If the Dean of Insead was an economics teacher, tuition fees would be agreed after a day long bargaining process in the September promotion and seats would be auctioned for the January intake. All classes would be made up of curves and they would all have to intercept somewhere. Text solutions would be banned. All cases would be graphical and could be explained with Italian food and German drinks.

The serious version is that

- There might be a core course, which everyone must take. Then people might be free to take more or less electives (with a minimum to graduate) and be charged extra if they want a few more courses. There would be an incentive not to bid all your points (such as some money refunded if you don't use them all, proportional to the number of points) so that no one bids artificially high for electives and they reflect the true value of the courses. There might a lot more flexibility easily built into the program which might last actually 12 to 16 months. People could choose to have a shorter program with more electives each period, or a longer program with fewer electives this period to follow their preferences. The time that could be freed could be invested in Clubs and various other activities...

Tuition Fees would not be called tuition fees, they would be called Student Tax. Every participant would file the number of courses taken after each period and the amount of tax owed to the school would be calculated that way. INSEAD would also try to price discriminate everyone based on their previous income, their desire to attend the school and get onto the Dean’s List to grab maximum surplus.

All professors would be allocated according to a bidding process, to make sure that everyone is able to log in its preference. Everyone’s curriculum would therefore follow as closely as possible everyone’s utility curve.

Offices would have variable opening times. They would remain open when its makes economic sense for them to be open, depending on their marginal cost and tax revenues.

Menus at the cafeteria would be taylor to fit every participant’s preference, represented by a preference curve. At the beginning of the year, every participant would be asked to set aside some money and indicate how many beers and pizzas they intend to buy out of this lot.

Benchmarking of program would be indexed based on a basket of goods (CMS, Faculty, etc…) and taxes would be adjusted in Singapore and Fontainebleau to reflect the local standard of living. This would work as an additional incentive for people to take classes in Singapore.

There would be a new fee, called Admission Fee which would be re-calculated every year based on the number of applicants and the number of seats in the program.

INSEAD would make decisions every year between Labor (Faculty) and Capital (computers and CMS) investments for a not for profit maximizing number.

It would export and import professors quite freely and trade brains with other universities. Their currency (MBA degree) would be re-evaluated every year by the Central Bank (Business Week Survey). Investments or Savings in Education would be necessary to adjust the balance of payments. Most participants would typically run a deficit in this equation, while INSEAD would count the bins.

There will be a welfare officer per participant and a governing agency per department (including parking department, which would fall under Transports). Deans would actually be elected with universal suffrage for a period of three years by all members of the INSEAD community (INSEAD grads could vote by proxy if they cannot make it in person to campus) and would select their governments. The Dean of the school would be called President, all the other Deans would be called Minister. The head of Operations would become Minister of Interior, CMS would be the Ministry of Labor, the MBA the Minister of Foreign Affairs. Before any change, it would conduct a general survey of opinions...

Every participant would be left free to adjust their consumption of Services and Education and when INSEAD’s expansion plans to becoming the biggest parking lot in Fontainebleau come to fruition, they will add Parking to the basket.