What is Economics of Higher Education in the Digital Age

Every era exists within its own paradigm, and the COVID-19 pandemic era is a game changer that requires new perspectives. This requirement also holds true for the field of economics of education. This era of change requires the reevaluation of educational institutions. The economics of education are venturing beyond traditional fields of study regarding the development of digital skills. Topics such as financial administration, budget management, costs, supply and demand of educational services, and the reflections of learning losses on the knowledge economy represent the changing dynamic locus of the economics of education regarding digital skills during the pandemic period. In this chapter, the general impact of the pandemic on educational institutions is portrayed, the importance of digital skills in global competition in the digital economy is discussed, and lastly, the paradigm shifts in economics of education as an important field of educational sciences caused by the COVID-19 pandemic are described and evaluated within the context of the economics of distance education.