Economic Modeling in SocialWork Education

Economic modeling provides academic administrators with a logicalframework for analyzing costs associated with the processes involved in the deliveryof social work education. The specific costs associated with activities such as teaching,research, and service may be determined for a school of social work as a whole orfor specific responsibility centers (e.g., programs and services within the school).Economic modeling utilizes modern spreadsheet software that can be configured inrelation to the idiosyncratic needs and budgeting strategies that exist in virtually allcolleges and universities. As a versatile planning tool, it enables managers to identifyspecific “cost-drivers” that cause the occurrence of real costs in relation to designatedprogrammatic initiatives. In addition, economic modeling provides academic plannersand decision-makers a useful vehicle for considering the economic impact ofvarious projected (“what if”) scenarios.