Treasury workshop on economics curriculum reform

Tweets from the Institute for New Economic Thinking (INET) COREecon project workshop at HM Treasury. See

  1. 'Teaching economics as if the last three decades had happened' - @INETeconomics workshop @hmtreasury Monday 11 Nov @inetcoreteam #COREecon
  2. "Teaching economics as if the last three decades had happened" #COREecon workshop at @hmtreasury on Monday
    "Teaching economics as if the last three decades had happened" #COREecon workshop at @hmtreasury on Monday
  3. Off via a breakfast meeting to #COREecon launch workshop - going to be an excellent day
  4. Economics lecturers accused of clinging to pre-crash fallacies - @phillipinman on Michael Joffe and #COREecon event:
  5. Launches today: our project to reform the undergraduate syllabus #COREecon
  6. 'Teaching economics as if the last three decades had happened' - #COREecon workshop getting underway now @hmtreasury:
  7. First #COREecon panel under way with Dave Ramsden, @kaletsky, Wendy Carlin, Camila Cea
  8. Are economics graduates fit for purpose? Reminder of 2012 @voxeu column by @diane1859 #COREecon:
  9. Wendy Carlin: Don’t leave teaching instability, frictions, rents, limited information, distribution to chapter 39 of Econ texts #COREecon
  10. Carlin: New Econ curriculum not about experts in London and Oxford – it’s about gathering a community from whole world #COREecon
  11. W Carlin speaking at #COREecon meeting: Existing curriculum resistant to what economists actually know
  12. How shd macroeconomics be taught to undergrads in the post-crisis era? Wendy Carlin's 2012 @voxeu column #COREecon:
  13. #COREecon Carlin: Students not given sense of econ as exciting discipline capable of progress
  14. #COREecon Carlin: Disenchantment with menu puts students off before they can see what is happening at frontier
  15. #COREecon Carlin: Need for more unified approach between micro and macro, teaching covering frictions, rents, mult eqba, mkt success/failure
  16. #COREecon Carlin: Distributional qns belong in syllabus not just later but at very beginning
  17. #COREecon Carlin: Need for historical view, teaching emergence of economy including emergence of econ ideas
  18. #COREecon Carlin: Curriculum has to be genuinely progressive, not just a sequence of one topic after another
  19. Put problems like ‘what do we do about Wonga’ in front of econ students – that’s interesting, says @TimHarford #COREecon
  20. Bob Allen Some economists disparage economic history but the stories are important - esp for students. #COREecon
  21. Bob Allen: Much of what we teach in econ is how to answer questions – teaching how to ask them is important #COREecon
  22. Why economics needs economic history - #COREecon discussion by Bob Allen - here's Kevin O'Rourke @voxeu:
  23. Allen: teaching econ history teaches how to succeed at problem-solving jobs, with numerical analysis #COREecon
  24. #COREecon Bob Allen now arguing for greater role for econ history in undergrad econ curriculum
  25. #COREecon Allen: Remember that students are fundamentally interested in understanding the economy more than understanding econ analysis
  26. #COREecon Allen: Need to teach students to ask right qns as much as to teach them answers that follow from econ models
  27. Econ profession has been asleep at switch when comes to climate issues: @JulietSchor #COREecon
  28. Econ history teaches you how to interpret and respond to the messiness of the world - Bob Allen at #COREecon
  29. #COREecon Allen: Football analogy — conventional economists like offensive players, try to implement plans based on theory; …
  30. #COREecon Allen: … econ historians like defensive players, have to cope with messy reality; both types needed
  31. Juliet Schor of Boston College at #COREecon - stop teaching economics as if what happens to the environment is a matter of consumer choice
  32. #COREecon Juliet Schor: Econ took wrong turn when deciding to neglect consumer interdepce, shd replace homo economicus with homo socialis
  33. Can economists stop teaching things they know to be false?! Michael Joffe at #COREecon and in @EJ_RES newsletter:
  34. We’re calling for a less abstract application with richer examples - problem - is there time to teach it? , says @TimHarford #COREecon
  35. Question from Marian Bell at #COREecon - why has the Econ curriculum become so narrow? Need to understand the pressures to achieve change
  36. Tim Harford at #COREecon - what if research and practice in economics were much closer, as in medicine?
  37. Great following #COREecon meeting from to have made it (& love to have finished all the work promised for the project - eeeek!)
  38. Econ courses need to teach skills about how to communicate, not just to reason, says @JulietSchor #COREecon
  39. Follow #COREecon to see good debate about economics theory and practice. Good reading ahead of #economicsfest next week.
