Richard Dawkins, Niall Ferguson heads line-up at private £18,000-a-year university

University lecturers and students reacted with dismay on Sunday after a group of leading British academics took a step towards the establishment of an elite US-style university system in the UK by launching a new private college offering £18,000-a-year courses.

AC Grayling, a professor of philosophy at the universities of London and Oxford, will welcome next year the first students to the New College of the Humanities to study for degrees in English, philosophy, history, economics and law taught by academics from Harvard, Princeton, Oxford and Cambridge.

There is a starry lineup of professorial talent: Richard Dawkins will teach evolutionary biology and science literacy; Niall Ferguson will lecture on economics and economic history; and Steven Pinker will teach philosophy and psychology.

Inspired in part by the business model of American Ivy League universities where $40,000 (£24,000) annual fees are not unusual, New College will cost double the maximum tuition fee allowed in government-funded universities. It is set up to deliver a profit to its shareholders who include the professors and a team of wealthy businessmen who have bankrolled the plan....