Teaching-Learning Process in Economics

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Satnam Singh Fri, Mar 18, 2022 09:15 PM UTC

Teaching-learning process in economics

1. Teaching-Learning Process:
Specific to Subject Areas UNIT 9 TEACHING-LEARNING PROCESS IN
ECONOMICS
Structure
9.1 Introduction
9.2 Objectives
9.3 Economics: Nature, Scope and Method
9.3.1 What Economics is about?
9.3.2 What Economists do and how?
9.4 Why Teach Economics? Curricular Objectives in Economics
9.5 Teaching-learning Methods in Economics
9.5.1 Lectures
9.5.2 Discussions
9.5.3 Problem-Based Learning (PBL)
9.5.4 Simulation Games in Economics
9.5.5 Learning Through Concept Maps
9.5.6 Projects
9.5.7 Field visits
9.5.8 Data Analysis and Interpretation
9.5.9 Peer and Collaborative Method
9.5.10 Document Analysis
9.6 Teaching-learning Resources
9.6.1 Textbooks
9.6.2 Supplementary Reading Materials
9.6.3 Charts, Diagrams and Graphics
9.6.4 Newspaper, Radio and Television
9.6.5 Multimedia Materials
9.6.6 Internet
9.7 Let Us Sum Up
9.8 Answers to Check Your Progress
9.9 References and Suggested Readings
9.1 INTRODUCTION
Every human being does some activities which involve some forms of exchange
for survival. Some exchanges involve money and many others do not. When we
buy milk, we use money - currency and coins. It is common among farmers in
India to exchange their labour by working on others’ farms. Economics is a
social science which deals with the study of our society and human behavior
involving a variety of these exchanges. In this unit, you will begin to know
pedagogical dimensions of economics.
9.2 OBJECTIVES
After going through this unit, you will be able to:
• explain the term ‘economics’;

2. • describe the way economists engaged in their profession – their method of inquiry; Teaching-Learning Process
in Economics
• discuss objectives of teaching economics in schools;
• describe different methods required to teach economics; and
• enumerate important sources of economics knowledge.
9.3 ECONOMICS: NATURE, SCOPE AND METHOD
9.3.1 What Economics is About?
Social scientists define the term ‘economics’ in different ways. These definitions
are not only controversial and not accepted by everyone but also keep changing.
This is because economics is a subject which everyone wants to understand his
or her own way. It is also due to complex nature of production and exchange
systems prevalent all over the world. Economics is also the youngest subject
among social sciences and is evolving over the last two and a half century.
Economics has different schools of thought and is deeply rooted in politics. We
have classical, neo-classical, Keynesian, post-Keynesian, Marxian, Austrian,
institutional, evolutionary and feminist schools of thought. Economists, who
deal with the economic aspects, define and use the term, “Economics” based on
the school they support and follow while doing economics.
Suppose you type ‘what is economics’, in Google search engine in the internet
(https://www.google.co.in), the following text appears.
“the branch of knowledge concerned with the production, consumption, and
transfer of wealth.”
American Economic Association, one of the world’s oldest association of
economists provides the following as the definition of economics in their website
“Economics is the study of how people choose to use resources.”
The website also presents definitions of three popular economists.
“Economics is the study of people in the ordinary business of life.”
(Alfred Marshall, Principles of economics; an introductory volume, Macmillan,
London, 1890)
“Economics is the science which studies human behavior as a relationship between
given ends and scarce means which have alternative uses.”
(Lionel Robbins, An Essay on the Nature and Significance of Economic
Science MacMillan, London: 1932)
Economics is the “study of how societies use scarce resources to produce valuable
commodities and distribute them among different people.”
(Paul A. Samuelson, Economics, McGraw-Hill, New York, 1948)
What do you find common in these definitions? Economics is a social science
which means the behavior of human beings in society is studied in this subject.
Four major areas – production, distribution, consumption and exchange of goods
and services form the scope of economics. The economic tools are applied in a
wide variety of situations by economists. Economists are a group of social
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3. Teaching-Learning Process: scientists who study a variety of issues happening in the society. They study
Specific to Subject Areas
different aspects of economics – microeconomics, macroeconomics, fiscal
economics, development economics, international trade, etc. This is similar to
what is happening in other fields. Earlier most of the doctors we used to go for
treatment were General Practitioners - doctors holding only M.B.B.S. degrees.
