Advanced Search
MyIDEAS: Login to save this article or follow this journal

How Should the Financial Crisis Change How We Teach Economics?

Contents:

Author Info

  • Robert J. Shiller
Registered author(s):

    Abstract

    Student dissatisfaction with teaching of economics—particularly with macroeconomics—during the current financial crisis mirrors dissatisfaction that was expressed during the last big crisis, the Great Depression. Then and now, a good number of students have felt that their lectures bear little relation to the economic crisis raging outside the halls of academe. The economics profession seems unusual, when compared with some other professions, in complaints that the teaching is irrelevant to practical lives. There appear to be few complaints among physics students that their education does not prepare them for practical pursuits, such as engineering. But economics, particularly macroeconomics, is different from physics not because of the mode of teaching but because the subject matter is harder to conceptualize. Models have to be frequently discarded and fundamentally new ones have to be brought to bear to make them relevant to changed circumstances. Student dissatisfaction with economics, however, is, despite some vocal complaints, not intense overall, and enrollments are growing. Students mostly recognize that their teachers are struggling with the conceptual difficulties that are inherent in the field. Teachers can encourage such recognition and best serve their students if they refer regularly and respectfully to the history of economic thought, conveying the reasons for the theoretical constructs of other times and the tentativeness of current theories.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://hdl.handle.net/10.1080/00220485.2010.510409
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal The Journal of Economic Education.

    Volume (Year): 41 (2010)
    Issue (Month): 4 (September)
    Pages: 403-409

    as in new window
    Handle: RePEc:taf:jeduce:v:41:y:2010:i:4:p:403-409

    Contact details of provider:
    Web page: http://www.tandfonline.com/VECE20

    Order Information:
    Web: http://www.tandfonline.com/pricing/journal/VECE20

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Marketa Halova Wolfe & Georg H. Strasser, 2013. "Learning to Argue with Intermediate Macro Theory: A Semester-Long Team Writing Project," Boston College Working Papers in Economics 826, Boston College Department of Economics, revised 23 Apr 2014.
    2. Koutsobinas, Theodore, 2011. "Animal spirits, liquidity-preference and Keynesian behavioural macroeconomics: An intertemporal framework," MPRA Paper 43027, University Library of Munich, Germany.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:41:y:2010:i:4:p:403-409. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.