Student Reflections and Post-Crash Economics

Abstract

This chapter explores student demand for alternative and heterodox approaches to economic theory and the need for innovative methods of teaching economics which departs from neoclassical and orthodox views. The analysis builds upon the contributions delivered by students who participated in the 2016 Conference Teaching Economics in the 21st Century at the University of Dundee. All students call attention to the need for a change in the economics curricula to include innovative and heterodox ideas which go beyond the traditional neoclassical approaches.

Appendix: Questionnaire

Rather than fostering separate and disjointed answers to each issue, the questions have been set up with the aim of providing “food for thought” for an active, critical and comprehensive analysis. Each student participating in the project was therefore expected to contribute with a coherent, structured and thorough array of experiences, critiques, proposals and ideas, based on the following questionnaire:

• 1. What is your experience of being taught economics at the university?

• 2. What is, in your opinion, the degree of usefulness of economic models?

• 3. Do you believe current economics methodologies are suited to the future direction of the discipline?

• 4. To which extent do you believe economic models are able to help us understand how the world works?

• 5. When learning economics, did you combine the theoretical thinking provided by university lectures with actual and complex case studies? Can you think of specific examples?

• 6. How do you relate economic theories that you have learnt at university to real-world economic issues?

• 7. Assumptions in economic models play a fundamental role in determining the results. What changes in the assumptions do you think are needed, if any, to improve the validity of models, or do you think instead that, as some argue, all models are wrong?

• 8. Do you think that mainstream economics has limitations in addressing policy issues? Can you provide an example or ways in which this might be addressed? What particular shortcomings do you think are particularly critical?

• 9. Do you think that mathematics is an indispensable tool for economic studies and how do you estimate the importance of mathematics in economic models?

• 10. When did you first become aware of the critiques to mainstream economic ideas? How did it impact on your thinking about economics?

• 11. Do you agree with the criticisms about how economics is taught at universities, as popularised by media (such as the BBC Radio4 programme “Economic Rebellion”) and by non-mainstream economic societies (such as the University of Manchester Post-Crash Economics Society )? Why?

• 12. How do you think economic theory should evolve in the aftermath of the 2007 crisis?

• 13. When did you become aware of the challenges in economics teaching after the 2007 crisis?

• 14. During your university studies, have you been introduced to heterodox and alternative economic ideas? Which and where?

• 15. Do you believe that heterodox ideas in economics can improve the effectiveness of economic models? Can you provide any examples of specific areas heterodox ideas you have in mind?

• 16. Do you think that heterodox and alternative approaches to teaching economics could lead to a better understanding of the real world?

• 17. Do you think that current economics teaching gives you the skills to effectively critique established (both heterodox and classical) models and theories, or develop your own?

• 18. In your opinion, should economics curricula be reformed and upgraded, or do you think that there is no need for changes? Why?

• 19. Do you think that there is a compelling need for heterodox and innovatory approaches to teaching economics at universities? Why?

• 20. Do you have any further thoughts following your participation in the conference “Teaching Economics in the 21st Century ” about economics teaching?