Now when we go to hospital, we look for specialists – Orthopedics, Pediatricians
and Cardiologists, etc. As more new activities emerge in the economy, the tasks
of economists also become highly specialized. Earlier learning economics required
learning history, logic, philosophy, now economics students study mathematics,
computer programming, psychology, etc.
Check Your Progress 1
Note: a) Write your answers in the space given below.
b) Compare them with those given at the end of the unit.
1) Why is the word ‘scarcity’ emphasized in economics definitions?
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2) Give two examples of transactions involving exchange.
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3) Who are economists?
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9.3.2 What Economists Do and how?
“Economics is what economists do” Jacob Viner, an economist said long ago.
Working as an economist requires certain knowledge and understanding of
economic theories and the functioning of economies. An economic theory is
broadly defined as a “broad statement that embodies a meaningful relationship
between observed economic events.” Economy is a hypothetical space in which
we do works to produce and consume goods and services.

4. We buy vegetables from markets. Why prices of tomatoes, onion and others are Teaching-Learning Process
in Economics
not only different but also change daily? There are hundreds and thousands of
goods and services sold and purchased in India whose prices are determined
differently. How do we understand this? Suppose you produce a new commodity
and wish to sell in the market. How do producers know how much to produce
and at what price? Governments are required to understand the economic activities
in their territories. How do they come to know about the demand, supply and
price levels of commodities and services exchanged in different markets?
Producers of goods and services also wish to predict the demand, supply and
price levels like the way meteorologists forecast weather and rainfall. For this
purpose, economists provide us with the Theory of Consumer Behaviour. This is
an example of an economic model. When models become more popular and
widely used, they become theories.
Every economic theory pertains to the general behaviour of groups and institutions
because they reflect elements common to many specific situations. The economic
theories do not purport to describe the behaviour of specific persons or institutions
but they can frequently predict how a group reacts under a given set of
circumstances. Economic theories also help us understand and make tentative
statements about the behaviour of an economic system or economic events. For
all these, economists use one assumption - ‘other things being equal’, to put it in
popular Latin phrase, ceteris paribus. It is similar to controlled experiments done
by physical and biological scientists.
R.G. Lipsey and K.A.Chrystal, two popular economics textbook authors suggest
that each economic theory is based on certain logic and has specific form whose
structure is built using concepts and assumptions. Learning economics requires
understanding of these basic structures, concepts and assumptions of economic
In recent times, economists use mathematics, statistics and logic to develop
models. One well known economist A.C.Chiang says that building economic
theories mathematically has the following advantages: (i) the ‘language’ used is
more concise and precise; (ii) there exists a wealth of mathematical theorems at
our service (for drawing conclusions on the basis of logical reasoning); (iii) it
forces us to state explicitly all our assumptions as a prerequisite to the use of the
mathematical theorems. This keeps us from the pitfall of an unintentional adoption
of unwanted implicit assumptions; and (iv) it allows us to treat the general and
variable case. However, a few economists all over the world are skeptical of
Chiang’s view.
Not all assumptions are realistic in economics. Yet the models are based on such
assumptions “open door to powerful insights” into the behaviour of the economic
system or economic relationships. For instance, a perfectly competitive market
form does not exist in reality. Yet we should understand its features and
implications as it is the most efficient market structure. A deep understanding of
perfect competition allows us to compare and contrast other market structures
like monopoly, oligopoly, monopolistic competition, etc. in terms of price and
output efficiency.
Economics contains technical terms or jargons. Lipsey suggests that these are
required as “brevity of expression” and are essential as the subject grows and
expands. Let us take a few examples. What is the meaning of the term, “eat”? It
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5. Teaching-Learning Process: is to “put food materials using our hands into mouth, eat and swallow it.” One
Specific to Subject Areas
word, ‘eat’ conveys the intention of 12 words. Technical terms help in
understanding complex nature of economic systems. Words we use in our daily
lives have different meaning in economics. For example, the term, “demand”
may mean “to ask” in common parlance. In economics, it means “a consumer’s
desire and willingness to pay a price for a specific good or service”. When several
ideas are combined in a logical fashion in a model, the use of concepts and
jargons becomes inevitable for precise expression.
