Economics and Education

1. Presentation of education
topic economic condition and education

2. Economics
– A social science concerned with description and analysis of the
income, trade, production, distribution, and consumption of goods
and services is called economics.
– Founder of economics is Adam Smith.

3. Education and Economics
– Education play important role in escalation economic growth by
improving skills, increasing competency, and productivity.
– Economy of a country dependent on two factors
– Natural resources
– Human capital

4. Education as a Human Capital
– Human capital represents the assets each individual develops to enhance
economic productivity.
Factor influencing Human Capital
– Population’s income.
– General economic situation of the country
– The group of people of the age 17-18 years old when usually students
graduate from secondary school and are able to enter a higher education
institution
– Educational reforms reflected in expenditure on education

5. Creation of wealth and Education
– The providing better access to higher education should be viewed as far more than a first
step on a ladder towards economic, social and civic success.
– . It is a pathway towards what we are calling “wealth creation”.
– The higher studies in Pakistan help lot to increase the economy of country by increasing
wealth creation of population because the educated people are more able to use their
resources.

6. Education as important Industry
– Educational institutions serve as power houses for the production of
progressive work force in the country.
– Process of education starts right from the birth of an individual and
continues till the end of life.
Education Sector in Pakistan
– Different Governments in Pakistan have taken numerous steps to improve
the quality of education.
– According to the Education Statistics of 2008-9 Shows that literacy rate was
high in urban areas (74%) then the rural areas (48%).

7. Benefits of Education
Education help to improve our society in many way:
– It reduce the poverty.
– It reduce the social injustice.
– More awareness about our right.
– Improve economy of the country by increasing the income of individual.
– More opportunities for jobs.
– Life expectancy.
– People are aware about their duties like they paid taxes to country which
help to improve economy of country.

8. Conclusion
Education is indispensable to economic development. No economic
development is possible without good education. A balanced education
system promotes not only economic development, but productivity, and
generates individual income per capita.

9. Thank for listening