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Evaluating the Short- and Long-run Economic Impacts of the Virginia-Maryland Regional College of Veterinary Medicine

Binzhang Liu, Shukla Kshirsagar, Thomas Johnson, Craig Thatcher and George Norton

Journal of Agricultural and Applied Economics, 2001, vol. 33, issue 1, 49-57

Abstract: Colleges of veterinary medicine are often asked to provide evidence of the economic impacts of their activities. This paper presents methods for evaluating a veterinary college and applies them to the Virginia-Maryland Regional College of Veterinary Medicine. It assesses short-run impacts on income and employment using input-output analysis. Long-run benefits are estimated using a combination of economic surplus analysis, travel cost analysis and demand estimation, animal-owner willingness-to-pay based on a survey of practicing veterinarians, and earnings differentials.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jagaec:v:33:y:2001:i:01:p:49-57_02

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