Economists study the behaviour of human beings which can neither be controlled
nor be predicted. This also means, we allow for a large element of unpredictability.
Yet, we live in societies in which human beings behave mostly in an orderly
manner. Economists use this orderly behaviour to generalise and predict many
economic aspects and outcomes.
Learning economics requires understanding of economic phenomena -
relationship between various economic aspects of an economy. For this,
economists gather, measure and analyse economic information. Since people’s
economic behaviour frequently manifests itself in measurable ways, the behaviour
is coded and tabulated. They result in tables and large sets of numerical data
which then are interpreted. These activities help to understand the dynamics of a
particular economic phenomenon of the group of households or an enterprise
but also lay the foundations for learning economics.
Economics contain some concepts and propositions about which we have to be
careful while generalising about them. We know that saving is good for us.
However, this is not good for the country as a whole. If all the people save, there
will be shortage of goods and services and the economy will not grow. This is
called ‘Fallacy of composition’. What is good for an individual need not be good
for the whole economy. Similarly we should be careful in generalisation. For
example, when an individual spends more than what she earns, she may go
bankrupt. This does not mean that if the government is spending more than its
revenue, it need not lead to loss. Rather it was proved that there is nothing wrong
if the government spends more for the welfare of the people. This is called ‘False
analogy’. We need to be careful on the sequence or the ‘cause and effect’ of
economic events. Suppose the Government of India reduces taxes to increase
employment and stimulate the economy. This leads to reduction in unemployment
and a rise in the gross domestic product. We cannot conclude that tax reduction
leads to India’s economic recovery. This might have gathered momentum prior
to tax cut and it could have been merely coincidental. We need to look at all the
factors holistically before coming to any conclusion.
Check Your Progress 2
Note: a) Write your answers in the space given below.
b) Compare them with those given at the end of the unit.
4) How do economic theories help to understand society?
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6. Teaching-Learning Process
5) Why are assumptions necessary in economics? in Economics
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6) Write two advantages of using mathematics in economics?
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7) List three important precautions in learning economics.
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9.4 WHY TEACH ECONOMICS: CURRICULAR
OBJECTIVES IN ECONOMICS
Economics is taught in most countries including India from classes 6 to 10 as
part of social sciences. At the higher secondary stage, it is taught as an optional
Indians vote at 18 years, just after completing class 12. Every Indian citizen is
expected to understand the economic life and changes happening around us.
Since Independence, India has undergone tremendous changes on the economic
front. In the initial years, governments, both central and state governments took
initiative to set up large industries, built infrastructure such as roads, hospitals,
schools, run transport services such as railways, airways and bus transport
corporations and supported private sector by protecting them from foreign
competition and ensured their survival and growth. In 1990s, this approach was
changed. Private sector has been allowed to establish large scale industries.
Government began withdrawing from many economic activities. Public sector
companies are being privatized. India has one of the largest systems of private
provisioning of services in the world. Many activities which were not sold earlier
are now available in markets as services. For example, for long, government
provided safe drinking water and now drinking water is sold for billions of rupees.
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7. Teaching-Learning Process: Scholars working in various fields and education policy documents provide the
Specific to Subject Areas
rationale for teaching various subjects in schools. For example, the National
Curriculum Framework (NCF) 2005 brought out by the NCERT lists the following
as the objectives of teaching economics for classes 9 and 10.
• To enable students to trace the chain of activities in which human beings are
involved to make a living.
• To help students to understand the normative nature of economics and the
role of economic policies in our lives.
• To enable students to know that economic problems can be and should be
viewed from different perspectives.
• To equip the students in acquiring analytical skills and develop perspectives.
• To sensitise students from gender perspective.
In classes 11 and 12 students learn economics as an optional subject. Students
are exposed to topics from microeconomics, macroeconomics, development
economics and international trade, economic issues of India and states. The
following are the objectives of teaching economics at this level.
