Ladies and gentlemen, the Kennedy School of Government

The latest issue of the KSG student newspaper, the Citizen, has an article with the title “KSG International Students Pay Changing Price for Education”. The subtitle is “Weak dollar sees cost of KSG degree fall for many, although picture not uniform”. The author, Sam Jeffers MPP2, claims, among other things:

Other international students have seen KSG become relatively more expensive over the past couple of years due to the weakness of their native currencies. For example, the 38 South Korean KSG students, who would have enjoyed an exchange rate of 956 Won to the dollar at the start of school year 2006, today find the rate nearer the 900 mark. As a result, their education is some six percent more expensive than it was a year ago.

Here’s a graph of USDKRW over the period discussed. Can you see what is wrong with the statement?


This is the sort of thing that says I should probably leave my year at Harvard out of my resume…

Update: Online version of the article.

1 Comment

  1. carolina

    December 5, 2007 @ 10:09 am


    Guan, give them an economics lesson!

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