Economics, productivity, and presidential leadership in higher education

Under the 25 years of James Doti's presidency (1991-2016), Chapman University experienced a tremendous rise in university rankings. In 1991, Chapman ranked 61st on the US News & World Report Best Western Regional University rankings; in 2015, it tied for 7th. The fact that both he and his wife, Lynne Pierson Doti, hold a Ph.D. in Economics may be more than coincidental with this rise. Organizations that ignore economic principles generally do so at their own peril. President Doti spoke at Freedom Fest 2015 in Las Vegas about some of the ways that Chapman University has applied economic ideas, such as comparative advantage, economies of scale, and harnessing incentives under his leadership (Doti, 2015). His message was clear: universities will deliver higher quality output at a lower price when they employ economic theory as compared to when they ignore it.