DIANA R.

GOMEZ MASTER OF EDUCATION MAJOR IN EDUCATIONAL MANAGEMENT

ECONOMICS OF EDUCATION EXAM 1. How is the science of economics applied to education? The Science of Economics can be applied to education because the prosperity of the country or the economy depends in our education .Meaning to say that if we ,people in our country were educated enough to our field of expertise ,we can be benefited , we can also provide the best means for organizing outcomes. 2. What do you mean by education inflation? Discuss. Education Inflation is the changing and modernizing the standards of education as the day goes by or a period of time causes by the excessive growth of professionals that are needed to the requirements of the given opportunities.the higher the education , the great opportunities awaits. To be discuss is when a job, which ten years ago only required a high school education, now requires a bachelor's degree or higher. Other jobs, once requiring only a bachelor's degree, now require a master's degree.So that our Department of Education implemented the K to 12 Curriculum. 3. Discuss why education is a form of human capital? Education is a form of Human Capital because Education increases the economic activity; and governments can improve market

worth on making individuals more able to contribute to a company or to his/her work and even in society. If we invest our education , it will also increase our value as an employer,it can make us to be promoted within the position we are required or suited. In a general sense, society's investment in educational programs increases people's value to society in general.

4. Discuss some investments costs from the point of view of stakeholders in the Philippine Education System, viz-a-viz: a. Government b. school c. Teachers d. Students