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<p>I think small classes with a high level of engagement (discussions, writing assignments, essay-based exams) do enhance the quality of undergraduate education, as long as students arrive well-prepared and highly motivated to participate. On the flip side, some students may prefer to listen to professors lecture rather than hear other students talk.</p>
<p>Presumably the “financial resources per student” category refers to endowment per student. I think it’s fair to say that this number can have a very real impact on the quality of educational resources (faculty, facilities, aid). For example, the set of top 50 schools by EPS is very similar to the set of 50 or so need-blind, full-need schools.
[Thoughts</a> on Education Policy: Top 50 Endowments Per Pupil](<a href=“http://www.edpolicythoughts.com/2012/01/top-50-endowments-per-pupil.html]Thoughts”>Thoughts on Education Policy: Top 50 Endowments Per Pupil)
[url=<a href=“http://en.wikipedia.org/wiki/Need-blind_admission]Need-blind”>Need-blind admission - Wikipedia]Need-blind</a> admission - Wikipedia, the free encyclopedia<a href=“Note%20that%20the%20University%20of%20Michigan%20is%20one%20of%20the%20few%20state%20schools%20on%20the%20latter%20list.”>/url</a></p>
<p>Of course, other factors besides endowment (such as state aid, research funding, and local operating costs) also affect annual budgets. UofM has one of the highest levels of research expenditures in the country. This should be a good thing for students and faculty alike, but it may not be captured by the USNWR “financial resources” category.</p>