Redemption through MOOCs?

Massive open online courses (MOOCs) have received considerable publicity over the last few years. Since they offer costless learning experiences, many have seen them as a way of reducing the costs of higher education. A commonly suggested approach is that learners should be able to take a range of MOOCs and use their certificates of completion to assemble a portfolio that reflects their learning accomplishments, with separate educational market-providers offering services such as advisement, assessment, and accreditation of the portfolio content. It is speculated that this fracturing, or disaggregation, of the current higher educating system would allow learners greater choice and reduce the costs of obtaining accredited degrees. This chapter explores the opportunities and challenges presented by MOOCs and the economic and educational implications of a proposed disaggregation of the higher education system. The analysis suggests that disaggregation would not necessarily reduced costs, but that it would inevitably destroy much of the unpaid-for-value that resides for graduates in the current aggregated system of higher education.