That’s the argument by officials at the Massachusetts Institute of Technology, which on Wednesday announced a plan to create what it calls an "inverted admissions" process, starting with a pilot project within a master’s program in supply-chain management.ADDED: With so much hanging on success in the MOOCs, how will MIT deal with cheating? Here's an article from last month in the MIT News: "Study identifies new cheating method in MOOCs/Research from MIT and Harvard shows how to exploit and protect MOOC certification":
... Students who come to the program after first taking the MOOCs will then essentially place out of the first half of the coursework, so they can finish the degree in a semester rather than an academic year. That effectively makes the master’s program half the usual price.
In this [new] method of cheating, a user creates multiple accounts, one of which is the primary account that will ultimately earn a certificate. The other accounts are used to find or “harvest” the correct answers to assessment questions for the master account.