Abstract

This paper presents a number of cost concepts, and attempts to show that, to an extent, their application in higher education is likely to be problematic. In particular, it addresses in some detail the issues that emerge in attempting to measure the ‘full’ cost of running a faculty. In that context it summarizes the most likely method for charging out the cost of central academic and support services to faculties, and points out its limitations. As the legal maxim has it, caveat emptor — let the buyer beware!

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