CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Economics we all know deals with the human behaviour which can further be explained as the way we earn our living and make choices to satisfy our needs. It thereforeconcentrates on the research of organizations and the government whose day to day transactions are focused on the production of goods and services in other to satisfy of human needs since economics is has to do with human behavior. Budhwar (2002).Economics is a social science, just like other science subjects, the procedures or the way things are done in economics is methodological, its analysis is done according to a system, and the validity of its diverse theories can be tested. For this reason,effort has been made to introduce and implement the theoretical basis or aspects of the course with their practical implementations. Economics education is one of the courses that introduces students the major facets of live, equips them on few ethics required for successful work with people and organizations, Budhwar 2012. This course has been introduced by the Comparative Education studyto satisfy the needs of Economics in the new system.
Economics education is also known as the study that has to do with economic issues in relation to education. Based on the previous works on correlation between schooling and labor market outcomes for individuals, the area of economics education has grown tremendously to cover all facets with loop holes of education Armstrong 2011.The main reason for the introduction of this course is satisfy the cravings of fortifying students with the basic knowledge and skills that will help them to sincerely welcome the nature of economic challenges in any society. In the light of this ideology, below are the specificaims for the Economics education course; a)Economics education was introduced in schools curriculum to fortify students with the major principles of Economics that is required for successful living and for higher education, b) To equip and reinforce students to be wise, judgmatical and productive in the management of scarce resources, c) To encourage students high respect for the seriousness, worthy of labour and their appreciation of economic, cultural and social ethics of our society and d) To help students gain knowledge for the immediateanswer to the economic challenges of the society; and the world at large. The importance of economics education to any nation is very vivid and cannot be ignored. It permits leaders and citizens to understand root and branches of economics concepts, principles and also to understand, appreciate and desire to grow the economic situation for their own social good. A good understanding of economics is a must have for good citizenship.
Thecollection, accretion of human capital development strategies is a vital contributor to effective teachers’ performance in economics education, specifically in Imo state.
Human capital is a phrase that economists introducedwhich has to do with the productive skills and technical knowledge of workers, staffs, teachers, employees, etc. It compriseshuman knowledge, skills, and abilities, values and drives they need to add to their skills to the organization’s goals, Dessler 2012. Economists and business people call these set of people characteristics “human capital” just to point out the importance of employee skills and strengths and the importance for organizations to invest in their people, just as they do in physical capital, in order to be successful. In this era of knowledge economy, human capital has become extremelyvital than physical capital when it comes to adding value.
In education, human capital development strategies are most likely to be even more vital to teacher’s performance. Education is a human-capital-intensive enterprise, with around 80 percent of most school divisions budgets spent on staff salaries and incentives. Most of the key methods of learning are controlled and impacted by the staff those teachers that communicate with the students on daily bases.