ELM 6241: Economics of Education and Financial Management

Welcome to ELM 6241: Economics of Education and Financial Management. This module is designed to assist Master's students in Educational Leadership and Management at the University of Rwanda-College of Education to acquire knowledge, skills and attitudes related to economics of education and school financial management. This is because as future school managers, they need skills to be able to effectively and efficiently use scarce resources that have other alternative uses. To this end, it is important that all school leaders have sufficient knowledge of economics of education and of school financial management to be able to understand how these scarce resources can be utilized/distributed effectively and equitably to meet educational objectives. 

Module Learning Outcomes

By the end of this module, you will be able to:

1. Explain how education is an investment or consumption, involving direct and indirect costs

2. Discuss the economic and non economic benefits of education,

3. Describe the contribution of education to national economic growth and development,

4. Demonstrate an understanding of efficiency, equity and wastage in education system,

5. Identify different possible sources of school finance,

6. Explain the nature and functions of budgeting in a school,

7. Develop the budget for the school,

8. Effectively and efficiently manage the school funds and mobilize additional funds for the school,

9. Describe the basic framework and mechanisms of financial management,

10. Explain the reasons and purposes for auditing accounts,

11. Respond to audit queries

Facilitator: Dr. Philothere Ntawiha