How can you teach economics in a way that sparks meaningful discussion? (2024)

My recommendation is to use real-world data. For example, to teach about ESG ratings, you could give students a data set of ESG ratings for different companies. This would allow them to see how companies are performing on environmental, social, and governance metrics. It is important to use real-world data to teach economics because it makes the concepts more relevant and engaging for students. It also helps students develop data analysis and visualization skills. By encouraging critical thinking, teachers can help students develop their own economic viewpoints and spark meaningful discussion.

Economics can be easily taught when a teacher has got practical/real life examples of the concepts to be discussed in the classroom. Technical jargons of this subject are better understood when a short story/case is presented to students.

I also stress the use of examples that are particularly relevant to students' daily experiences whenever possible.A few years ago, when discussing the "Sunk cost" concept with some undergraduate students, I employed their enthusiasm for football. I highlighted how one of their favorite football coaches persistently opened the game with a consistently underperforming player.Then, I delved into an extensive explanation, connecting it to the concepts of the sunk cost fallacy. I omitted the specifics here as I'm engaging with experts.But the point is, the above analogy heightened students' curiosity, encouraging them to rethink their decisions and steer clear of the Sunk cost trap, thereby enriching their understanding of the concept.

Here are a few strategies to achieve this:1. Start with relatable and thought-provoking examples: Begin the lesson with real-life situations that students can relate to. 2. Use interactive activities and simulations: Incorporate hands-on activities or simulations that simulate economic scenarios. 3. Explore multiple perspectives: Encourage students to consider various economic perspectives and challenge their own assumptions. 4. Discuss current events and controversies.5. Encourage open-ended questions.6. Foster group discussions and debates.7. Incorporate multimedia resources.

The main aspect that needs to be emphasised when teaching economics is the logic of the treatment of different topics. Try to make sure that students do not attempt to memorize different laws, equations, and graphs.Also, we need to make that economic laws and theories are not telling people how to behave but more into observing what the people do and trying to explain them and predict what could happen in different situations and under different policies. There is also a need to consider examples; whether practical and/or hypothetical, including discussing economic changes that occur in their daily life so that they can relate to the different topics being discussed.

This is particularly true when a concept is too difficult to grasp theoretically. In that case I start off with a numerical example which the students can take part in solving and then walk my way through to the theoretical implications.

Richard Thaler y los empujones o los experimentos naturales nos permiten mirar por la ventana del aula y descubrir equilibrios de Pareto, raiders que son falsos autónomos, la gestión eficiente de recursos que se consigue desde el móvil... todo ello mirando por la ventana

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En mi experiencia personal como docente he tenido mejores resultados en cuanto a que las ideas sean entendidas y se fomente un ambiente de debate, cuando he usado ejemplos apoyados en temás de interés de los estudiantes.Otro ejercicio interesante es intercambiar posicionamientos en el pensamiento de los estudiantes, de manera que tengan que defender las ideas contrarias a las que ellos y ellas tienen realmente. Esto dota de pensamiento crítico y fomenta la empatía.

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ESG ratings also show how data can be tricky. Would we believe these ratings? So far, there are almost no standards, so companies have a lot of fredom to present themselves as "ESG" if that is good for their business. There is quite some economics in this data generating process. To understand this can also make for great econ teaching. But it's not the easiest way to start.

There are a world of thoughts out there about economics to explore. There is your traditional neoclassical economics, that views economics from a rational, mathematical perspective. You have behavioral economics that acknowledges people aren’t always rational or act that way in the economy. You have economic geography that argues the characteristics of economies and how they function are fundamentally rooted in space-time. There is circular economics which says our measures of economic growth and development are misguided.It’s a diverse world of economic thought!

In theory, much of economics is suppose to result in some type of market equilibrium where supply meets demand. In reality, that never happens. For example, in a labor economics course, students will learn about the factors which impact the likelihood of hiring or the factors which impact wages. From a theoretical perspective variables such as race or ethnicity are sometimes excluded from the discussion in a introductory course, however labor economists have conducted research on this.Thought leadership and applied research confirms that people of color continue to face discrimination and that discrimination does impact their ability to gain tenure at a company, and opportunities for advancement. This is real life economics.

La mejor herramienta que tenemos es la pregunta, y antes de la motivación está la provocación, ayudado siempre por el humor. Cualquier tema polémico debería de ser analizado en el aula, separando hechos de opiniones, con toda la información disponible y con rigor y seriedad. La persona siempre en el centro

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Si hay algo que deberíamos haber aprendido de la pandemia es que el elemento central de la economía es el cuidado. El resto es secundario. La desigualdad social es un problema cada vez más grande

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Teach learners how to do thoroughgoing and real research and fully demonstrate how economic research answers economic questions in the present world order. This research must be supported by infallible proofs and evidence.

I will also recomend to try and replicate a paper. It's a lot of work, but it gives students some idea of what they will do if they pursue Economic research related jobs.