The episode explores the puzzling phenomenon of elite universities maintaining limited enrollment despite increasing applications. The Operation Varsity Blues scandal highlights the intense competition for limited spots. The discussion then shifts to the economic factors driving this trend.
The Operation Varsity Blues scandal exposed the lengths wealthy parents would go to for elite admissions.
Elite universities have seen a surge in applications, while less selective institutions face declining enrollment.
Despite high demand and tuition costs, elite universities haven't significantly expanded their capacity.
America’s top colleges are facing record demand. So why don’t they increase supply? (Part 2 of our series from 2022, “Freakonomics Radio Goes Back to School.”)
SOURCES:
Peter Blair, professor of education at Harvard University and faculty research fellow at the National Bureau of Economic Research.
Zachary Bleemer, assistant professor of economics at Princeton University and faculty research fellow at the National Bureau of Economic Research.
Amalia Miller, professor of economics at the University of Virginia.
Morton Schapiro, professor of economics and former president of Northwestern University.
Miguel Urquiola, professor of economics at Columbia University.