PEDAGOGY OF ECONOMICS [ Teaching Of Economics ]

PEDAGOGY OF ECONOMICS [ Teaching Of Economics ]

PEDAGOGY OF ECONOMICS | Teaching Of Economics 

According to Samuelson and Nordhaus: “Often economics appears to be an endless procession of new puzzles, problems, and difficult dilemmas”

Pedagogy of Economics or Teaching of Economics subject B.Ed, b ed, bed, b-ed, 1st, 2nd,3rd, 4th, 5th, 6th, first, second, third, fourth, fifth, sixth semester year student teachers teaching notes, study material, pdf, ppt,book,exam texbook,ebook handmade last minute examination passing marks short and easy to understand notes in English Medium download free


The term economics comes from the Ancient Greek – oikonomia,management of the household, the administration”. 

Economics is the social science that is concerned with the

  • Production,
  • Distribution and
  • Consumption of goods and services.

Economics deals with the study of various activities of man directed towards the acquisition of wealth and earning of money.


  1. Economics is the science that deals with the production, exchange, and consumption of various commodities in economic systems.
  2. It shows how scarce resources can be used to increase wealth and human welfare.
  3. Economics aims to explain how economics works and how economic agents interact.
  4. The expanding domain of economics in social science has been described as economic imperialism”. It tells that economics can be used for raising the living standard of people and their welfare.


Economics is a Science: Science is a systematized body of knowledge that traces the relationship between cause and effect. Economics investigates the possibility of deducing generalizations as regards the economic firms that can be very easily measured in terms of money. Thus, economics is a science. 

Economics is a Social Science: Laborers are working on materials drawn from all over the world and producing commodities to be sold all over the world in order to exchange goods from all parts of the world to satisfy their wants. There is, thus, a close inter-dependence of millions of people living in distant lands unknown to one another.

Economics is also an art: An art is a system of rules for the attainment of a given end. Economics offers us practical guidance in the solution to economic problems. Science and art are complementary to each other and economics is both a science and an art.

Economics – A Positive Science: Positive science does not indicate what is good or what is bad to society. It will simply provide results of the economic analysis of a problem.

Economics – A Normative science: It makes a distinction between good and bad. It prescribes what should be done to promote human welfare.

Subject Matter of Economics

Economics can be studied through

  1. Traditional Approach
  2. Modern Approach

Traditional approach: In the traditional approach, Economics is studied under five major divisions

  1. Consumption
  2. Production
  3. Exchange
  4. Distribution
  5. Public Finance

Modern Approach: In Modern Approach The study of economics is divided into

  1. Microeconomics
  2. Macroeconomics 


The aims and objectives of teaching economics at the higher secondary level are as follows:

  1. To make the students able to acquire knowledge of various economic terms.
  2. To make the students able to understand the various causes of population explosion, consequences, and its various remedial measure.
  3. To make the students able to understand the various causes of poverty, unemployment, price rise, inflation, and their remedial measures.
  4. To make the students able to understand the economic explosion of consumers, rights of consumers in society.
  5. To make the students able to understand the mutual relationship between agriculture and industry.
  6. To make the students able to know the importance of foreign trade.
  7. To make the students aware of the role of the state in the promotion of economic development
  8. To develop the attitudes of the students towards the constructive social and economic development of the nation as a whole.


  • In present-day society, all your needs and wants can be satisfied only if you have enough wealth and money.
  • Thus, all human activities are directed towards earning money and acquiring wealth. It means that most of the human activities are economic activities.
  • Economics deals with the study of various activities of man directed towards the acquisition of wealth and earning of money.
  • Today the growth is seen by the quantity of consumption, where items are used & thrown fast.
  • Economics has become the center of various activities.
  • Each and every subject is viewed from its economical angle because one always likes subjects which fetch more money in one’s future life. 

LearningClassesOnline B.Ed Notes


The value of the study of economics is as follows:

  • A Field of Information: The study of economics helps the students to broaden their knowledge. Students can be aware of most of the interesting and logical facts about the behavior of human beings.
  • A Field of Training in Mental Horizon: It is the reasoning power that leads human beings towards achieving certain goals of their lives. This reasoning power is increased through the study of economics.
  • A Field of Cultural Value: Proper balance is required to develop culturally and the teaching of economics provides a better understanding of the good use of various things in life.
  • A Field of Mutual Cooperation: On the basis of cooperation all the activities of the economy is possible


Planning is essential in any sort of activity and more so when a teacher is going to a classroom for teaching a subject. Especially for an Economics teacher, it is absolutely essential that he plans the topic well in advance so as to make his teaching interesting and efficient by organizing simple activities.


Different teaching methods are available for teaching Economics. Before going to the classroom, the teacher has to select the appropriate method for teaching the topic and also the proper teaching aid which will help the learner to understand the concepts in the topic. This is sometimes called planning the strategy.

