How Universities Are Earning From MOOCs Until recently one of the biggest problems facing universities wishing to offer MOOCs has been the lack of an obvious revenue stream. MOOCs are free for students to join, but cost the universities an average of $50,000 including both set-up and running costs. It is known that there are 1.4 billion Internet users aged between 15 and 54 that cannot afford the costs of a university education. They would greatly benefit from the opportunity to study online for free, but the problem for universities has been finding a clear business model that will make MOOCs sustainable in the long-term. The sceptics predicted that this lack of a clear pricing strategy meant that MOOCs would never be profitable, and over time would fade away. What in fact seems to be happening is that rather than scaling back on MOOCs universities across the world are embracing the MOOC concept and increasing both the number, and the variety of MOOCs that they offer.
Concerned about the pace of change brought about by online learning, an Institute subcommittee is now preparing to recommend a “face-time” degree requirement, strong oversight of on-campus MITx experiments, and a “conservative initial approach” to awarding credit for edX classes.
Fed up with academic textbooks making constant but minor updates, adding unnecessary chapters and providing unwanted worksheets, Scott Roberts was desperate for a new way to teach his PSYC 100: Introduction to Psychology class.