How Has Economics Influenced Business?

Eli P Cox

Chapter 4 in Seeking Adam Smith:Finding The Shadow Curriculum of Business, 2017, pp 29-64 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter reviews the role of economics in the history of business education, rather than a broader history of economics. Economics has been a part of business curricula since the beginning, but its content and the extent of its influence changed just when business schools needed help. In the era before Gordon-Howell (BGH), neoclassical or mainstream economics was dominant. While classical economists of the 19th century had focused on the supply side of free markets, neoclassical economists took greater interest in the demand side and recognized the importance of the federal government’s macroeconomic policies. Its role in business school curricula continued to be questioned because economists had shown little interest in the internal workings of firms and financial markets or in providing tools for managers…

Keywords: Financial Crises; United States; Corporations; Moral and Ethical Aspects; Business Education; Business Ethics; Economics-Moral and Ethical Aspects; Adam Smith (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2017
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