AN INFORMATIONAL REPORT ON ECONOMIC EDUCATION

Objectives

Purpose

General information

(INTRODUCTION PART)

Firstly, we need to define first what is economic education as it focuses on the

scholarship of teaching economics. It encompasses the content to be taught, method of
teaching, evaluation of those method and information of general interests to teachers of
economics in elementary through graduate schools Van Wyk, M. M. (2015). Economic
is a social science that focuses on the production, distribution and consumption of
goods and services and analyzes the choices that individuals, business, governments
and nations make to allocate resources (Hayes, 2023). The economic aims of education
are connected with the individual and collective economic development. These aims are
closely related to the social stability. The individuals and collective development is
connected with the acquisition of these aims. The experts hold the following economic
aims of education are the PROVISION OF SKILLFUL MANPOWER, ECONOIC
DEVELOPMENT, UTILIZATION OF NATURAL RESOURCES, PROMOTION OF
ECONOMIC OPPORTUNITIES, and INCREASE IN INDIVIDUAL AND NATIONAL
INCOME AND RISE IN STANDARD OF LIVING.

The economic aim in education is to have provision of skillful manpower; to the

society is a significant economic aim of education. Acquisition of this aim can cause
economic development and individual well-being. Economic Development is directly
inked with the individual and collective economic development and stability. Education
enables an individual to participate in the productive economic activities and thereby
promote his standard of living. Utilization of Natural resources as the educationist holds
the utilization of natural resources is one of the significant economic aims of education.
Promotion of economic opportunities is very significant as it enables the individuals to
fully utilize the national natural resources. Promotion of economic opportunities is also
significant for economic aims for education as it is abundance in economic
responsibilities is closely linked with the abundance in employment opportunities since if
there is no economic activity there is no possibility of employment. Increase in individual
and national income, every systems of education intends to increase in individual and
national income. A developed system of education opens new ways of economic
development. Lastly for the objectives of economic education is the rise in standard of
living as the education increases and develops those abilities of the individuals which he
becomes able to participate in the productive economic activities (Baba, K., 2015).
Let us proceed to the purpose of economic in education, the more students understands
and consider the skills, knowledge, experience and personal characteristics that
contributes to the success in our dynamic global economy, the greater the likelihood
they will appreciate how continual investment in their human capital will help them
achieve their goal. The study of economics examines how individuals, organizations
and societies make choices under conditions of scarity. Thus, a primary goal of
economic education is to equip students with the knowledge and tools they need to
make the best choices possible, given the resources available (Carlos J. Asarta, Roger
B. Butters, 2015).

Van Wyk, M. M. (2015). Teaching economics. In Elsevier eBooks (pp. 83–

88). https://doi.org/10.1016/b978-0-08-097086-8.92072-5

Hayes, A. (2023). Economics Defined with Types, Indicators, and

Systems. Investopedia. https://www.investopedia.com/terms/e/economics.asp#:~:text=
Economics%20is%20a%20social%20science,nations%20make%20to%20allocate
%20resources

Baba, K. (2015b, March 9). What are the economic aims of

education. https://studypoints.blogspot.com/2015/03/what-are-economic-aims-of-
education.html

McEwan, P. J. (2010b). Empirical research methods in the economics of education.

In Elsevier eBooks (pp. 187–192). https://doi.org/10.1016/b978-0-08-044894-
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