Definitions of terms
Term Definition
A deliberate and organized process of acquiring knowledge, skills,
values, and attitudes aimed at developing individuals and
Education
improving society. It occurs through formal schooling as well as
informal and non-formal settings.
A systematic process of setting goals, determining priorities, and
Planning outlining strategies and resources needed to achieve those goals
efficiently and effectively.
The application of planning principles to the education sector to
Educational Planning ensure rational use of resources, improve quality, expand access,
and align education with national development goals.
The social science concerned with the production, distribution, and
Economics consumption of goods and services, and the choices individuals,
firms, and governments make to allocate scarce resources.
A branch of economics that studies how education influences
Economics of Education
economic outcomes, focusing on costs, benefits, demand, supply,
(Educational
and the overall role of education in economic growth and
Economics)
development.
The system through which a society organizes and manages the
Economy
production, distribution, and consumption of goods and services.
The structure and methods a society uses to allocate resources and
Economic System distribute goods and services (e.g., capitalist, socialist, or mixed
systems).
An increase in a country’s production of goods and services over
Economic Growth
time, usually measured by Gross Domestic Product (GDP).
The process through which a nation improves the well-being of its
Economic Development people through sustained economic growth, improved living
standards, and equitable distribution of resources.
The collective skills, knowledge, experience, and abilities
Human Capital possessed by individuals that enhance their productivity and
contribute to economic growth.
The portion of the population that is able and willing to work,
Labour Force including both those employed and those actively seeking
employment.
The measure of efficiency with which inputs (like labor, capital,
Productivity
and materials) are converted into outputs in the economy.
The allocation of resources (money, time, effort) to education with
Investment in
the expectation of future returns in the form of higher productivity,
Education
income, and social benefits.
The set of rules, regulations, and decisions formulated by
Educational Policy government or educational authorities to guide the operation and
development of the education system.
Educational The process of organizing, managing, and directing the operations
Administration of educational institutions and systems to achieve set objectives.
