The Economics of Education as Educational Science

This paper aims to examine the immaturity of the economics of education as an educational science brought about by its focus solely on the individual and social benefits of education. Currently, the economics of education does not demonstrate the capacity to propose solutions to educational problems that are effective, efficient, socially workable and economically viable. As a result, the economics of education will only be considered an educational science when it is able to produce solutions to the ineffectiveness and inefficiency of the systems of education. The paper argues that this could be done through the introduction of pedagogy to educational projects. (C) 2013 The Authors. Published by Elsevier Ltd. Selection and/or peer-review under responsibility of Academic World Education and Research Center.