Contributions of Ame University to the Economy of Its Environment

Abstract

The African Methodist Episcopal University (AMEU) lies on Camp Johnson Road in Monrovia, Liberia. Liberia’s second-largest institution has 5,000 students. The African Methodist Episcopal Church founded the school in 1995 and the Liberian Legislature sanctioned it in 1996. Since then, the university has thrived in the Liberian economy, expanding admissions every other semester and attracting acquisitions and improving its surroundings. Governments and university administrators fail to make informed higher education investment decisions and effectively communicate the value of institutions to their people because schools’ economic influence is rarely recorded. The economic impact of AME university was studied because policymakers, university administrators, and other stakeholders need a detailed and structured study of how colleges contribute to economic growth and development. This study could consider other ways AME University supports its local economy, such as direct spending on goods and services and human development. A Google Forms survey questionnaire was prepared to obtain data from people or groups about AME University’s economic impact on Camp Johnson Road and its surroundings. The questionnaire questions about the respondent’s gender, status, income, education, spending habits, and camp Johnson community’s businesses and university. The poll also asks on the university’s economic benefits, such as increased activity. The responses were used to identify trends and relationships between AME University and economic outcomes on Camp Johnson Road and neighboring areas. The analysis indicated that 85.6% of AMEU residents are familiar with the study region, 18.8% between 10 and 5 years ago, 17.7% over 10 years ago, and 10.4% before the institution. The report indicated that 85.6% of AMEU residents believe the institution has increased commercial activity and 13.5% believe it has had little influence. According to 93.1%, AME University recruited environmental businesses and boosted economic activity. The study found that African Methodist Episcopal University (AMEU) impacts its surroundings. Most Non-AMEU residents—62 business owners and 37 residents—have lived there 10–5 years. Most claim AME University boosted Camp Johnson Road’s business. 78.20% of non-AMEU residents think the institution boosted local economic activity by attracting new customers. 39.80% said the area’s major business is used and new American goods. Most business owners chose Camp Johnson Road for traffic and AME University. The figure reveals AMEU members spend $10, $10–20, and $50–100. If the institution exits Camp Johnson Road, 45.5% agree somewhat and 37.6% strongly that commercial activities will suffer. 26.7% of firms are disadvantaged by the institution’s pause, 52.5% are unaffected, and 21.8% are moderately affected. AMEU has impacted its local economy and Montserrado. Based on this knowledge, educational institutions should partner with local businesses and groups. Educational institutions must show community benefit to succeed. Policymakers, university administrators, and other stakeholders must assess institutions’ economic significance to guide higher education spending and identify areas where universities may have a bigger impact. A unified conceptual framework that accounts for universities’ varied economic contributions is needed to monitor and identify their impacts. Higher education spending, employment, and other economic metrics must be accurate. Understanding the economic impact of institutions such as AME University can aid in communicating their worth to the community and informing sustainable development policies. Similar studies for other colleges or institutions might be conducted to assess their economic consequences and gain a more comprehensive knowledge of higher education’s function in local economies or Liberia as a whole. This could influence future educational policy and investment decisions.