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EMA 412: Planning and Economics of Education Notes

Institution: Jaramogi Oginga Odinga University of Science and Technology

Course: Bachelor of Science

Content Category: Lecture Notes

Posted By: Dominic Onsase

Document Type: PDF

Number of Pages: 9

Price: KES 250
 
    

Views: 826     Downloads: 3

Summary

Detailed notes on planning and economics of education.

ECONOMICS OF EDUCATION
Economics is a social science which deals with how human beings utilize the scarce economic resources to satisfy their needs.
Economics of education refers to the application of economic tools of analysis to education i.e. the macro and micro economic tools of analysis.
Explain the concepts of Scarcity, choice and opportunity cost as used in education? Why economists are interested in education
i) That education has got private and social benefits to a society which should be measured.
ii) That education has gotten monetary and non-monetary returns which economists want to evaluate
iii) Education makes workers more productive, it gives them skills and knowledge, makes them efficient. Employers' value educated workers.
iv) Education makes us cooperate and respect others
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