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What Kind of Economists Do We Want? From a One-Track to a Two-Track Mind

Author

Listed:
  • Henrekson, Magnus

    (Research Institute of Industrial Economics (IFN))

  • Jonung, Lars

    (Department of Economics, Lund University)

  • Lundahl, Mats

    (Development Economics, Stockholm School of Economics)

Abstract

We explore the challenges facing the current academic training of economists in small European countries like Sweden. The monolithic focus on publishing in the top-five journals, which prioritizes methodological rigor over problem-driven research, is often a threat to social relevance and policy applicability. This limits pluralism, excludes many talented economists, and fails to prepare graduates for non-academic positions. We propose a two-track model for PhD training and academic evaluation, emphasizing both traditional research and applied economic policy, tailored to the diverse needs of academia, public administration and business sectors. We also argue for broader evaluation criteria, enhanced interdisciplinary collaboration, and institutional reforms, including trial lectures and specialized research institutes. By diversifying incentives, we recommend a shift towards socially relevant and more inclusive education and practice in the discipline of economics.

Suggested Citation

  • Henrekson, Magnus & Jonung, Lars & Lundahl, Mats, 2025. "What Kind of Economists Do We Want? From a One-Track to a Two-Track Mind," Working Paper Series 1530, Research Institute of Industrial Economics.
    • Handle: RePEc:hhs:iuiwop:1530
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    References listed on IDEAS

    as
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    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion

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