The Economist on the economics of universities and MOOCs

<p>The lack of credit or credential may be fine if you are taking the course for personal interest, or to acquire a skill which you can demonstrate and use but a credential is not used as a barrier to entry to work in the area.</p>

<p>Credit or credentialing for a MOOC class would require additional services like somehow having exams, projects, etc. with some sort of barrier against cheating; obviously, this would be extra cost.</p>