You have been asked to evaluate the pay of English Professors and Economics Professors at a small liberal arts college. The college's personnel department has generated some supply and demand information from similar colleges, which is presented in the diagrams below. (a) Illustrate a market-based pay scale for each type of professor.
(b) Illustrate a pay scale based upon the principle that "a faculty member is a faculty member: they are all teachers, the only difference is the subject that they teach. They should receive equal pay for equal work."
(c) Describe what difficulty the college might have in its recruiting process if it follows the pay system in (b) rather than that in (a).

Question

You have been asked to evaluate the pay of English Professors and Economics Professors at a small liberal arts college. The college's personnel department has generated some supply and demand information from similar colleges, which is presented in the diagrams below.  (a) Illustrate a market-based pay scale for each type of professor.
(b) Illustrate a pay scale based upon the principle that "a faculty member is a faculty member: they are all teachers, the only difference is the subject that they teach. They should receive equal pay for equal work."
(c) Describe what difficulty the college might have in its recruiting process if it follows the pay system in (b) rather than that in (a).

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The Answer of You have been asked to evaluate the pay of English Professors and Economics Professors at a small liberal arts college. The college's personnel department has generated some supply and demand information from similar colleges, which is presented in the diagrams below.  (a) Illustrate a market-based pay scale for each type of professor.
(b) Illustrate a pay scale based upon the principle that "a faculty member is a faculty member: they are all teachers, the only difference is the subject that they teach. They should receive equal pay for equal work."
(c) Describe what difficulty the college might have in its recruiting process if it follows the pay system in (b) rather than that in (a).

You Have Been Asked to Evaluate the Pay of English