In the words of Lester B. Stands. “A lesson plan is actually a plan of action. It includes the working philosophy of the teacher, his knowledge of philosophy, his knowledge about students, objectives, material to be taught and his ability to utilize effective methods.”

Components of a Lesson plan

Teachers should follow specific steps in writing lesson plans. They are:

  1. Preparation
  2. Presentation
  3. Comparison
  4. Generalization
  5. Application
  6. Recapitulation

In the modern days these steps are included in four steps, which are as follows:

  1. Preparation
  2. Development
  3. Review
  4. Assignment

Advantages of Lesson Planning

The advantage of a lesson plan can be listed as follows:

  • It makes the teacher’s work regular, well organized, and systematic.
  • It prompts confidence and self-reliance in the teacher.
  • It provides greater freedom in teaching.
  • It avoids wastage of time.

Criteria of a Good Lesson Plan

  • A lesson plan should be written and well prepared.
  • General and Specific Objectives should be clearly stated.
  • Types of aids used should be used.
  • Review and assignment should be written at the end of the lesson.
  • Questions should be well planned.


A unit is a large subdivision of subject matter with a common fabric of knowledge.

Preston: ‘A unit is as large a block of related subject matter as can be over viewed by the learner’.
Stanford: ‘A unit is an outline of carefully selected subject matter which has been isolated because of its relationship to pupil’s need’s and interests’.

Steps in Unit Planning

  1. Content analysis (the What of the unit)
  2. Objectives with specifications (the Why of the unit)
  3. Learning activities (the How of the unit)
  4. Testing procedures (Evidence of achievement)


One of the most important aspects of the teaching-learning process is the specifications of instructional objectives.

Dr.Benjamin S Bloom (1956) gave the idea of classification of educational objectives. He classified educational objectives into three main areas or domains called

  1. Cognitive
  2. Affective
  3. Psychomotor

Cognitive Domain: It is also concerned with the intellectual skills and abilities of the students.

Affective Domain: The changes in interests and values and the development of applications

Psychomotor Domain: The development of manipulative or motor skills


Objective Type Test

An objective type test item is one in which the response will be objective.

Objective type test item can be broadly classified into:

  • Multiple-choice Test
  • Matching Type Test
  • Simple Recall Type Test

Short Answer Type Test

A question requiring value points at the most may be defined as a short answer question. Thus, the length of the answer expected from a short answer question becomes very short.

Essay Type

According to the dictionary by Good, an essay test is a typing test is a type of examination in which the subject or examinee is asked to discuss, enumerate, compare, state, evaluate, analyze, summarize or criticize and involves writing at a specific length on a given topic.


Formative evaluation is concerned with making decisions relating to the forming or development of students as well as of the courses.

It provides feedback at appropriate stages of the teaching-learning process which helps in making changes in the curriculum, teaching strategies, and the learning environment.


Since evaluation is an integral part of teaching and learning, students are observed in various situations continuously with a view to assessing their level of achievement in terms of what has been expected of them.

The written examination is one of the most commonly employed and widely accepted techniques for measuring student’s achievement.

The construction of an achievement test has its importance in student evaluation.

Steps involved in the Construction of an Achievement test

  1. Planning of the test
  2. Preparation of a design
  3. Preparation of the Blueprint
  4. Writing of Items
  5. Preparation of the Scoring key and Marking scheme
  6. Preparation of Question wise Analysis


Teaching includes all the activities of providing education to others. The person who provides education is called the teacher. Teaching means the interaction between teachers and students.

Teaching skill is a group of teaching acts or behaviors intended to facilitate student’s learning directly or indirectly.

Teaching skills would include

  • Providing training and practice in different techniques,
  • Approaches and strategies that would help the teachers to plan and impart instruction,
  • Provide appropriate reinforcement and conduct an effective assessment.

Types of Teaching Skills:


  • The skill of introducing a Lesson is an important skill required for a teacher.
  • The skill is intended for making effectiveness in introducing the content.
  • This is always done at the start of a class.
  • The teacher gives a brief introduction to the lesson in order to pre-dispose the pupil’s mind to it.


  • In the classroom, the teacher explains ideas and concepts.
  • The Skill of Explanation is the most commonly used skill and is the essence of instruction.


  • A question is any sentence that has an interrogative form or function.
  • In classroom settings, teacher questions are defined as instructional cues or stimuli that convey to students the content elements to be learned and directions for what they are to do and how they are to do it.
  • Questioning  Skill promotes involvement, initiates thinking, creates motivation, and enhances learning.

Skill of Closure

  • This skill is useful for a teacher to close his teaching properly.
  • The teacher is to summarize all the teaching during the period and provides opportunities for the students to correlate the learned matter with the past and future knowledge.

