Market for scholars

Universities are a bit mysterious: they provide both private and public goods, and nations and regions therefore seek to have them. Universities involve the interchange of ideas, and one way to promote this is to promote the interchange of scholars. The European Union, which has long sought to make it easy for students from one EU nation to study in another, is now also investing in making it easy for students to travel more widely: European Union Puts $1.2-Billion Into International-Study Program.

"Students from outside the European Union will be able to tap into more than $1.2-billion in new scholarship money over the next five years through Erasmus Mundus, an academic-mobility program. "
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"The Erasmus Mundus program is patterned on the 20-year-old Erasmus program, which encourages educational mobility within the European Union’s 27 member nations. Erasmus Mundus is intended to be competitive with the Fulbright program and to increase Europe’s attractiveness as a destination for foreign scholars. "
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"The program will also provide more-generous grants for European students to study outside the European Union, Mr. Figel said, “making the two-way exchange of the world’s best students and academic staff a reality.”"