Monday, September 20, 2010
Has the crisis changed the teaching of economics?
Here is a discussion on the Economist about teaching economics and the crisis. A lot of the discussion is focused on upper/graduate courses, but the reading list proposed by Michael Bordo is particular interesting. At Oregon I required all my students in my money and banking course to read, "Manias, Panics, and Crashes" by Charles Kindleberger. At Gonzaga I teach an course entitle "Economics of Financial Crises". The two books that I have required students to read are "This Time is Different. Eight Centuries of Financial Folly" by Carmen Reinhart and Ken Rogoff and "Manias, Panics, and Crashes." For anyone wanting to better understand the crisis start here. In my intermediate macroeconomics course next spring "The Time is Different" will be required reading.