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<strong>LOA</strong> – Leave of Absence, an approved break in enrollment, not including a regularly scheduled semester break or spring break, that is requested by the student and approved by the school. The student' s request must be in writing and must include the reason for the leave. An LOA cannot exceed 180 days in any 12-month period.
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Baumol, William Jack, 1922- (B3)<br />US economist, educated at City College, New York, and London University and a professor at Princeton University from 1954 to 1971. He is famous for his economic analysis of management science, particularly his research conclusion that businesses set out to maximize their sales subject to minimum profit targets. Also, his 'unbalanced growth' model demonstrates that the different opportunities for technical progress in the various sectors of an economy lead to chronic problems in the financing of cities, medical care, educational systems and the performing arts. Recently he has been concerned with the environmental implications of welfare economics and CONTESTABLE MARKETS.<br /><em>Reference</em><br />Baumol, WJ. (1966) Performing Arts, the Economic Dilemma: a Study of Problems Common to Theatre, Opera, Music and Dance, New York: Twentieth Century Fund.<br /> - (1977) Economic Theory and Operations Analysis, 4th edn, Englewood Cliffs, NJ: Prentice Hall.<br /> Baumol, WJ. and Oates, WE. (1975) The Theor y of Environmental Policy, Englewood Cliffs, NJ; London: Prentice Hall. Baumol, WJ., Willig, R.D. and Panzar, L.S. (1982) Contestable Markets and the Theory of Industry Structure, New York: Harcourt Brace Jovanovich.
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<strong>FM</strong> – Federal Need Analysis Methodology, the formula used to calculate the EFC, which is then used to determine a student' s eligibility for the federal financial aid, state aid, and/or institutional aid programs.
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