> For most people, the purpose of college is to get piece of paper that will open up higher salary opportunities

More true at an Ivy than anywhere else.

> This year, the economist decided that both the midterm and the final exams for his course would be of the take-home, closed-book type (there is a certain tradition of this at Ivy League schools).

If this guy thinks AI is motivating his previously guiless student body to start cheating on these tests, rather than simply changing the way they are cheating, he's been sniffing too many of his own farts.