Economics 101: An Improved Approach
Modern principles of economics textbooks do an admirable job of teaching students to think like economists, but have unfortunately lagged behind the modern discipline in their inclusion of statistical, data-driven analysis. Many traditional presentations of ideas in principles textbooks would benefit from being revised to include more empirical evidence for their theories, so as to more accurately reflect both the nuances of the theories themselves and the methods used by economists to test those ideas. In particular, textbooks’ treatment of the Phillips Curve, Okun’s Law, Lucas Critique, assumptions of rationality, and both the velocity of money and money creation could benefit from a more data-based approach.
|Date of creation:||09 Feb 2012|
|Contact details of provider:|| Postal: 1520 Saint Olaf Avenue, Northfield, Minnesota 55057|
Web page: http://www.stolaf.edu/depts/economics/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:olf:wpaper:201202. 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: (Anthony D. Becker)
If references are entirely missing, you can add them using this form.