• To help students understand some basic economic concepts and develop
economic reasoning which they can apply in their day-to-day life as citizens,
workers and consumers.
• To help students realise their role in nation building and sensitise them to
the economic issues that the nation is facing today.
• To equip students with basic tools of economics and statistics to analyse
economic issues.
• To develop an understanding so that they can present more than one view
on any economic issue and argue logically with reasoning.
Many international boards offer economics courses in Indian schools. International
Baccalaureate, for example, offers Diploma Programme in Economics equivalent
to that of Indian higher secondary stage. It lists the following as the objectives of
teaching economics.
• To encourage the systematic and critical study of human experience and
behaviour; physical, economic and social environments; and the economics
and development of social and cultural institutions
• To develop the capacity to identify, analyse critically and evaluate theories,
concepts and arguments about the nature and activities of the individual
and society
• To enable students to collect, describe and analyse data used in studies of
society; test hypotheses; and interpret complex data and source material
• To promote an appreciation of the way learning is relevant to both the culture
in which the student lives and the culture of other societies
• To develop an awareness that human attitudes and beliefs are widely diverse
and that the study of society requires an appreciation of such diversity
• To enable students to recognize that the content and methodologies of
economics are contestable and that their study requires the toleration of
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8. The economics syllabus and textbook contents are based on these curricular Teaching-Learning Process
in Economics
goals. Teachers are expected to use curricular materials to help students realize
these goals. For example, while teaching topics such as poverty, we need to help
students use scientific methods to understand poverty, to critically examine the
steps taken by the government to reduce poverty levels in the economy and to
develop empathy with the poor. While developing the teaching plan, these
objectives need to be stated both implicitly and explicitly.
Check Your Progress 3
Note: a) Write your answers in the space given below.
b) Compare them with those given at the end of the unit.
8) Why are objectives of teaching economics necessary?
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9) What are the differences between objectives of teaching economics of
NCF 2005 and those of IB?
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10) The following table contains a list of topics in economics syllabus and
curricular objectives. Match the topics with objectives. One objective
can be considered for more than one topic as well.
Topic Curricular objectives
1) Food security A) Understand economic policies
2) Privatisation B) Understand basic economic concepts
3) Three Sectors of C) Understand various perspectives
Indian economy
4) Gross Domestic Product D) Equip with basic tools of economics
5) Consumer Rights E) Equip with basic tools of statistics
6) Poverty F) Develop analytical skills
7) Factors of Production G) Understand India’s challenges
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9. Teaching-Learning Process:
Specific to Subject Areas 9.5 TEACHING LEARNING METHODS IN
ECONOMICS
Economics gives scope for teachers to bring in a variety of examples from our
daily lives. Different approaches can be followed to teach economics topics.
9.5.1 Lectures
“Some people talk in their sleep. Lecturers talk while people sleep” said Albert
Camus. Lecture, though criticised all over the world, is the predominant method
teachers use to teach economics. Lectures are used to communicate a set of
information to a particular group of audience. Teachers planning to deliver a
lecture generally come with a set of notes – detailed or hints. This also means
that teachers have to read the prescribed textbooks, refer to other materials, and
takedown notes by prioritizing information – write them down one followed by
the other using our own reasoning, what is to be spoken under each topic and
sub-topic.
In colleges and universities, teachers take long time to deliver lectures. Teachers
in schools have 35-45 minutes to deliver their lectures. Lecture method in schools
mean teachers’ talk time is more than that of students. To avoid monotony during
economics lectures, teachers encourage students to ask questions, bring newspaper
clippings, reports, etc. other than textbooks to the classroom. These days, teachers
use power-point presentations to deliver the lectures. PPT-based lectures save
considerable time required for writing on the blackboard. Smart boards are also
used to deliver lectures effectively. Students’ attention move between what is
shown in the blackboard, LCD screen and teacher’s voice. Students also get a
considerable amount of diversion in the PPT based lectures.
Two limitations of lectures are: (a) the teacher may not be able to give individual
attention to students and (b) when lectures are long, students find difficult to pay
attention to tectures.
