MERU UNIVERSITY OF SCIENCE AND TECHNOLOGY
P.O. Box 972-60200 – Meru-Kenya.
Tel: +254(0) 799 529 958, +254(0) 799 529 959, +254 (0)712 524 293
Website: www.must.ac.ke Email:
UNIVERSITY EXAMINATIONS 2021/2022
FOURTH YEAR, FIRST SEMESTER EXAMINATION FOR DEGREE OF BACHELOR
OF EDUCATION SCIENCE, BACHELOR OF EDUCATION ARTS, BACHELOR OF
SCIENCE IN AGRICULTURAL EDUCATION AND EXTENSION AND BACHELOR OF
SCIENCE IN ECONOMICS
EMP 3401: ECONOMICS OF EDUCATION
DATE: OCTOBER 2022 TIME: 2 HOURS
INSTRUCTIONS: Answer Question ONE and any other TWO questions.
QUESTION ONE (30 MARKS)
a) Explain the following concepts as applied in economics of education. (5 Marks)
i. Opportunity Cost
ii. Earnings Foregone
iii. Externalities
iv. Human capital
v. Consumption and investment in Education
b) There has been a dire shortage of educational resources in developing countries around
the world. Suggest 5 policy strategies by which this problem can be solved (5 Marks)
c) Explain any five factors influencing private demand for education in third world countries
(5 Marks)
d) Explain how income level disparities influence equity in education in Kenya. (5 Marks)
e) Briefly explain five causes of increased wastage in public education in developing nations
around the world. (5 Marks)
f) Describe five interventions currently being undertaken by the Kenyan government to
enhance supply of education in the country. (5 Marks)
Meru University of Science & Technology is ISO 9001:2015 Certified
Foundation of Innovations Page 1
P.O. Box 972-60200 – Meru-Kenya.
Tel: +254(0) 799 529 958, +254(0) 799 529 959, +254 (0)712 524 293
Website: www.must.ac.ke Email:
UNIVERSITY EXAMINATIONS 2021/2022
FOURTH YEAR, FIRST SEMESTER EXAMINATION FOR DEGREE OF BACHELOR
OF EDUCATION SCIENCE, BACHELOR OF EDUCATION ARTS, BACHELOR OF
SCIENCE IN AGRICULTURAL EDUCATION AND EXTENSION AND BACHELOR OF
SCIENCE IN ECONOMICS
EMP 3401: ECONOMICS OF EDUCATION
DATE: OCTOBER 2022 TIME: 2 HOURS
INSTRUCTIONS: Answer Question ONE and any other TWO questions.
QUESTION ONE (30 MARKS)
a) Explain the following concepts as applied in economics of education. (5 Marks)
i. Opportunity Cost
ii. Earnings Foregone
iii. Externalities
iv. Human capital
v. Consumption and investment in Education
b) There has been a dire shortage of educational resources in developing countries around
the world. Suggest 5 policy strategies by which this problem can be solved (5 Marks)
c) Explain any five factors influencing private demand for education in third world countries
(5 Marks)
d) Explain how income level disparities influence equity in education in Kenya. (5 Marks)
e) Briefly explain five causes of increased wastage in public education in developing nations
around the world. (5 Marks)
f) Describe five interventions currently being undertaken by the Kenyan government to
enhance supply of education in the country. (5 Marks)
Meru University of Science & Technology is ISO 9001:2015 Certified
Foundation of Innovations Page 1
