London Economics were commissioned by the Department for Education to undertake an analysis of: (1) The price elasticity of international student enrolments with respect to changes in the level of tuition fees charged -- separately at undergraduate and postgraduate level, and for EU and non-EU domiciled students; and (2) The potential impact on first-year EU student enrolments and associated tuition fee income for UK higher education institutions (HEIs). The first research objective is investigated using an econometric framework, distinguishing between domicile (EU and non-EU) and level (undergraduate and postgraduate). The impact channels identified under the second research objective are then modelled and analysed in Excel, at an aggregate sector level and by university 'clusters' (based on Boliver (20152)). For both objectives, multiple sensitivity analyses are performed to determine the stability and robustness of the results.