Task Force on Economics Curriculum reports at INET's Bretton Woods Conference (1 of 3)

The video discusses the efforts of the Institute of New Economic Thinking to reform economics education. It highlights the Queen's question, which questioned the predictive power of economics, and introduces the concept of discipline eclecticism. The video outlines the demand for change in economics education, the challenges faced, and the proposed INET curriculum. The curriculum aims to integrate real-world economics, history, and communication skills, addressing the limitations of current economics education.

What was the main purpose of the task forces set up by the Institute of New Economic Thinking?

• To increase funding for economic research

• To develop a new economic theory

• To change the way economics was taught

• To promote international economic cooperation

What is the concept of 'discipline eclecticism' in economics?

• A combination of different economic theories

• A focus on mathematical models

• An emphasis on historical analysis

• A single theory of economic behavior

Why is there a demand for changes in economics education?

• Due to the economic collapse

• To focus more on theoretical aspects

• To align with political ideologies

• To reduce the number of economics graduates

What is a significant barrier to reforming the economics syllabus?

• Insufficient funding for educational reforms

• The influence of graduate course requirements

• Lack of interest from students

• Resistance from international institutions

What did Keynes hope economists would become as useful as?

• Doctors

• Teachers

• Dentists

• Engineers

What is missing from most current economics degree courses in the UK?

• Environmental economics

• Advanced mathematical models

• Compulsory history of economic thought

• International economic policies

What is the aim of the proposed INET curriculum?

• To eliminate all theoretical components

• To integrate economic history and philosophy

• To increase the number of compulsory courses

• To focus solely on microeconomics

What is emphasized in the first year of the proposed curriculum?

• Advanced economic theories

• Real-world economics and continuing debates

• Exclusive focus on macroeconomics

• Historical economic events

Why is communication emphasized in the proposed curriculum?

• To improve writing skills for academic papers

• To reduce the need for mathematical models

• To enable economists to influence non-economists

• To prepare students for public speaking

What is a key feature of the 'competencies and depth model' in the proposed curriculum?

• Focus on a single economic theory

• Elimination of quantitative techniques

• Integration of real-world applications

• Increased focus on historical analysis