The practice of tenure at American universities is quite common. ...

[Chloeellawright]

The practice of tenure at American universities is quite common.
 
  When a junior professor is approved for tenure he or she is promoted to associate or full professor and enjoys for all intents and purposes lifetime employment and protection against firing in the event that he or she's views are at odds with the university administration. While this policy has been in place for many decades across the country why is it that universities are hesitant to grant and do so only after careful evaluation of the candidate's work even though the salary they may have to contract is lower than what one might receive in the private sector.

Question 2

What is partial equilibrium analysis?
 
  What will be an ideal response?

[Jmfn03]

Answer to Question 1

The reasons that universities are hesitant to grant tenure and are very careful in the evaluation of candidates for tenure is that once it is granted the university incurs a significant fixed cost in terms of the salary negotiated with the professor over the expected term of employment which could span many decades.

Answer to Question 2

Partial equilibrium analysis is the process of examining the equilibrium conditions in individual markets and for households and firms separately.

[Chloeellawright]

Thanks for the timely response, appreciate it

[triiciiaa]

Wow, this really help