Introduction 

Economics plays a key role in our daily life. It depicts the financial position of any country, an organization or an individual. Economics and financing of education is a very important part of the educational system. Recently various new trends have emerged in the field of financing of education at various levels. Unfortunately our all financing of education so far has been in the hands of experts of economics and financing who were not experts in the educational matters. So there is a dire need of experts in educational economics and financing. Furthermore, our educational administrators (from headmasters to EDO Education) do not have any professional education and training in Economics and Financing of Education. This course is intended to provide the foundation for this purpose. The basic aim is to introduce students with the concepts, theories and principles of economics and financing and their application in our educational setup.

Learning Outcomes 

The general objectives of the course are to enable the prospective teachers and teacher educators to:

1. Understand and explain the relationship between economics and education
2. Review and evaluate the demand and supply of education both at individual and social level
3. Explain the social and private returns of the education
4. Understand and evaluate manpower planning in Pakistan and compare it with that of the advance countries
5. Analyze various educational costs like cost benefit, cost effectiveness etc.
6. Calculate and report the costing of educational projects
7. Understand and evaluate the process of financing and budgeting in Pakistan
8. Understand and describe the role of vocational and technical education in the economic growth of a country and compare it with that of academic one

Assessment Criteria 

MidTerm = 30 % 

FinalTerm = 50 % 

Sessional = 20 %

Recommended Books 

1. Siddiqui, S. A. (Compiler). (2000). Trends and issues in education. Islamabad: AIOU. 
2. Beckford, J. (2001). Quality: A critical introduction. London: Routledge. 
3. Nataranjan, S. (1993). Introduction to economics of education. New Delhi: Sterling Publishers. 
4. Saeed, K. A. (2003). Economy of Pakistan. Karachi: Oxford University Press. 
5. Nasir, M.S. and Hyder, S. K. (2003). Economics of Pakistan For B.Com & B.A. Lahore: Imtiaz Book Depot. 
6. Monk, D.H. and Underwood, J. (1988). Micro level school Finance- Issues and implications for policy. Cambridge: Ballinger Publishing Co

Time Table 

Anyother