The current financial and economic crisis: empirical and methodological issues

In this paper we describe the main causes of the recent financial crisis as a result of many theoretical, methodological, and practical shortcomings mostly according to heterodox, but also including some important orthodox economists. At theoretical level, there are problems concerning teaching and using economic models with overly unrealistic assumptions. In the methodological front, we find the unsuspected shadow of Milton Friedman’s ‘unrealisticism of assumptions’ thesis lurking behind the construction of this kind of models and the widespread neglect of methodological issues. Of course, the most evident shortcomings are at the practical level: (i) huge interests of the participants in the financial markets (banks, central bankers, regulators, rating agencies mortgage brokers, politicians, governments, executives, economists, etc. mainly in the US, Canada and Europe, but also in Japan and the rest of the world), (ii) in an almost completely free financial and economic market, that is, one (almost) without any regulation or supervision, (iii) decision-taking upon some not well regarded qualities, like irresponsibility, ignorance, and inertia; and (iv) difficulties to understand the current crisis as well as some biases directing economic rescues by governments. Following many others, we propose that we take this episode as an opportunity to reflect on, and hopefully redirect, economic theory and practice.

Workshops in “Construction of Structures I”: A new teaching methodology in the Building Engineering Degree

Both the current economic situation in the construction sector and the continuous normative changes in the building area imply the use of new methodologies to enhance students’ competences in the degree of Building Engineer. The aim of this paper is to present, analyse and discuss the development of constructive workshops as a new teaching methodology used in the subject of Construction of Structures I at the University of Alicante to complement the constructive and technical knowledge acquired by our students and to enhance their communicative and representation skills essential for their professional practice in the future. The used methodology is based on the development of three-dimensional construction details (in groups of 3 or 4 students) to be shown in two A1-pannels exposed in the corridors of the Polytechnic School. Thus, students’ work approaches constructive problems in a global way by discussing simultaneously with teachers and other groups about the most suitable solution on each case. This contribution has multiperspective results and improves criticism of students in different areas, encouraging new learning strategies and active participation. What is more, on-line information and web applications have been used to prepare and organize this kind of workshops, allowing students to use new technologies as a complementary learning methodology. In conclusion, the use of these new workshops in the Degree of Building Engineer stimulates an interactive class versus a traditional lecture where the participative groups´ attitude and the development of oral presentations dissolve the traditional boundaries regarding public communication skills of the students in the Degree.

From a Vicious Circle of Anxiety to a Virtuous Circle of Learning: Experience of Teaching to a Heterogenous Clientele

A considerable body of literature suggests that significant psychological barrier and anxiety characterize the teaching and learning process in statistics. This study investigates the incidence of statistics anxiety, the extent to which it can be overcome and the factors that contribute to the process of overcoming it. Self-study and overall teaching quality, amongst others, significantly contributed to this outcome. This study identifies factors contributing to overall teaching quality. The teaching and learning process typified a highly effective communication mechanism based on an appropriate diagnosis of individual needs. This cumulative change resulted from circular causation. It is argued that given appropriate conditions the vicious circle of anxiety can be transformed into a virtuous circle of learning.

Directions for a troubled discipline:strategy research, teaching and practice introduction to the dialog

This Dialog responds to a growing debate about the relevance of business schools generally and the value of strategy theory and research for strategic management practice. The authors propose that academic theory and management practice can be better connected through management education. The academy researches practice, derives theory, and returns it to practice through the development of teaching materials and the teaching of current and future practitioners. The three articles in this Dialog examine how different approaches to strategy research inform strategy teaching and its application to practice. Joseph Bower explains the rise of business policy and the process research approach that informed that teaching tradition at Harvard Business School. Robert Grant responds by emphasizing the economic theory underpinnings of strategic management research and its impact on teaching. Paula Jarzabkowski and Richard Whittington conclude by proposing a strategyas-practice perspective and suggesting ways to better incorporate strategy-as-practice research into strategy teaching.

Project Proposals Development – Entrepreneurship and Reflection in Teaching Information Technology

This work presents a model for development of project proposals by students as an approach to teaching information technology while promoting entrepreneurship and reflection. In teams of 3 to 5 participants, students elaborate a project proposal on a topic they have negotiated with each other and with the teacher. The project domain is related to the practical application of state-of-theart information technology in areas of substantial public interest or of immediate interest to the participants. This gives them ample opportunities for reflection not only on technical but also on social, economic, environmental and other dimensions of information technology. This approach has long been used with students of different years and programs of study at the Faculty of Mathematics and Informatics, Plovdiv University “Paisiy Hilendarski”. It has been found to develop all eight key competences for lifelong learning set forth in the Reference Framework and procedural skills required in real life.

