The use of different languages in the practices of modern universities has rapidly reached the status of a "hot" topic. However, many important decisions in this area appear to be made with little or no explicit identification of alternative strategies, let alone any weighing of their respective advantages and drawbacks. In this paper, we draw on education economics and language economics in order to formulate a policy evaluation approach to university language choices. After identifying the range of language questions in confronting universities, we review essential andalytical concepts and provide a critical discussion of some of the arguments typically put forward in favour of, or against, the increased of English as a dominant language of academia.