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Towards the estimation of the economic value of the outputs of Scottish higher education institutions: Next Steps Summary Report

Kelly, Ursula and McNicoll, Iain and Brooks, Richard (2008) Towards the estimation of the economic value of the outputs of Scottish higher education institutions: Next Steps Summary Report. [Report]

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Abstract

This paper represents a summary of the 'Next Steps Project' which piloted the practical application of a new methodological approach applying welfare economic principles to estimate the value of non-market outputs of higher education institutions. 3 areas of non-market activity of Scottish higher education institutions were studied, namely community engagement, cultural outreach and public policy advisory activity. The aim of the study was to use real world higher education data to test the new methodological framework's potential to identify areas of high value and where metrics could be devised to support public resource allocation decisions.