PEST analysis of Learning in HE #2 Economic

The 2017 General Election campaign has brought Higher Education in the UK into stark focus, especially regarding the economic influences on the sector.

for the many, paid for by the few?

Now that the unpleasantness is over Vice Chancellors can get back to the daily grind of real economics.  Vastly underrated and, some say, under-rewarded for their sterling efforts, VCs juggle a huge array of complex and often cyclical Economic issues:

• Just how far will the £ fall through Brexit uncertainty, making UK University fees relatively cheaper to International students?
• Just how many of those international bargain hunters be allowed a visa to study?
• Just how long will it take for Labour's wish to abolish student loans to become Tory policy?

...sorry, this is supposed to be about economics...

• Just how high will staff wages rise?  That's an easy one - somewhere south of inflation, as they have for the past 5 years, at least.
• Just how competitive will the market get? Another easy one - Universities aren't in the business of competition but collaboration, similar in many ways to the Premier League and F.A. - we'll compete "on the field" but our business model relies on apparently collusive behaviour.

So, that's alright then.