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Principles of economics textbooks: lessons to be learned in light of the financial crisis

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  • Poul Thøis Madsen

Abstract

Has the financial crisis already changed US principles of economics textbooks? Rather little has changed in individual textbooks, but taken as a whole ten of the best-selling textbooks suggest rather encompassing changes of core curriculum. A critical analysis of these changes shows how individual textbooks could become even better at grasping the financial crisis than the textbooks are now as a collective. This would require a development of curriculum incorporating theoretical and historical dimensions of the financial crisis and a more pluralistic attitude by integrating conflicting interpretations of the financial crisis and its causes, remedies, and possible consequences.

Suggested Citation

  • Poul Thøis Madsen, 2012. "Principles of economics textbooks: lessons to be learned in light of the financial crisis," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 3(3), pages 240-251.
    • Handle: RePEc:ids:ijplur:v:3:y:2012:i:3:p:240-251
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