Friday, February 18, 2011

Cost of College Textbooks...need I say more...Nice graph on the rising cost of them relative to everything else

Most of my students who take and pass (about 70-75 out of 100) the AP Macroeconomics and Micoreconomics test NEVER even open the college textbook (McConnell/Brue) we have for the class.  With enough resources (teacher generated and found on the internet) coupled with in-class instruction, it seems to me most introductory-level college classes could organized relatively textbook-free.  The chart below shows through an index that the cost of college educational materials increasing approx. 700% over time (from an index of 100 in the base year of 1979 to 800 today), while the prices of all goods and services in the economy rose only a fraction of this amount (from 100 to about 330).  If young people in the US want to protest anything on college campuses, this seems like a good cause...

Source: Carpe Diem

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