Revenue, cost, tuition, and scholarship data at private liberal arts colleges from 2003–2013 are used to estimate how each college's net revenue per student varies with enrollment. Our empirical specification assumes that simultaneously pick their optimal tuition cost of instruction. The estimates allow us identify the enrollment level maximizes return on provision educational services. Thirty-...

The hierarchical nature of higher education, in which schools compete in small enclaves for the best students, and competition for higher rankings among private, non-profit liberal arts colleges has prompted some schools to drastically increase their tuition in order to correspond with the price changes of rival institutions. Since top liberal arts schools operate with sizable excess demand for...

Epidemiology has features that resemble those of the traditional liberal arts. This makes it fit both for inclusion in an undergraduate curriculum and as an example in medical school of the continuing value of a liberal education. As a "low-technology" science, epidemiology is readily accessible to nonspecialists. Because it is useful for taking a first look at a new problem, it is applicable t...