A small profit will start to be made by UBC at the end of the third year. A more substantial profit will be made over the life of the entire program of five courses as start-up costs (which are substantially higher than ongoing/maintenance costs) will have been absorbed in the first course, EDST 565f. This course served as a template for the other four courses, therefore less time (and money) was required to develop the remaining four courses. The profit serves as a contingency in case unexpected costs arise or projected student numbers are not reached.
This is just one excerpt from one of may papers on Tony Bate’s home page.