Kérdőjelek a közgazdaságtanban és oktatásában = Challenges in economic research and education

Ez az esszé a teljesség igénye nélkül kísérli meg áttekinteni azt, hogy mire vezetett a közgazdaságtan világméretekben megindult és a 2008-2009. évi válság lezáratlansága miatt vélhetően évtizedes szinten zajló önvizsgálata. A tudományszak egészét egyszerre jellemzi egyfajta tartalmi kiüresedés és a társtudományokkal való erőteljesebb kapcsolatkeresés, a módszertanok és az iskolák egymás mellett élése - ami egyáltalán nem békés -, valamint a gyakorlat által felvetett kérdések elméleti általánosításának igénye. A magyar közgazdaságtan hagyományos követő szerepe megmaradt, viszont a képzésben szerzett negyedszázados tapasztalatok és az új globális kihívások lényegi átalakításokat indokolnának a mai, túlságosan egységesített képzésben. _____ This essay joins the soul-searching that has developed globally among economists since the financial crisis of 2008-2009, whose still open-ended outcomes make it likely that such self-critical reassessments will continue in the years to come. Economics is marked by the parallel existence of substantive hollowing and in-creased reliance on interfaces with neighbouring disciplines. So the plurality and none-too-peaceful coexistence of schools and methodologies is likely to persist. Similarly abundant are the attempts to theorize and generalize new phenomena in policy and business practices. Hungarian economics continues to be a follower - a trend-taker rather than trend-setter - as it was in the inter-war period. Experience has been accumulating for over 25 years in introducing Western-style higher education in economics. The increase of student numbers and steep decrease in public funding thereof call for major restructuring in curricula, institutions and teaching methods and styles alike.

Teaching economics in Hungary after the crisis

In the wake of the economic crisis, a question arises increasingly often: what is the role of economic culture in overcoming the crisis? Since the mid-2000s, leaders of developed countries have kept pointing out that fostering political and economic education is a driver of growth and development. Curricula are being overhauled; new modules are appearing in the study programmes of secondary schools, colleges, and university-level undergraduate courses; significant curriculum developments have been launched at the world’s leading universities in the last few years. Hungarian higher education cannot exclude itself from this process.

The role of community college faculty in teaching and learning for sustainable development

The purpose of this study was to explore the attitudes, beliefs, and practices of community college professors regarding education for sustainable development (ESD). In-depth interviews with 14 professors from different disciplines were conducted. The participants taught at Miami Dade College, Florida, a Talloires Declaration signatory since 2006, and all had attended Green Studies professional development workshops. Written documents such as assignments and samples of student work were used for triangulation. The annual report of the college’s Earth Ethics Institute and its Web site served as additional sources. The interviews were recorded, transcribed, and analyzed for common themes. The Talloires Declaration’s 10-point action plan and the key characteristics of ESD (UN DESD, 2006) served as the conceptual framework. The study found that the professors considered ESD an essential issue. The majority discussed the economic and social aspects of ESD; however, the environmental aspect was mentioned most frequently. The professors’ conceptualizations of ESD were influenced by their experiences and evidenced by the metaphors they used. Although their engagement with ESD differed, the professors expressed optimism toward ESD related teaching and learning. They regarded ESD as compatible with their subjects, and most had already been infusing sustainability into their courses or planned to do so. Additionally, the participants’ teaching practices reflected many of the characteristics of ESD. Even though the professors considered ESD challenging, they believed that they could make contributions to the college’s effort. The metaphor of “Planting a Seed” was frequently used to describe this holistic approach. The study also found that many professors regarded interpersonal relationships and communication significant factors for the advancement of ESD. The participants described several challenges to integrating ESD at their college. These related to time constraints, density of curriculum, institutional size and fragmentation, dearth of administrative support and incentives, students’ lack of academic preparation and sustainability awareness, students’ inability to focus on ESD because of personal, social, or economic circumstances, and professors’ frustration about a divisive atmosphere as a result of their engagement with sustainability. Despite these obstacles, the professors believed that ESD could be successfully woven into the community college experience.

University Teaching of entrepreneurship: a practitioner's analysis

This is a practitioner doctorate aimed at both Universities about to introduce Entrepreneurship as a subject and practitioners who may be turning to teaching what they know building on their business experience. In this Portfolio the transition from Entrepreneur to Lecturer in Entrepreneurship is explored and several approaches were used to support the transition. A Professional Development Memoir offers a review of the life of an entrepreneur through the lens of Meaning Making Systems in order to bring clarity to the theories used by the Entrepreneur implicitly in his practice. Reflecting on these theories offers insight as to how the entrepreneur perceived and acted on market opportunities. Imparting some of the knowledge accumulated from practice is one goal in teaching. Economics and pedagogical theories were identified, researched and applied to inform the structure, design and delivery of a module in Entrepreneurship within a post graduate programme that focussed on business practice. Theories of Entrepreneurship grounded in Economics indicate the importance of this business function within the broad Economic System for economic development. The role of theory is to offer students ways of organising how they think about entrepreneurship. Gardner’s Teaching for Understanding framework is used to bring structure to the development of the module. Several leading exemplars on the teaching of Entrepreneurship are attended to offer a context both for the content of the Module and its subsequent implementation within a framework of best practice in the teaching of Entrepreneurship. The practical running of a business by the students as a central element of the Module provided a deep and valuable learning experience allowing them to experience Entrepreneurship in a real way for themselves.