Skill of Reinforcement

  • This skill is the most important than other teaching skills.
  • Reinforcement, the term implies the use of the technique for influencing the behavior of individuals in the desired direction.
  • The skill of reinforcement refers to the effective use of reinforcers.
  • It can therefore be defined as ‘the effective use of reinforcers to modify student’s behavior in the desired direction”.

The skill of Varying the Stimulus

Varying the stimulus is described as a deliberate change in the behaviors of the teacher in order to sustain the attention of the learners throughout the lesson.


It is a teaching training technique for learning teaching skills.

A mini-lesson is a basic precursor to a bigger or broader topic. It is a short lesson that can be taught in just a few minutes, but it can benefit the students in lessons to come.


Methods of teaching Economics can be classified into two types:

  1. Teacher-Centered
  2. Pupil-Centered

Teacher-Centered Teaching

  • The teacher-centered teaching is mainly expository in type in which the focus is on telling, memorization, and recalling information.
  • The students are passive recipients of knowledge.
  • The teaching environment is very much formalized and the teacher occupies a central position in the classroom.

Pupil Centered Teaching

In pupil-centered teaching, the whole teaching-learning process is geared to the needs, requirements, capabilities, and interests of the pupils.



  • This is a method generally followed in colleges and schools with big classes.
  • In this method only the teacher talks.
  • The students are passive listeners and they do not take any active part in the development of the lesson.


  1. Attractive and concise
  2. Economical
  3. Speedy
  4. Useful for Factual Information
  5. Useful for Logical Sequence
  6. Time-Saving
  7. Inspirational Value


  1. Memory-based
  2. Spoon feeding
  3. Teacher centered
  4. Too rapid
  5. Un psychological
  6. Authoritarian
  7. No critical Thinking
  8. Useful for higher classes


  • This method includes the merits of the lecture method and demonstration method.
  • The teacher performs the experiment in the class and goes on to explain what she does.
  • It takes into account the active participation of the student.


Learner-centered methods are those methods where the focus of attraction is learners than teachers.


  • A problem is placed before the learners and they are asked to find the solution to the problem through various literacy means like a library, laboratory, and workshops, etc.
  • The teacher’s role is to initiate the learning and pupils are active throughout the learning process.


  • It is a method in which a specific problem is given to the students and they are required to find out the solution through objective reasoning and thinking.
  • This method is also highly suitable for teaching economics.

Steps in the problem-solving method

  1. Recognizing the problem
  2. Defining and interpreting the problem
  3. Collecting data related to the problem
  4. Organizing and evaluating the data of the problem
  5. Arriving at the final conclusion
  6. Verifying the result


Induction “is the process of reasoning from a part to the whole, from particulars to generals or from the individual to the universal.”

Bacon described it as “an ascending process” in which facts are collected, arranged, and then general conclusions are drawn.

  • The inductive method was employed in economics by the German Historical School which sought to develop economics wholly from historical research.
  • The historical or inductive method expects the economist to be primarily an economic historian who should first collect material, draw generalizations, and verify the conclusions by applying them to subsequent events.
  • For this, it uses statistical methods.

The inductive method involves the following steps:

  1. The Problem
  2. Data
  3. Observation
  4. Generalization

Merits of the Inductive Method:

  • Realistic
  • Future Enquiries
  • Statistical Method
  • Dynamic
  • Historic-Relative

Demerits of Inductive Method:

  • Misinterpretation of Data
  • Uncertain Conclusions
  • Lacks Concreteness
  • Costly Method
  • Difficult to Prove Hypothesis


Deduction Means reasoning or inference from the general to the particular or from the universal to the individual.

The deductive method derives new conclusions from fundamental assumptions or from truth established by other methods.

Bacon described deduction as a “descending process” in which we proceed from a general principle to its consequences.

Deduction involves four steps:

  1. Selecting the problem
  2. The formulation of assumptions on the basis of which the problem is to be explored.
  3. The formulation of hypothesis through the process of logical reasoning whereby inferences are drawn.
  4. Verifying the hypothesis

Merits of the Deductive Method:

  • Real
  • Simple
  • Powerful
  • Exact
  • Indispensable
  • Universal

Demerits of Deductive Method:

  • Unrealistic Assumption
  • Not Universally Applicable
  • Incorrect Verification
  • Abstract Method
  • Static Method
  • Intellectually



  • A project is a scheme of something to be done.
  • The project as a method of teaching is a natural, whole-hearted problem solving and purposeful activity carried to completion by students in a social environment under the guidance of their teacher.
  • It is the outcome of the pragmatic philosophy of education propounded by John Dewey.

This method is based on the following principles:

  1. Students learn better through association, co-operation, and activity.
  2. Learning by doing
  3. Learning by living


  • It promotes co-operation and group interaction.
  • It is a democratic way of learning.
  • It teaches the dignity of labor.
  • It helps to widen the mental horizons of students.


