the institution and in real terms—meaning—the brand image it is able to create and sustain in the academic field, on par with similar local institution s and also on the international arena.

Just as how a University has many courses in many streams like art, science, engineering , so too efficiently managing the institution is perhaps the best way to teach students the art of ‘integrated learning’ or to put it in simple words , ‘the interdependence of the various fields of study’.

For example, if the computer center  requires a new face lift, or maybe the buildings need a good repair work done, and the grounds need to be maintained properly for their efficient use , on an aggregate level , Firstly an analysis of the expected expenditure is made clearly stating the objectives of such a ‘rebuild’ programme,   secondly, it is the cost that will be analysed – cost , a concept with economics and mathematics blend—

This in itself proves that just like how the subjects are integrated and independent , so to the success of an University depends as much on a well maintained computer lab as it depends on the well maintained grounds and buildings. On the aggregate level , we need to analyse who are the people that will get affected by the University. Who are its stake holders? Clearly Students lead the list but no far from them is the faculty, the parents of the students, the society at large and so on.

If the University has to grow stably then the stake holders’ contrition and participation in the growth process if the institution matters to a very large extent.

Management has to consider the causes of the problems as well as analyse the impending consequences of its implementation or non implementation. A good manager or a good team of management must most diplomatically deal with the issues relating to the University, since it deals with the younger section of the population – the students – who are very much tender at heart to great extent.

The economy’s infrastructure is divided into two parts – 1. Economic infrastructure like roads, communication etc.. 2. Social infrastructure like schools, hospitals and so on.

On the same note, if buildings and grounds and computer center are economic in nature, yet the ‘state of the art’, used in the University, the computer lab, the qualifications of the computer faculty especially in imparting knowledge to the teachers, becomes the social infrastructural aspect t of the issue.

On the same note, if buildings and grounds and computer center are economic in nature, yet the ‘state of the art’, used in the University, the computer lab, the qualifications of the computer faculty especially in imparting knowledge to the teachers, becomes the social infrastructural aspect t of the issue.

On the whole it would be a question of aggregate expenditure , the need to undertake such desired and planned expenditure and monitor its implementation.

The principle of opportunity cost has to be explained , in simple words, the next best alternative foregone, should be applied and analysed and regular monitoring has to be undertaking.


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