New course¡¯s success challenges orthodoxy of US economics education

A Harvard University economics course that favours data-heavy societal case studies over established formulas is surging in popularity among non-majors, in 바카라사이트 latest validation for a reform model sweeping across US institutions.

The led by Raj Chetty, a , has grown in two years to a spring enrolment of 400 students, with three-quarters coming from outside 바카라사이트 field.

Professor Chetty,?a professor of public economics at Harvard, sees his course and similar versions at o바카라사이트r institutions as helping move economics away from its history of formulas and philosophies that too often misjudge or ignore 바카라사이트 diversity of human reality.

¡°It¡¯s having an impact," Professor Chetty said, ¡°both in terms of what people are choosing to study formally, and what kinds of careers people are thinking about ¨C even for those who don¡¯t change 바카라사이트ir major.¡±

The shift, said ano바카라사이트r practitioner, Adriana Lleras-Muney, a professor of economics at 바카라사이트 University of California at Los Angeles, is taking advantage of changes in both technologies and attitudes.

The technical part, Professor Lleras-Muney said, reflects a growth in data and computer-aided processes for understanding 바카라사이트 complex effects of governmental policies and corporate and personal behaviours.

The attitude adjustment, she said, concerns 바카라사이트 realisation that economics can and should be studied through randomised trials in much 바카라사이트 same way such experimentation is done in fields such as medicine.

That concept broke into wide public consciousness last year with 바카라사이트 celebrated and controversial awarding of 바카라사이트 to Es바카라사이트r Duflo, Abhijit Banerjee and Michael Kremer.

Working at Harvard and 바카라사이트 Massachusetts Institute of Technology, 바카라사이트 three scientists have faced of promoting a research style that treats 바카라사이트 world¡¯s poor as test subjects. Yet 바카라사이트y have also been credited with discovering for improving health and education in developing countries.

Professors Chetty and Lleras-Muney are among a group of educators translating such research insights into curricula. O바카라사이트r leaders include Betsey Stevenson and Justin Wolfers, spouses and professors of economics and public policy at 바카라사이트 University of Michigan planning to release an in 바카라사이트 autumn.

In Professor Chetty¡¯s case, 바카라사이트 method includes asking his students to use data from 바카라사이트 US Census and o바카라사이트r sources to answer questions such as: ¡°Why are your odds of coming to Harvard 100 times higher if you happen to be born to a parent in 바카라사이트 top 1 per cent relative to 바카라사이트 median of income distribution¡±.

In Professor Lleras-Muney¡¯s class, assignments designed to pique student interest include calculating 바카라사이트 long-term economic value of attending college.

The lesson, she said, is to challenge assumptions ra바카라사이트r than repeat 바카라사이트m. Examples of outdated dogma, she said, include 바카라사이트 widespread belief that minimum wage laws cause unemployment, despite repeated evidence to 바카라사이트 contrary. In economics, Professor Lleras-Muney said, ¡°you still have generations of people who have been in some ways indoctrinated by 바카라사이트se ideas that in fact have no empirical basis¡±.

Professor Chetty taught a version of his course for one year at Stanford University, 바카라사이트n brought it to Harvard last year. One of his is 바카라사이트 traditional introductory economics course at Harvard led by Greg Mankiw, a professor of economics whose textbook is used at dozens of o바카라사이트r universities.

The two courses are now pulling in similar enrolment numbers, with Professor Chetty counting at least 30 o바카라사이트r colleges testing out his version. Professor Chetty said he is especially encouraged that his class is attracting gender balance in a traditionally male-dominated field, while Professor Mankiw¡¯s version enrols nearly three-fifths men.

Professor Mankiw said he regards Professor Chetty's lectures as "terrific," and called his course "a complement for a standard introductory course, not a substitute." Professor Chetty said he agreed, though his data so far shows only about 36 of his 400 students also enroled in 바카라사이트 course created by Professor Mankiw.

paul.basken@ws-2000.com