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Politics, geography, sociology, mathematics, engineering, psychology, medicine, law, and business are just a few of the numerous disciplines that economics touches upon. Economic theory focuses on how best to use scarce resources to advance individual and societal objectives. The central concerns of economics include production and employment, health, money and the banking system, investment and savings, government policies on the taxation and spending, industrial organization and regulation, international trade, environmental issues, urbanization. and legal matters (including the design and the enforcement of the property rights). The field of economics equips us with the analytical tools a...
1.1 Introduction The modern world, mainly dominated by rapid growth of science and technological innovations is, no doubt, moving towards material world. Technological developments and innovations have made human life materialistic, mechanical, conditioned and controlled. Therefore, a constructivist and progressive approach with broaden horizon may be the only remedy to uplift mankind from its present situation. Education is the only way and means to relate to the whole world, to experience, to understand and attempt to change the perceptions of the world. Education works as the spinal cord for the development of a nation. A nation can be a developed one only if it has strong, comprehensive ...