The QS World University Rankings have just come out, and, as you might expect the top places (11 of the to 20 and 17 of the top 50) are dominated by US universities. By contrast Australia has five universities in the top 50 (ANU, Melbourne, Sydney, UQ and UNSW) So, you might think, this is a pretty good argument for following the US model. You get a different story, however, if you look at undergraduate enrolments (conveniently listed in Wikipedia)
I calculate that the 15 US universities in the top 50 have a total undergraduate enrolment of 210 000 (that’s dominated by a few public universities: Michigan, UC Berkeley, UCLA and Wisconsin-Madison, as well as Cornell which is partly public). By contrast, the five Australian unis enrol 148 000.
Adjusted for population, Australian students are about ten times as likely as Americans to attend a top 50 university.
Of course, the figures should be adjusted for fee-paying international students, who constitute a much larger share of the Australian student population than in the US. On the other hand, international enrolments at the top US universities are also increasing. And since many of them haven’t increased enrolments since the 1950s, the number of places for domestic American students is actually declining.
Note: I previously used the 2013 rankings. I’ve updated to the 2014 list, which includes UNSW and two more US universities. The ratios don’t change significantly as a result.
Further note In comments, reader Aldonius points to more accurate enrolment stats than I got from Wikipedia
109K domestic undergrads; 135K total (80% domestic) for ANU, Melbourne, Sydney, UQ and UNSW
723K domestic undergrads; 926K total (78% domestic) For all Oz universities
Here’s my US list
And for Australia