In recent years, some business schools in Canada have begun charging tuition of more than $40 000 per year for a graduate degree, whereas Arts faculties charge much lower tuition for their graduate degrees. Students are prepared to pay the high tuition in a business school because
◦ the marginal revenue product of a business degree is lower than the marginal revenue product of an Arts degree.
◦ the marginal cost of a business degree is less than the marginal benefit of a business degree.
◦ the expected payoff in terms of higher future wages is large.
◦ the cost of providing the business education is far higher than the cost of the Arts education.
◦ they recognize that the investment in human capital is not worthwhile.
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Business mathematics