In recent years, there has been upsurge of interest in the applications of interdisciplinary perspectives on science in science education. Within this framework, the implications of the so-called "economics of science" is virtually an uncharted territory. In this paper, we trace a set of arguments that provide a dialectic engagement with two conflicting agendas: (a) the broadening of science education to include the contextual positioning of science including economical dimensions of science, and (b) the guarding of the proliferation and reinforcement of those aspects of economics of science such as commodification of scientific knowledge that embraces inequity and restricted access to the products of the scientific enterprise. Our aim is broadly to engage, as science education researchers, in the debates in economics of science so as to investigate the reciprocal interactions that might exist with science education. In so doing, we draw out some recommendations whereby the goals of science education might provide as much input into the intellectual debates within philosophy of science on issues related to the commercialisation and commodification of scientific knowledge. We explore some implications of commodification of science in the context of modelling and argumentation in science education.