This paper builds on a 2005 study that reviewed introductory political economy (heterodox economics) subjects throughout Australian universities. This paper surveys the teaching of political economy in general, with a particular focus on explaining where growth and decline has occurred. …
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Theories are difficult to directly confront with reality. Economists therefore build models of their theories. Those models are representations that are directly examined and manipulated to indirectly say something about the target systems. Even though all theories and models are …
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The mainstream view about the irrelevance of HET is illustrated, and the reasons for it are indicated in the hidden assumption of a positivist idea about the cumulative growth of knowledge. HET is however very important when existence of different …
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The advent of the new global economy and more poignantly the global financial crisis of 2008 has revealed the pedagogical fault lines on the contemporary economic neoclassical landscape. This paper proposes a new model for economic pedagogy and for the …
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I propose a fairly root and branch reform of the curriculum. But it is not meant to be a detailed manifesto. For example, the core model of agent behaviour in mainstream economics should still be taught. It is not completely …
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The paper starts with the provocative assertion that TNCs have very little impact on today’s economics curriculum. It aims to show that an understanding of modern economies cannot be arrived at without an understanding of how TNCs operate. It then …
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In empirical economics, a twofold lack of incentives leads to chronic problems with replicability: For authors of empirical studies providing replicable material is not awarded in the same way as publishing new irreplicable studies is. Neither is authoring replication studies. …
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In this period of economic and social distress, a thorough re-appraisal of the foundations of our economic and social systems has been emerging in virtually all the most developed Countries. We will address some elements of such issues by analysing …
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I have been teaching microeconomics for more than four decades, and over the past months I have been seriously thinking about this question: “What are some of the most important things I would like economics majors to know before they …
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The different approaches to economics can be understood in terms of whether economics is understood in terms of a closed system or, if an open system, which type of open system. This paper considers what is implied for teaching, when …
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The financial crisis has reinforced a prior debate already taking place among economists about whether the mainstream of their subject was unduly narrow. The additional question now is the extent to which the character of mainstream economics itself bears responsibility …
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Many factors have been cited for the continuing, intractable poverty condition in most poor countries. One is that their governments are unstable, rife with corruption, and unwilling to reform their economies, and menaced with failure when they implement reform efforts. …
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The birth of Economic policy as a discipline not confined to a set of practical rules intended to explain technical procedures of government intervention is rather recent. The discipline emerged in the late 1950s in Scandinavian countries and Italy only …
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