  • The project method absorbs a lot of time.
  • It gives the students superficial knowledge.
  • It requires much work on the part of the teacher for planning and carrying out projects.
  • It is more expensive.


The Assignment method is the most common method of teaching especially in the teaching of Economics.

It is an instructional technique comprises the

  • Guided information,
  • Self-learning,
  • Writing skills and
  • Report preparation among the learners


Discussion as a method of teaching economics may be used for the following purposes:

  1. Laying plans for new work
  2. Making a decision concerning future action
  3. Sharing information
  4. Obtaining and gaining respect for various points of view
  5. Clarifying ideas
  6. Inspiring interest
  7. Evaluating progress


This technique calls for an activity in which a deliberate attempt is made to think and speak out freely creatively about all possible approaches and solutions to a given problem, the group participating in a spontaneous and unrestrained discussion which usually involves evaluative feedback.


According to Harold S. Davis, “Team Teaching may be considered to be any form of teaching in which two or more teachers regularly and purposefully share responsibilities for the planning and correlating of lessons to one or more classes of students”.
  • It involves two or more teachers to teach a class.
  • In this type of teaching, a group of teachers is responsible rather than an individual teacher.
  • A team or group of teachers of the same subject work together to deal a significant content to the same group of students jointly.
  • A group of teachers shares responsibilities of planning, organizing, teaching, controlling, and evaluating the same class of students.


In education, a workshop is a brief intensive course, seminar, or a series of meetings emphasizing interaction and exchange of information among a usually small number of participants.


Here the participants present to the audience their views about various aspects of a selected problem or topic through speeches or proper reading.

In the words of Struck, “we think of a symposium as a group of comments, either spoken or written, which portrays contrasting or at least different points of view”, the chief purpose of the symposium is to clarify thought upon controversial questions.


Individualized instruction focuses on the needs of the individual student.


Programmed instruction is a method of presenting the new subject matter to students in carefully designed steps through a sequence of instructional "frames"


Computer-Assisted Instruction refers to instruction or remediation presented on a computer.

Many educational computer programs are available online and from computer stores and textbook companies. They enhance teacher instruction in several ways.



  • Newspaper
  • Magazines
  • Journal
  • Economics Encyclopedias


An audio tape recorder, tape deck, or tape machine is an analog audio storage device that records and plays back sounds, including articulated voices, usually using magnetic tape, either wound on a reel or in a cassette, for storage.


  • Pictures
  • Flashcard
  • Charts
  • Posters
  • Photograph
  • Models


  • Radio
  • Television
  • Internet
  • Multimedia
  • Interactive whiteboard


  • Economics Club
  • Exhibitions and Economics fairs
  • Fieldtrip


“As is the text-book, so is the teaching and learning”.

Textbooks are the most widely used of all instructional materials. Now a day’s textbook has become a course of study. A good text-book can even replace classroom teaching.

The Economics text-book should aim at

  • Aiding the pupils in the development of their personalities,
  • Developing open-mindedness,
  • Developing appreciation and understanding of nature and not merely stuffing their minds with facts


  1. Enthusiastic about teaching students the subject matter.
  2. Ability to be disciplined, to be firm and fair.
  3. Sets an example of integrity inside and outside the classroom.
  4. Plans lessons well in advance.
  5. Stresses concept learning rather than rote memory.
  6. Ability to inspire and motivate students.
  7. Teaches students how to learn, analyze, and think critically.
  8. Keeps up-to-date on the subject matter.
  9. Dedication to the teaching profession.
  10. Creates an exciting classroom atmosphere.
  11. Acquires up-to-date equipment for laboratory work.
  12. Generates new and exciting ideas for students to think about.
  13. Encourages students to ask questions about the lesson.
  14. Takes an interest in and gets involved in community activities.
  15. Continually updates his/her knowledge.

Author Remarks:

PEDAGOGY OF ECONOMICS Is A Subject Taught In B.Ed And In Some Other Teaching Courses Also. On This Page, You Will Find Teaching Of Economics Short Examination Notes And Downloadable Free PDF Book In English Medium For B.Ed First Year And Second Year and Semester 1, 2, 3, 4, 5, and 6. Here We Have Covered Some of The Main Topics and Important MCQ Questions of PEDAGOGY OF ECONOMICS Which Will Really Help in Your Exam Preparation and Also You Can Make Your Assignment Report and File for BEd Very Easily with The Help of These Notes. These Notes and Free PDF Book on Teaching Of Economics Subject Will Be Helpful for All the Students and Teachers of Any College or University. We Have Also Suggested Some of the Best Reference Books and Study Material PDF for PEDAGOGY OF ECONOMICS That you can Also Go Through. Students and Teachers Preparing for All The Teaching Exams Like CTET, TET, UPTET, HTET Can Also Learn With The Notes Provided Above.

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