New Millennium economics: how did it get this way, and what way is it?

Article Abstract:

Students have tended to use little of their training as economists in the 1990s, and this could lead to a shift to a focus on more relevant issues in the 21st century, with customized learning so that individuals learn what they need for their particular uses. This change could involve going back to a descriptive approach as seen in the mid 20th century. Computational techniques and mathematics may become more complex, but students can be taught how to use such tools rather than their derivation.

Forecasts and trends, Universities and colleges

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The stories we tell: a reconsideration of AS/AD analysis

Article Abstract:

The study of problems of the aggregate supply/aggregate demand in macroeconomics reveals that there is a difference between textbook models that are presented by economists to students and the models of working theory. In that case textbook models should not be taught as the best models of the economy, and inclusion of exposition on dynamics would improve them. Textbook models make good mental exercise to give students a feel for interaction of economic variables.

Supply and demand

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Retrospectives: the lost art of economics

Article Abstract:

Applied economics or the art of economics should be placed in a different category from positive and normative economics as it encompasses activities and methods that are inapplicable in either approach. Too precise or too subjective treatment of applied economics result in inappropriate economic recommendations. Applied economics should be treated as an empirical discipline and maintain a flexibility that would cater to the particular needs of the moment.

Social aspects, Practice, Economists

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