Economics And Education: The Importance Of Economics In School Education

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CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Economics is an important subject in the school curriculum as it is considered a body of knowledge that is useful to the nation. It is also a fundamental subject which acts as a basic necessity for better understanding developmental process, not only at the individual level but at the national level. According to Harper (2001), Economics is a social science that studies the production, distribution and consumption of goods and services. Knowledge of economics is essential to every individual not only because of its application in everyday life or for being effective in the society, but also for active participation in developmental processes in the economy.
It is generally believed that knowledge …show more content…

Hence, the position of Economics in secondary school curriculum has been strengthened and accepted because of its civic values (Obemeata 1991), if Economics is such an integral part of people’s life and an understanding of Economics being critical in helping people comprehend the modern world, then Economics must be a concern of the government in the school policy …show more content…

It enables both leaders and citizens to understand basic economics concepts, principles as well as to understand, appreciate and seek to improve the economic situation for their own social good. The understanding of economics is a pre-requisite for good citizenship. To him the principal objective for teaching economics should be "to provide economics understanding necessary for responsible citizenship". Being a responsible citizen involves the ability to take rational decision on important economic issues with a good basis for doing so Furthermore, Obemeata (1991) stated that the position of economics in secondary school curriculum has been strengthened because it has been accepted that it has some civil values because of some topics as "the element and determinants of national income, the structure and activities of labour unions, the working and influence of financial institution". These prepared one adequately for life in modern society. According to Adu (2002) the study of economics serves a useful purpose in modern life. It gives us facts and shows us what may be expected to be the outcome of certain lines of conduct; it helps us to decide which of several alternatives to choose. It charged its recipient to make wise choice that will satisfy their needs in the presence of unlimited wants and

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