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Towards the estimation of the economic value of the outputs of Scottish Higher Education Institutions: an overview of the content of the main report

Kelly, Ursula and McNicoll, Iain and McLellan, Donald (2005) Towards the estimation of the economic value of the outputs of Scottish Higher Education Institutions: an overview of the content of the main report. [Report]

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Abstract

This is an overview and discussion of the key issues and findings from the project 'Towards the estimation of the economic value of the outputs of Scottish HEIs', which was undertaken in Spring 2005 by Ursula Kelly, Iain McNicoll and Donald McLellan for the Scottish Higher Education Funding Council (SHEFC) and Universities Scotland (US) Knowledge Transfer Taskforce. The project aimed to assess the feasibility of developing an economically meaningful approach to measuring the outputs of Scottish higher education institutions in monetary terms. The project was essentially a three month scoping study to determine: how far an economically valid approach could be developed to cover all of the work of Scottish higher education institutions; whether it would be feasible in practice for the approach to be used for a full-scale assessment of the economic value of the outputs of Scottish HEIs; and whether such a full-scale assessment would yield additional insights to assist the SHEFC in resource allocation issues, particularly in relation to knowledge transfer.