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Oklahoma Higher Education

Oklahoma Higher Education . By: Josh Brownstein Associate Economist Regional Economic Models, Inc. Overview. Predict the total economic impacts of the higher educational system of the state of Oklahoma

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Oklahoma Higher Education

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  1. Oklahoma Higher Education By: Josh Brownstein Associate Economist Regional Economic Models, Inc.

  2. Overview • Predict the total economic impacts of the higher educational system of the state of Oklahoma • Major impacts on graduate earnings, student expenditures, employment effects on the Oklahoma economy

  3. OSRHE • Oklahoma State Regents for Higher Education provided the necessary inputs for the policy variables being analyzed • Examples of variables: capital assets, land, construction, furniture, fixture, equipment, machinery, library materials, and infrastructure • Analysis used for total operating expenses

  4. REMI analysis • Using Policy Insight, REMI looked at the direct impact on • Institutional employment and spending • Student and visitor spending • Graduate earnings • Productivity

  5. Simulations • Run a simulation from 2008 to 2050 to analyze the results • Look at the economic impact between non-college educated students and college graduates • 94 occupational matrix ->used for analysis within occupations and specific industries

  6. Economic Growth • Benefits for the state of Oklahoma • Creation of new jobs including teachers, maintenance workers, and other faculty opportunities • More competitive industries with higher education • More investment and consumption

  7. Productivity Results • As each year colleges and universities graduate a class of seniors who will be more productive than non-college educated individuals over their entire working lives

  8. Baseline vs. Higher Education Gross State Product (Bil Nom$)

  9. Total Employment and Labor Force Growth

  10. Employment • Employment (Thousands), Graduate Earnings • Graduate earnings’ initial effect on disposable personal income increased consumption, which in turn increased employment

  11. Student Expenditures • Students tend to spend money on tuition, textbooks, room and board, and other miscellaneous consumption Consumption (Bil Nom$)

  12. Employment Effect Output (Bil Nom$)

  13. Productivity Gains by Degree Type

  14. Higher Education Scenario

  15. Higher Education Results

  16. Graduate Earnings • Disposable Personal Income (Bil Nom$)

  17. Analyzing Results • In 2008, there will be an increase of $331 ($284) million in disposable income • Annual contribution of disposable income will increase by $8.825 billion from 2008-2048 • Long run->increase disposable income, will increase economic activity leading to more economic growth for the region

  18. Conclusion Thank You!

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