The Double Paradox of Elementary Economics Education

Eduardo Pol () and Peter Carroll
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Eduardo Pol: University of Wollongong, http://business.uow.edu.au/econ/who/index.html
Peter Carroll: University of Wollongong, http://www.uow.edu.au/index.html

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: Elementary economics textbooks have become less attractive to students requiring only an introduction to economics, given that their content is pervaded by mathematical diagrams and simple equations. Also they are of relatively little value to those interested in, for example, attempting to gain an understanding of the New Economy, for they rarely emphasise business innovation and its crucial dynamic role. These factors engender something of a double paradox. First (paradox of the tools and the audience), newcomers are frequently 'turned off' by existing economics textbooks due to the pervasive use of mathematics. Second (paradox of the content and relevance), those newcomers who are not initially turned off tend to be disenchanted with economics because they perceive that economics is of little use in understanding the New Economy in which they work, or will come to work. We suggest an integrated solution to both paradoxes. The implementation entails a minor reorientation of the traditional pedagogical strategy for teaching introductory economics.

Keywords: Double paradox; elementary economics education (search for similar items in EconPapers)
Pages: 18 pages
Date: 2005
New Economics Papers: this item is included in nep-edu, nep-hpe and nep-sog
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