Thermo-economics and the complexities of higher education economics: A visualization of the stratification of the system

This paper thoroughly explores the homological relationship between thermodynamics and economics within the theoretical framework of Bertalanffy's general systems theory. Referred to as thermoeconomics, this work seeks to integrate foundational thermodynamic principles with the complicated economic dynamics prevalent in public, not-for-profit higher education institutions across the United States. These institutions confront the persistent challenge of dwindling governmental budgets juxtaposed with escalating concerns among the public regarding the rising tuition costs compared with perceived educational benefits. The overarching aim of this research is to initiate the development of robust predictive models explaining the complexities inherent in the economics of higher education. Such models are intended to empower and facilitate informed strategic decision-making processes for all stakeholders involved in higher education to optimize benefits while mitigating costs. At the heart of this scholarly pursuit lies the conception and refinement of a graphical framework integrating theories, concepts, applications, and elements from thermodynamics and economics into a unified and comprehensive structure. Ranging from the alignment of fundamental principles such as supply and demand with insights derived from the ideal gas laws to the nuanced exploration of the diverse entropic characteristics inherent in economic utilities, this comprehensive framework serves as an invaluable tool, outlining a clear research course and guiding future scholarly inquiries within this interdisciplinary domain.

Dr. Mario G. Beruvides is a professor in the Department of Industrial & Systems Engineering at the University of Miami. Prior to joining UM, he spent 30 years at Texas Tech University, earning national and international recognition for his contributions to industrial and systems engineering. He is a registered professional engineer in the State of Texas, a Fellow of the American Society for Engineering Management, and a member of the National Academy of Inventors, holding several U.S. and international patents. Dr. Beruvides has published extensively and received numerous awards for teaching and research excellence. He has graduated over 50 Ph.D. students, many of whom have gone on to leadership roles in academia and industry worldwide. His work in distance education and international collaboration has helped establish innovative graduate programs recognized nationally and internationally.

Chris Penick is an engineering educator with over 20 years of combined experience in the automotive and aerospace industries. He teaches a broad range of courses, including Engineering Thermodynamics, Fluid Mechanics, Fluid Power Systems, Lean Principles, and Senior Design. His professional background includes roles in testing, product development, and mechanical engineering, which allow him to bring real-world context into the classroom and help students connect theory to practical application. Penick is currently pursuing a Ph.D. in Industrial and Systems Engineering at the University of Miami, where his research focuses on the thermoeconomics of higher education. This interdisciplinary approach applies engineering and economic principles to understand and improve decision-making and sustainability in the academic sector.