  40. #COREecon @TimHarford : Difficult to incorporate evol econ, behav econ insights into curriculum because grab bag, no overarching framework
  41. RT @diane1859: Audience for my panel at #COREecon -  What's the collective noun - an opinion of economists?
    RT @diane1859: Audience for my panel at #COREecon - What's the collective noun - an opinion of economists?
  42. “@ruskin147: RT @diane1859: Audience at #COREecon What's the collective noun - an opinion of economists?” A discord?
    @ruskin147: RT @diane1859: Audience at #COREecon What's the collective noun - an opinion of economists?” A discord?
  43. #COREecon @TNYJohnCassidy quotes Paul Samuelson "Funeral by funeral, economics does make progress”
  44. #COREecon @TNYJohnCassidy : Problem in econ not just mistaken theorising, also hubris, some really believed macro problems solved
  45. #COREecon @TNYJohnCassidy : Need for models which admit the possibility of extended periods of stagnation
  46. #COREecon @TNYJohnCassidy : Teaching the models required to undergraduates is challenging but they need to know these issues exist
  47. #COREecon @TNYJohnCassidy : We need to rename 'market failure' to emphasise its imptce, its study counts as 'reality based economics'
  48. #COREecon @TNYJohnCassidy : Closing thoughts — perhaps econ too complex for agg models, perhaps gen Goodhart's Law afflicts all econ policy
  49. #COREecon @martinwolf_ : Standard ug texts, even advanced textxts, paint entirely misleading picture of credit, money and banking
  50. #COREecon @martinwolf_ : Banking institutions create credit, purchasing power, debt ex nihilo through lending
  51. #COREecon @martinwolf_ : Credit does not mainly finance investment but purchase of existing assets
  52. #COREecon @martinwolf_ : Credit and debt main factors determining fragility of economy and vulnerability to crisis
  53. #COREecon @martinwolf_ : None of this captured adequately by models of barter economies in which credit and money are simply veils
  54. The strange amnesia of modern macroeconomics - @martinwolf_ on bringing back banking, credit+money #COREecon: 
  55. Andy Haldane: Economics envies wrong type of physics - move on from 1st principles thinking, and pursue inductive approach? #COREecon
  56. #COREecon Andy Haldane: Problem in econ is not physics envy, but following wrong sort of physics. Need a more inductive data-driven approach
  57. A new economics curriculum - #COREecon project to reform the undergraduate syllabus: 
  58. Here is the #COREecon team presenting the first steps in a new economics curriculum
    Here is the #COREecon team presenting the first steps in a new economics curriculum
  59. Wendy Carlin: @inetcoreteam has goal to stand up in less than a year with a new econ course. Need to move on from good ideas #COREecon
  60. Daniel Hojman is talking about weaving distributive justice aspects into Econ course - income inequality, generational questions #COREecon
  61. Great @USydneyEcon is part of this initiative “@econromesh: - #COREecon project to reform undergrad syllabus: 
  62. Distribution and cooperation are fundamental part of econ curriculum, says @dhojman - but barely discussed today #COREecon
  63. Rajiv Sethi says #COREecon is innovative both in content and in process
  64. #COREecon @dhojman : Cooperation and distributive justice are central to much research but virtually absent from introductory courses
  65. #COREecon @rajivatbarnard : Students need to understand price discovery process as much as to understand equilibrium
  66. #COREecon @rajivatbarnard : Internal conflicts make firms much more interesting than just a 'cost function facing a demand curve'
  67. Arjun Jayadev speaking at #COREecon - Azim Premji Univ in Bangalore will be teaching the new curriculum from 2015
  68. Public debate in India inspiring, but economics often taught by rote, says @econarjun #COREecon
  69. Sam Bowles: intro econ need not endorse a particular normative view, but it should teach concept of justice #COREecon
  70. Question at #COREecon - who is going to teach the new curriculum and how will the institutional inertia and vested interests be overcome?
  71. #COREecon Sam Bowles quotes HoD at Turkish uni: Our students can solve any problem set we throw at them …
  72. #COREecon Bowles: … but ask them about the economy and their answers no better than Istanbul taxi driver, perhaps less informed
  73. Wendy Carlin There is huge inertia, it's very easy to teach the standard course. We are providing other material, with new tech. #COREecon
  74. #COREecon Carlin: The problem is not in econ research, it is the inertia that prevents developments entering the curriculum
  75. #COREecon Bowles: We can teach standard theory better, make students think about tradeoffs rather than simply learning marginal conditions
  76. @inetcoreteam #COREecon  looks interesting - will any materials be ready for next term (January)?
  77. @diane1859 Framing #economy within #environment & #ecosystems, valuing non-monetary values essential for sustainability in #COREecon
  78. @inetcoreteam plan to roll out new economics undergraduate curriculum in 2015. Includes econ history, role of finance p=89