The Costs and Economics of Distance Education and E-learning course allowed me to learn various aspects of cost and economics of DE. I appreciated the overall economics of DE and E-learning as well as the different components of distance education and how costs for those components inter-relate and influence each other. In addition to learning how to completely and effectively prepare justifiable and accurate cost plans, I learned how cost could be reduced by and while increasing quality of DE. For instance, effective learner support is valuable and provides high return on investment, by increasing student retention, and reducing overall costs over time.
This assignment allowed me to learn about the value of education, both to society and for the individual. I was able to learn the underpinning theory of education as related to human capital, examine and critique that theory, and apply it to the educational systems of three countries. By completing the assignment, I was able to appreciate how education affects the economics of society and vice versa.
By working on this assignment I learned the various practical aspects of cost in distance education. I learned the relevance of fixed and variable costs, development and per students costs; calculation of depreciation and annualization, total and average costs, and break-even point; and using costing knowledge to understand and demonstrate why distance education is more cost-efficient than conventional face-to-face education. This assignment has two parts: a written component and spreadsheet with costing details.Part 1
This group assignment allowed me to apply the knowledge I had gained in the course thus far, to a real-world need. My group and I proposed a course, applied the ACTIONS model to justify the course and its design, and performed costing analysis to demonstrate costs for designing and implementing the course including how it would be profitable. At the conclusion of this assignment, I had learned the various costs involved in a distance education course and how they inter-relate, as well as how to prepare a comprehensive budget for a specific distance education course. The assignment has two parts: a written component and spreadsheet with costing details.Part 1