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EMP412: Economics of Educations - Introduction to economics of education for fourth years

Institution: University

Course: Bachelor of Education

Content Category: class notes

Posted By: Real Educator

Document Type: DOCX

Number of Pages: 7

Price: KES 100

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Summary

EMP412: Economics of Educations - Introduction to economics of education for fourth years
Document size - 7 pages

Outline:
Definition of economics and economics of education
The concept of opportunity cost and scarcity of resources.

Definition of economics and economics of education
The nature and scope of economics
The term ECONOMICS is derived from two Greek words:
Olkos- meaning a house and
Rumeuim- to manage
Economics in Greek therefore is household management. In more precise terms, economics may be taken to mean managing a household by using the limited funds (Resources) available in the most economical manner possible.


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