Simulation model for optimizing the price of an educational program of a higher education institution taking into account external and internal risks on the example of the Vladivostok State University of Economics and Service

Grazhdankina E.V.1, Bedrachuk I.A.2, Vertinova A.A.2
1 ООО «Управляющая компания ВЕСТ»,, Russia
2 Владивостокский государственный университет экономики и сервиса, Russia

Journal paper

Creative Economy (РИНЦ, ВАК)
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Volume 14, Number 4 (April 2020)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=42843245
Cited: 2 by 26.03.2022

Abstract:
In order to improve the efficiency of university management, the process of educational programs pricing becomes particularly relevant in such a way that the university, fulfilling the main goal of pricing, not only reaches the break-even point, but also makes the price a competitive advantage for attracting students, as well as a strategic tool for its development. However, at the moment, there is no uniform methodology for setting prices for educational programs for all universities. The authors of the article discuss in detail the most frequently used pricing methods (regulatory and cost methods), offer the authors' simulation model for optimizing educational programs' prices on the example of the Vladivostok State University of Economics and Service (VSUES), taking into account external and internal risks using the Monte Carlo method, based on the simulation method. The described model is universal and will allow the university to effectively optimize its resources for further development, taking into account the cost of educational programs.

Keywords: price, cost of the educational program, pricing methods, pricing of the educational program, risks

JEL-classification: I23, I26, I27

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