Principles of economics textbooks: lessons to be learned in light of the financial crisis

Author: Madsen Poul Thøis  

Publisher: Inderscience Publishers

ISSN: 1757-5648

Source: International Journal of Pluralism and Economics Education, Vol.3, Iss.3, 2012-12, pp. : 240-251

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Abstract

Has the financial crisis already changed US principles of economics textbooks? Rather little has changed in individual textbooks, but taken as a whole ten of the best-selling textbooks suggest rather encompassing changes of core curriculum. A critical analysis of these changes shows how individual textbooks could become even better at grasping the financial crisis than the textbooks are now as a collective. This would require a development of curriculum incorporating theoretical and historical dimensions of the financial crisis and a more pluralistic attitude by integrating conflicting interpretations of the financial crisis and its causes, remedies, and possible consequences.