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Teaching Economics: the Failure of Macro economics
Author(s) -
Steele G. R.
Publication year - 1988
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1988.tb01532.x
Subject(s) - macro , economics , neglect , economics education , investment (military) , applied economics , schools of economic thought , aggregate (composite) , economic analysis , macroeconomics , public economics , classical economics , positive economics , neoclassical economics , economic growth , political science , higher education , psychology , computer science , psychiatry , politics , law , programming language , materials science , composite material
The teaching of economics has for decades been dominated by macro‐economic analysis — the study of output, employment, investment and other economic indicators in aggregate — to the neglect of the micro‐economic emphasis on price. G. R. Steele, Lecturer in Economics at the University of Lancaster, contends that the predominance of macro presents students of economics with an essentially false picture of the way in which an economy functions.