9.5.2 Discussion
The National Curriculum Framework (2005) suggests that we need to connect
textbook knowledge and syllabus with life outside classrooms and schools.
Discussion is one important method to achieve the NCF 2005 goals. Many
economics topics provide scope for students to share their lived experiences
during discussion.
Discussion helps students to examine their own assumptions and knowledge
critically. Teachers conducting discussion focus on students’ reasoning; point
out common errors in the reasoning; and help them recognize simple and high-
level reasoning. When considerable amount of issues are to be discussed by
students, teachers identify students who can contribute with more details first
and acknowledge them in the class rather than encouraging all students to speak.
When students monopolise the discussion, teacher intervenes.
If the number of students is large in the class, teachers pair up them to discuss a
question for five minutes and then bring them back for a whole-class discussion.
This leads to each student’s participation and exposure to other students’ ideas.
Some teachers also form two students groups for first discussion round and rotated

10. partners for every new problem or example. Another variant of this method is to Teaching-Learning Process
in Economics
use pyramid structure; in the first round two-students groups are formed; then
four-student groups are formed to discuss the same issue and followed by eight-
student groups. This can be done all the way up to the whole-class discussion.
This format is useful if the topic has many levels of discussion. Generally more
complex issues are discussed in small groups. In the whole-class groups, students
can discuss their reactions, share their new ideas and build on each other’s views
expressed during discussion.
In the whole class discussions, when students make a claim, teachers ask the
evidence or logic and ask the whole class to evaluate it. They talk a little and
encourage students who disagree to identify the source of disagreement. Teachers
encourage students to talk to each other. They neither contribute on their own,
nor take a stand. At times they encourage students to participate in the discussion.
Adolescent learners are at times emotionally charged while discussing an issue.
If the teacher finds the discussion not manageable or unproductive, he/she needs
to intervene. If it turns into a personal attack, the teacher can refocus the class
and convert the discussion to reflect on the incident as a writing assignment.
9.5.3 Problem-based Learning (PBL)
In problem-based learning, economics teachers pose a problem to each group of
students and facilitate them to find solutions. This was initially used in medical,
healthcare and education sectors during 1960s and now widely used in other
subject areas. The solutions students come out with and all the procedures they
follow become part of their learning.
It should be noted that economic issues at the national level are not that simple
to be solved by school students. Even for an individual, it may be challenging to
find solutions. For example, a student finds her family having a very low income.
She cannot easily find solutions to the family’s income needs as that requires
parents to take up jobs with high income which may not be easy. Analyzing the
problem and trying to understand its causes and consequences are more than
sufficient. The PBL classrooms provide students opportunities to research a variety
of materials; develop appropriate lines of enquiry so that they could come out
with solutions. In this process, students come to know complexities involved in
finding solutions, the need for understanding socio-historical, political and
geographical issues. This approach is useful for courses on economic issues and
not suitable for teaching theories.
9.5.4 Simulation Games in Economics
Simulation games bring students and teachers to understand economic theories
using reality-show like situations. In simulation games, the students are involved
as players and participate in the game actively. This require certain structural
features – space to play, rules to be followed, materials to play the game, players,
and so on. There could be some winners and losers in the game as well.
Simulation games are played to help students understand economic concepts.
Economic concepts deal with a variety of economic activities performed by
individuals or group of individuals. Economists evolve games simulating the
reality situations. Game designers suggest the following steps to engage in a
game. 81

11. Teaching-Learning Process: i) Formulate learning objectives – which economic concept to be learned could
Specific to Subject Areas
be clearly recognised. In some games, more than one concept is involved.
They also need to be listed.
ii) Plan the game which involves formulation of rules, formation of groups,
number of students in each group, roles of individuals in each group, material
required and arrangement of furniture etc.
iii) Role of teacher– though economics games do not usually require umpires
like in physical games, teacher has to organise the whole game –plan in
advance, estimate the time required, procure materials required, assign roles
to each individual participating in the game, explain the rules to the players,
write down the outcomes or results, intervene if there is any clarity required.
iv) Debriefing is generally done after the game is played. The teacher can then
bring back students to the learning objectives and pose questions on the
concept.
