Economics of Education

COURSE NAME: ECONOMICS OF EDUCATION

COURSE CODE: EDU 1202

COURSE LEVEL: YEAR ONE SEMESTER TWO

CREDIT UNITS: 1

Description

The course intends to enable participants to apply principles of economics in the education process. Economics of Education is the vehicle to understanding how choices in education should be made amidst the situation these days when educational needs are numerous while the educational resources are instead limited.

Course Objectives

By the end of the course, students will be able to:

Demonstrate Principles of Economics that are relevant in an education setting

Demonstrate awareness of the Needs in education

Demonstrate awareness of the Resources in education

Appreciate the meaning and application of Choice and Opportunity Cost in education

Appreciate the Economic Value of education

Demonstrate awareness of Efficiency in education

Demonstrate awareness of Costs and Cost Minimization in education

Demonstrate awareness of Educational Financing and Educational Financing Mechanisms in Uganda

Demonstrate Equity in education

Learning Outcomes

By the end of the class, students should be able to:

Explain Principles of Economics that are relevant in an education setting

Describe awareness of the Needs in education

Describe awareness of the Resources in education

Explain the meaning and application of Choice and Opportunity Cost in education

Analyze the Economic Value of education

Course Content

Topic	Sub-topic	Hours
INTRODUCTION	Meaning of economics of education Economic analysis of education The role of education in the development process How is education an investment and expenditure? Human capital theory	3 hours
EFFICIENCY IN EDUCATION	Meaning of Efficiency and how it applies in education Various dimensions of efficiency in education Techniques of measuring efficiency in education Ways of improving efficiency in education	3 hours
THE CONCEPT OF COST IN EDUCATION	Meaning of cost Types of Ways of measuring educational costs The benefits of paying the cost of the teachers’ salaries How to minimize costs in education	3 hours
EDUCATIONAL FINANCING	Meaning of financing Mechanisms of educational financing in Uganda Educational finance management (budgeting and types of budgets) Sources of funds in education	3 hours
EQUITY ISSUES IN EDUCATION	Meaning of equity and how it applies in education How to measure equality and inequality in education Measures to maintain highly educated in the country against brain drain	3 hours

 

Modes of Delivery

Lecture, Group discussions, presentations

Course assessment:

Coursework / Continuous Assessment-50%

Final Evaluation-50%

References

Baumol W.J., 1999; Economic Theory and Operations Analysis, Third Ed. Prentice-Hall

Leftwich, Richard, 1986; The Price System and recourse Allocation, Fifth ed. Dry den Press