For the record, I’m not American nor live in the US, but I have a 19-year-old son who started attending the University of Chicago this year, studying economics. Just the tuition itself is $70k. My husband and I are lucky enough to be able to afford it - I still believe it’s an outrageous amount of money to attend college.
I mean if you can afford a 70k/tuition you probably already know how economics works…
Let me ask, why are you sending your child to that expensive college and not a local community college?
Because he wanted to go there & we can afford it. Plus it’s ranked as one of the best in the world for economics.
You just answered your own question to why it’s so expensive. While a community college is still overpriced nowadays, it would probably be 1/10th of the cost. But if you’re willing to pay 70k a year then obviously someone is willing to take that much money from you.
As long as he doesn’t end up subscribing to the Chicago school of economics, but I have the impression that the University of Chicago has moved on and that even there it’s only subscribed to by the loonies these days.
But whenever someone says they studied economy in Chicago I still get suspicious.
Ironically, the influence of the Chicago school is probably why tuition is so expensive. Supply and demand, baby.
There you go. You answered your own question, awesome.