Internet contains many games and some of these games are also played online.
These days simulation games such as MONOPOLY are also played by young
children. Teachers can identify the game and modify depending upon the concept
to be taught.
9.5.5 Learning through Concept Maps
We are generally interdependent. Social science concepts are required to
understand the society in which we live. The relationship between concepts may
be of different types. Concept maps help in organizing and depicting these
relationships in the form of diagrams. In concept maps, concepts are enclosed in
circles or boxes and the relationship between concepts are indicated by connecting
line or cross link line. Words are specified on the connecting lines or cross link
to describe the nature of relationships. Concept maps are represented in a
hierarchical fashion with most inclusive general concepts at the top part of the
map. The order of the hierarchy
depends on the nature of relationship
required to answer the question.
Look at the following concept map
pertaining to a topic, National Income
Accounting, in class 12.
The first requirement of a concept map
is to develop question. This is followed
by the identification and listing of
concepts required to answer the focus
question. While discussing the
concept, students, by providing
examples from real life and in textbook
contents, suggest many more
relationships between various concepts
given in the concept maps. This helps
them understand economic concepts
better.

12. 9.5.6 Projects Teaching-Learning Process
in Economics
Economics gives considerable scope for assigning project activities to students.
Project work requires in-depth investigation by the students under subject teachers’
supervision. It helps student in many ways even after completing the schools.
Students study different topics in textbooks as part of the syllabus. Project work
train students to learn to work on a particular economic question or issue they
are interested in. They are required to think like an economist and do research –
develop questions and questionnaire, collect and analyse data and investigate
the particular economic question. Projects encourage students to learn to think
critically. Projects give opportunity to apply skills they learn different subjects
including mathematics and languages. Project works also help students to learn
skills from outside classroom – using computers, talking to people to collect
data and negotiate with team members. Teacher supervision on a continuous
basis helps to acquire research skills. Students also develop communication and
presentational skills which are beyond traditional examination system.
9.5.7 Field Visits
Economics teachers encourage field visits for different purposes as part of school
curriculum. Topics such as banking, employment, agriculture, markets can be
taught better using field visit. Field visits are also conducted to collect data from
outside the school – households, shops, and other establishments. Field visits
help students to understand how economic activities are performed.
9.5.8 Data Analysis and Interpretation
Questions arise in economics are understood and solved on the basis of data
collected from households and firms. Look at Table 1. Data of this kind form the
core of economics.
Table 9.1: Key Indicators of Indian economy
Indicator 2012-13 2013-14 2014-15 2015-16
GDP Growth (%) 5.6 6.6 7.2 7.6
Growth of electricity Generation (%) 4.0 6.0 8.4 4.4
Fiscal Deficit as a % of GDP 4.9 4.5 4.0 3.9
Export Growth (%) -1.8 4.7 -1.3 17.6
Export Growth (%) 0.3 -8.3 -0.5 -15.5
Source: Economic Survey 2015-16, vol.2, Government of India, p.2.
Economics students are expected to understand how this kind of data is collected
and what this data depict about the economic development. Economic data are
of different kinds – cross sectional data, time series data, qualitative and
quantitative and so on. Data analyses include use of statistical tools to understand
and arrive at conclusions about economic aspects. Data analysis helps students
in understanding the economic phenomenon given in the form of numbers,
summarises the data, identifies and establishes relationship between different
economic aspects, compares various economic variables. While teaching
economics teachers use a variety of economic data, analyse them and interpret
the findings.
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13. Teaching-Learning Process: 9.5.9 Peer and collaborative methods
Specific to Subject Areas
In these methods, students are given more autonomy to learn economics. These
methods view that knowledge is social construct and teachers help students to
bring out knowledge from themselves. In collaborative learning method, students
in small groups discuss concepts pertaining to a particular economic issue and
find solutions or develop understanding. Peer learning, one form of collaborative
learning method, requires student of similar age and grade work with other
students in understanding of concepts.
9.5.10 Document analysis
Though this activity is predominantly used in subjects such as history, in recent
times students are expected take up this activity to explore official documents
such as Economic Survey, Census of India, Human Development Report, and
Budget Reports and so on. Many of these reports are published annually.
