Unit I: Conceptual background and Cost of Education
a. Conceptual Issues in the economics of Education
b. Meaning, definition, scope, and importance of Economics of Education.
c. The relationship between education and the economic system. The role of the economic system in
(i) Financing of education, and (ii)absorbing the educated manpower.
d. Education as an industry
e. Spill-over and inter-generational effects of education.
Unit 2 :Cost of Education
a. Concept of Cost of Education. Types of Educational costs: Direct cost, Indirect cost, Private cost, Social cost, and Opportunity cost.
b. Unit cost of Education: Its estimation. Its applications to different levels, modes, and types of education.
(Levels: Primary, Secondary and Tertiary Modes: Formal and Distance, Types: (i) General i.e. Arts, Science and Commerce, and (ii) professional and Technical)
c. External and Internal Efficiency of Education.
Unit : 3. Financing of Education
a. Micro and Macro aspects of pricing of education (Theoretical Study)
b. Financing of Education: Sources of finance for education: private, public, fees, donations.
c. Endowments and grants. Grant-in- aid principles and practices with special reference to higher education.
d. Government’s role in financing education at different levels with special reference to higher education
Unit: 4. Human Resource Development
a. The concept of human resource development. Meaning, definition. Significance and Development of human
resources through education.
b. Need for manpower planning and Estimation of manpower requirements.
c. Human capital and its relation to other forms of resources and the need for retraining.
d. The problems of educated unemployment, underemployment, and disguised unemployment e. Meaning and
purpose of Economics of Teacher provision
e. Estimating the demand for and supply of teachers and the problems associated with the estimation g. Policy
implications of the economics of teacher provision.
d. Cost-Benefit Analysis in Education:
i. Meaning of cost-benefit analysis. Its purpose and problems
ii. Profiles of age-education earnings. Calculation private marginal and benefit-cost ratio.
iii. Interpretations and evaluation of rates of return on investment in education.
e. Concept of Cost Consciousness in Education.
- Teacher: Vidyanand Khandagale