Mr. Daniel O'Meara's presentation of economic concepts as outlined in his literature review for ECON 504 for Drexel University Sacramento Ed.D program

1. Higher Education and Economic Growth: Recruitment and Retention of Quality Personnel During the Economic Downturn Daniel J. O’Meara Drexel University – Sacramento, CA BUSN 502 June 4-5/2010

2. The financial crises that started in 2007, the worst since World War II, has created financial hardships on American Higher Education. Drops in state tax revenue have resulted in less government spending on education. This budgetary shortfall is affecting how institutions recruit, hire, and retain quality personnel.

3. American higher education is being deeply affected by the current economic downturn The recession: State and federal budgetary constraints = less public spending on higher education. Education is an investment in human capital which conveys a positive externality.

4. A Little History Traditional rural revenue streams are either decreasing or being cut altogether. Rural community colleges are facing challenges in how to support existing programs and projects.

7. Rural community colleges in Arizona are funded from several sources:

8. Property Tax Levy

9. Tuition and Fees

10. State Appropriations (in several forms)

11. Bonds and other forms of indebtedness

12. Grants etc

14. How Rural Community Colleges Can Contribute The importance of a highly educated workforce for sustained growth is widely acknowledged and as such, rural community colleges play a key role in fueling this growth (Doug Hart; D.W. Livingstone, 2009).

15. Spillover - The availability of high skilled labor can influence the location of high-knowledge occupations By hiring quality employees, colleges can have an impact on the quality of their graduates by assuring that they learn to high standards. The high quality of a college graduate can affect a college’s standing and benefit the institution through higher ranking, thus increasing its’ enrollment and status. With increased enrollment, business opportunities increase as well.

17. Should education be considered a public good, in that a well educated labor pool could conceivably increase efficiency and produce other important external benefits to include lower unemployment, then by realizing the increased returns on the investment in its’ human capital rural community colleges should carefully budget toward recruitment and retention policies. The expansion of higher education funding and enrollment capacity may be as important as any other policy lever to cope with an economic downturn, including funding for infrastructure (Douglass, 2008).

20. Douglass, J. A. (2008). College vs. Unemployment: Expanding Accesasa to Higher Education Is the Smart Investment During Economic Downturns. Research and Occupational Series: CSHE.21.08 Center For Studies in Higher Education UC Berkley , 1-7.

21. Goedde, J. (n.d.). From a comment to President Obama's Macomb Community College Speech.

22. Henderson, J., & Abaraham, B. (2004). Can Rural America Support A Knowledge Economy? Kansas City: Economic Review-Federal Reserve Bank of Kansas City.

24. Murray, J. P. (2007). Recruiting and Retaining Rural Community College Faculty. New Directions For Community Colleges , 57-64.

25. Phillips, S. (1983). Problems of the rural community college in Florida in providing vocational education (as perceived by administrators in nine community colleges). Tallahassee: ERIC Document Reproduction Service No. 242363.