Economics students get the first person insight into economic data in these reports.
Check Your Progress 4
Note: a) Write your answers in the space given below.
b) Compare them with those given at the end of the unit.
11) How are lectures different from discussions?
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12) The table contains few economics topics. Fill up the appropriate method
you will use to teach these topics?
Sl. No. Topic Method
1 Theory of Demand
2 Estimation of GDP
3 Index Numbers
4. Measurement of Poverty
5 Globalisation
6 Consumer rights
13) Field visits are useful only for subjects such as history. Do you agree
with this statement? Explain.
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14. Teaching-Learning Process
9.6 TEACHING LEARNING RESOURCES in Economics
9.6.1 Textbooks
Textbooks are the major source of teaching-learning material for a majority of
students and teachers in India. Economics textbooks are different from other
subject textbooks. They provide learners basic understanding of concepts.
Textbooks are different from guidebooks which provide only answers to questions.
Textbook contents are organised and presented keeping in view of the subject
requirements, learners’ age, grade and cognitive obilities. Textbooks
recommended by examination boards or written by government agencies are
used as benchmark for examination purposes. Questions in Board examinations
and answers by examinees are verified on the basis of what is given in textbooks.
Textbooks work as benchmark for teachers. For example, the economics syllabus
may include topic ‘development’, but millions of pages have been written on
this topic and available for teachers. A textbook chapter with 15-20 pages on the
topic help teachers how much to be taught.
9.6.2 Supplementary Reading Materials
Economics textbooks may contain topics from different areas. Any economics
textbook, covering a large number of theories and topics, can provide only basic
framework for understanding a limited number of concepts or topics.
Supplementary reading materials help students and teachers who wish to know
more about the topics. Books published by government agencies such as National
Book Trust (NBT), New Delhi and other private publishers are some examples
(See also Suggested Readings).
9.6.3 Charts, Diagrams and Graphics
Economic statistics is one of the major source of learning economics. They are
mainly available in the form of large tables. Since students can understand any
content in the form of visuals much better than the tables containing so many
numbers, economics teachers using knowledge of statistics convert these into
different charts. Look at the Figure 9.1.
Figure 9.1: Key Indicators of Indian Economy, 2012-16
85

15. Teaching-Learning Process: You will notice that charts help not only to know the data but also help to interpret
Specific to Subject Areas
the data. In order to present economic information to learners, computer software
is used to develop this kind of charts which form of part of graphics.
9.6.4 Newspaper, Radio and Television
Economic information on economic activities of governments and private
organisation are mainly available in newspapers, radio and television. For
example, when union government plans and presents budgets every year, all the
media widely cover the details of priorities of government and its economic
policies. Media also report the performance of various private companies as
people have invested their savings in stock markets. Teachers by guiding students
to read, watch and collect the economic information and connect textbook
concepts with in real life economics.
9.6.5 Multimedia materials
For a very long time, cinema and media were the major source of additional
information for students. The revolution in the information and communication
technologies led many government and private organisations coming out with
CDs, DVDs on specific economics contents. For example, the Central Institute
of Educational Technology, New Delhi brings out such multimedia materials for
use in classroom. Individual media houses also publish multimedia materials.
9.6.6 Internet
It may not be over-exaggeration if one says that almost all the global knowledge
for learning economics is available in internet. Important writings of economists
during the last 250 years are available in digital form. Most textbooks are now
published as hard and soft copies. Internet has become a major source of learning
economics. Internet not only contains text materials but also multimedia materials,
lectures and talks by economists. All the economic policy documents are available
in the internet. Statistics and reports of government agencies are available in the
internet. Most private companies provide their details in the internet. In fact,
economics teachers role become crucial to help students recognize authentic
knowledge available in the internet.
Check Your Progress 5
Note: a) Write your answers in the space given below.
b) Compare them with those given at the end of the unit.
14) Why are textbooks important?
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16. Teaching-Learning Process
15) How are textbooks different from media? in Economics
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16) List three reasons for watching television to learn economics.
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17) Distinguish between supplementary reading materials and textbooks.
