Tag Archives: economics

Why the world is due a revolution in economics education

Why the world is due a revolution in economics education

Economic thinking governs much of our world. But the discipline’s teaching is stuck in the past. Centred around antiquated 19th-century models built on Newtonian physics, economics treats humans as atomic particles, rather than as social beings. While academic research often manages to transcend this simplicity, undergraduate education does not – and the influence of these simplified ideas is […] … learn more→

Getting out of financialisation: teaching economics and finance differently

Getting out of financialisation: teaching economics and finance differently

Faced with the challenges of ecological transition, social inequality or tax justice, there are many debates about the urgency of integrating these issues in training in finance and economics. Many academics today are protesting against the model of financialization, the obsolescence of theories implying a rationality of the “homo economicus”, while insisting on the role of […] … learn more→

Teach the economy with

Teach the economy with “The Simpsons”

The economy, a matter too abstract? If it permeates their daily lives, from the evolution of prices at the local supermarket to the opening of a bank account, through the search for a summer job, the economy raises many a priori in students. Even in business schools, though frequented by young people interested in principle by the […] … learn more→

The academic economics war

The academic economics war

I know I pick on Women’s Studies often; I have many issues with this particular field of “study,” namely that it isn’t one. There’s another field that sure looks like it should be a legitimate academic topic, which nevertheless bears even more claim to absolute scorn: economics. It isn’t simply because economics departments succumb to […] … learn more→

The way economics is taught needs an overhaul: a South African case study

The way economics is taught needs an overhaul: a South African case study

Economics is a discipline that ought, at its best, to explain the world and its complexities. Unlike physics, it is not an exact science. Due to its nature as a social sciences, lecturers must assist students to understand the complex relationships between companies, governments, consumers and diverse stakeholders. They also need to guide their students […] … learn more→

Higher education pays for itself many times over

Higher education pays for itself many times over

The relative neglect of higher education investment in political debate is a missed opportunity. The economic evidence is that not only does higher education build the economy’s skills and knowledge, but that it pays for itself many times over. On average, university training in Australia has paid a rate of return of around 14-15% according […] … learn more→

Economics: What’s love got to do with it?

Economists understand greed very well; after all, the urge to get rich is our discipline’s main explanation for human actions. Economists further recognise that greed can be good. When our greedy urges are constrained by institutions, so that we compete with each other by means of specialisation in production rather than by killing or cheating […] … learn more→

Fear the no-grow zone: has technological innovation reached its final frontier?

The economic profession lacks a unified theory of economic growth. Textbooks and academic journals contain a plethora of models and paradigms which generate different (and sometimes contradictory) predictions about the mechanics of the growth process. Amid this intellectual confusion, an element in common to the bulk of modern growth models from Solow’s neoclassical growth theory […] … learn more→

Marxism versus the mainstream: rethinking the economic crisis

The current economic crisis has renewed interest in alternative economic ideas. Most conspicuously, Keynesianism has returned from the margins. Unfortunately, particularly in Europe, policymakers quickly abandoned deficit spending programs for austerity and the economic orthodoxy rejected in the Great Depression. Marxism has also enjoyed a modest revival. It remains a more profoundly unacceptable discourse. Amongst […] … learn more→