What is Economics Education

>> Tuesday, January 22, 2013

Economics education is the learning resource of economics. In the economics education, teachers research new ways to teach economics. They teach both micro and macro economics. In economics education, students learn different economic laws. They  learn GDP, national income, employment and other major economic issues. All these economic issues is very important to know for better development of economy. 

There is major need of economics education because for increasing per capita income, a very good economic policy is needed. Only good economist can make a good economic policy. Only after this, per capita income of any country can increase. So, all students should learn economics. 

In India, economics is the subject which is included in graduate and post-graduate classes. After post-graduation, student can learn as PHD in the economics. They have to solve a specific economic problem in his Phd. 

Nobel Prize in Economics 

1. For Contribution to Welfare Economics

You can go very deep in economics education. Like Amartya Sen, you can contribute your economics knowledge for human welfare.  Amartya Sen, CH (born 3 November 1933) is an Indian philosopher and economist who was awarded the 1998 Nobel Memorial Prize in Economic Sciences for his contributions to welfare economics and social choice theory, and for his interest in the problems of society's poorest members.

2. For Contribution to Consumption Analysis 

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

3. For Contribution to Forecast Economic Trends 

Lawrence Robert Klein (born September 14, 1920) is an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics at the Wharton School of the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980. Specifically "for the creation of economic models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists.

4. For Contribution to Track Economic Activities at International Scale 

Sir John Richard Nicholas Stone (30 August 1913 – 6 December 1991) was an eminent British economist who in 1984 received the Nobel Memorial Prize in Economic Sciences for developing an accounting model that could be used to track economic activities on a national and, later, an international scale. While he was not the first economist to work in this field, he was the first to do so with double entry accounting.

| More

Post a Comment

An educational site articles, solutions, video-guides and tutorials on all topics related to economics.