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9.7 LET US SUM UP
Economics is defined by economists in different ways depending upon their
belief systems. Important aspects in-built in these definitions are production,
consumption, distribution, and exchange. Learning economics require careful
reading of various economic models. These models are based on a few
assumptions and built using mathematics. Teachers need to be careful of three
aspects in economics viz., false analogy, fallacy of composition and cause and
effect relationship between economic aspects. The curricular objectives are closely
related to national goals of India and global citizenship. Teachers depending
upon the topic can choose teaching methods. Since economics is dealing with
many aspects of our daily life, media, besides other teaching learning materials
can improve our understanding of economics.
9.8 SUGGESTED REFERENCES AND READINGS
• Bhaduri. Amit, (2010). Development with Dignity, New Delhi: National Book
Trust.
• C. Modgal, Suresh (2014). Food Security in India, New Delhi: National
Book Trust.
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17. Teaching-Learning Process: • Dey. Wikhil, Dreze. Jean, Khera. Reetika, (2008). Employment Guarantee
Specific to Subject Areas
Act: A Primer, New Delhi: National Book Trust.
• Gregory Mankiw (2011). Principles of Economics, Sixth Edition, Cengage
Learning.
• NCERT (2006). Economics, Social Science Textbook for class 9, New Delhi:
National Council of Educational Research and Training.
• NCERT (2006). Understanding Economic Development, Social Science
Textbook for class 10, New Delhi: National Council of Educational Research
and Training.
• Paul Samuelson and Willium Nordhus (2009). Economics, 19th Edition,
Mc-Graw Hill Education.
• Business Newspapers
• Business Magazines
Economic and Political Weekly
• Business Television Channels
• Websites
www.india.budget.nic.in
www.nitiaayog.gov.in
http://nroer.gov.in
https://ideas.repec.org/
https://ruralindiaonline.org/
http://www.econlib.org
www.economicsnetwork.uk
http://serc.carleton.edu/econ/index.html
http://www.tutor2u.net
9.9 ANSWERS TO THE CHECK YOUR PROGRESS
1) Resources required for production of goods and services are not plenty.
2) (a) labourers working on others’ fields for remuneration; (b) buying pen and
pencils in a stationary shop by making payment
3) Social scientists who study about production, distribution, consumption and
exchange using models and theories.
4) Economic theories help to understand relationship among various economic
events and factors operating in the society.
5) Assumptions are conditions for understanding the functioning of set of
economic factors. They help in recognizing set of behaviours of economic
systems among others.
6) (a) language used is more precise and concise; (b) helps in drawing
conclusions based on logical reasoning.
7) (a) false analogy; (b) fallacy of composition; (c) recognize the cause and
effect relationship among economic events.

18. 8) They work as national goals every country wish to achieve. Objectives are Teaching-Learning Process
in Economics
also required to develop syllabus and textbooks and organize curricular
activities.
9) NCF 2005 objectives discuss mainly the national development goals whereas
IB objectives intend to develop global citizenship and learning to live within
the nation as well.
10) 1- A & G; 2 – A & C; 3-B & F; 4 – B; 5 – C & G; 6 – A & G; 7 – B & F
11) Lectures involve teaching to talk more whereas in discussions, teachers
facilitate students to share their views.
12) 1& 2 - Lectures; 3 – Lectures and discussion; 4 – Problem based learning
and projects; 5 – Discussion; 6 – Problem based learning and projects
13) No. Economics also provides students scope to observe economic aspects
at workplace, banks, factories, shops and other places. Students can talk to
people engaged in various economic activities to understand economic life.
14) Textbook contents work as benchmark knowledge for teachers. Examinations
are based on textbook contents.
15) Textbooks provide basic idea about concepts pertaining to a specific subject
area. Knowledge acquired through media supplement the basic knowledge
introduced through textbooks.
16) (a) increase our economic understanding; (b) update of what is happening
in economic front; (c) develop sensitivity towards economic issues
17) Textbooks provide only basic idea of specific concept or economic issue.
Supplementary reading materials increase our understanding of those basic
issues studied in textbooks as part of classroom learning activity.
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19.

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