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An overview of the market for undergraduate education in vietnam, analyzing the demand and supply factors that influence tuition fees. It discusses the concept of price ceiling, the reasons why the government imposes it on tuition fees, and the laws and regulations surrounding it. The document examines the effects of implementing a price ceiling, including both advantages and disadvantages, and suggests solutions such as increased financial support and granting autonomy to universities. The comprehensive coverage of the topic, including market analysis, policy implications, and potential remedies, makes this document a valuable resource for understanding the complexities of tuition fee regulation in the vietnamese higher education system.
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Group 3 TEACHER: DAU THI MAI LIEN
MICROECONOMICS_GROUP
Universities will be the main source of human resources for domestic and international companies, which need young human resources to bring development value to the company.
2 .2. Compare private and public school Private schools are more expensive because they have a strong point that students get more practical experience through field trips. The children will be learned and trained in a more "international" environment. For example, there are classes and schools that teach and learn entirely in a foreign language. And Private schools often, in addition to ensuring the curriculum, will also prioritize the task of developing individual capacity, organizing collective activities for life skills, and clubs.
This is the reason why Private schools are usually 5-10% more expensive than public schools.
Public schools’ fees are lower because the facilities are still not as good and modern as private schools, however at the current time government is more concern and supportive for the education of the country. However, they are going to to create high quality programs cooperated with foreign universities ranked by reliable education organizations.
3. PRICE CEILING 3.1. General theory of price ceiling The maximum prices the producers can charge (Pc) – a suppressed price. Typically, it is set on goods that are necessities, but the equilibrium price is so high that many people are unable to purchase the item. Effective price ceiling must be below equilibrium price in order to create advantages for consumer (households), However, price ceiling under equilibrium price will create shortage in the long run.
3.2. Why does the government impose price ceiling on tuition fee?
4.1. Some examples of laws In the 81 decree in 2021, government launched regulation for tuition fees in all education levels which include university tuition fees. By this decree, for Public university, the university tuition fee cannot exceed the price ceiling.
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4.2. What happened when the following decree was enacted According to surveys by the Easy Uni education network, up to 59% of young people tend to study abroad, only 41% choose education in their country, but if they have enough finance, up to 80% of young people will choose to study abroad. It can be said that student at lower income can get advantages from the price ceiling.
However, Lecturers will move to private universities due to the lower income that price ceiling brought to public universities. To address this problem, government spent more fund on lecturer salaries in order to keep attracting them to devote at public universities.
4.3. Effects of imposes price ceiling on tuition fee What will happen if we raise the price ceiling of the college? Tuition ceiling will bring pros and cons:
Advantages: