The economic principle I’m exploring is; Because of scarcity, people choose. All choices have an opportunity cost.
The article published in US News titled 5 New Ways Colleges Are Reaching High School Students demonstrates this economic principle because it shows how the colleges mentioned chose to solve their problem. Every year the recruitment process and while there was always discussion on changing it, there was a possibility for an opportunity cost; losing applications due to a bad change or campaign. The universities involved decided to change the recruitment process in ways that are mutually beneficial to both the campus and the student.
First, the universities were well aware of the recruitment process being the same every year but there was the possibility of people not approving of a change. They decided though that eventually that it was not a bad things for universities to breathe new life into the recruiting process in order to supplement the tradition, this being the use of technology throughout the recruitment process. There are now several examples of universities doing so, whether it be by using apps, social media, or promotion videos. The first technique is a very new concept, QR codes. A QR code, short for Quick Response code, is essentially a bar-code that sends users to a Web address with the snap of smartphone's camera. Many companies or corporations use QR codes in order to promote their business and services, why should universities be any different? At Hamilton College, dean Inzer began seeing the black and white squares everywhere on campus. When the time came to plan for the annual fall admissions poster, the college created one that featured only a giant QR code, which leads visitors to a custom welcome page from the school.
Second, universities are using social media and videos as ways to actually interact with potential students from all across the globe. College officials traditionally have had only one opportunity to interact face to face with the many prospective students who live to far from campus to make multiple trips. However, now with video chat colleges like Ohio Wesleyan University have been able to meet with students- distance no longer being an obstacle. Social media is another things that has a lot of influence over incoming college applicants, and colleges are taking advantage of it. Facebook contests, tweets, and youtube series are the tip of the iceberg
FUTURE RESEARCH: Do universities encourage students taking a gap year?

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