International Journal of Pluralism and Economics Education http://www.inderscience.com/browse/index.php?journalID=319&year=2011&vol=2&issue=3 Inderscience Publishers Ltd en-uk International Journal of Pluralism and Economics Education 1757-5648 1757-5656 © 2011 Inderscience Publishers Ltd editor@inderscience.com https://www.inderscience.com/images/files/coverImgs/ijpee_scoverijpee.jpg http://www.inderscience.com/browse/index.php?journalID=319&year=2011&vol=2&issue=3 http://www.inderscience.com/link.php?id=44268 Until about 1870 economics was referred to as 'political economics' and it is here argued that it was a mistake to abandon this terminology. Mainstream neoclassical economics is specific in scientific and conceptual terms but also in ideological terms. Similarly, other theoretical perspectives like feminist economics or ecological economics can be described in scientific as well as ideological terms. The fact that politics and ideology is involved suggests that only pluralism in economics is a reasonable position in a democratic society. This ideological element may also explain that there are different groups and schools of thought in economics who support pluralism. Pluralism and democracy in political economics
Peter Söderbaum; Judy Brown
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 240 - 243
Until about 1870 economics was referred to as 'political economics' and it is here argued that it was a mistake to abandon this terminology. Mainstream neoclassical economics is specific in scientific and conceptual terms but also in ideological terms. Similarly, other theoretical perspectives like feminist economics or ecological economics can be described in scientific as well as ideological terms. The fact that politics and ideology is involved suggests that only pluralism in economics is a reasonable position in a democratic society. This ideological element may also explain that there are different groups and schools of thought in economics who support pluralism.

]]> 10.1504/IJPEE.2011.044268 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 240 - 243 Peter Söderbaum; Judy Brown Ecological Economics, School of Sustainable Development, Mälardalen University, P.O. Box 883, 72123 Västerås, Sweden. ' School of Accounting and Commercial Law, Victoria University of Wellington, P.O. Box 600, Wellington, New Zealand political economics democracy mainstream economics neoclassical economics ideologies theoretical perspectives feminist economics ecological economics ideological terminology politics ideology democratic societies pluralism economics education. 2011-12-14T23:20:50-05:00 2 3 240 243 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44269 This article seeks to provide a brief introduction to the sociological looking glass by focusing on some of sociology's founding parents and offering ideas for continued engagement with economics. The practice of sociology
Anne B. Cross
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 244 - 254
This article seeks to provide a brief introduction to the sociological looking glass by focusing on some of sociology's founding parents and offering ideas for continued engagement with economics.

]]> 10.1504/IJPEE.2011.044269 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 244 - 254 Anne B. Cross Law Enforcement and Criminal Justice Education Center, Metropolitan State University, 9110 Brooklyn Boulevard, Brooklyn Park, MN 55445, USA sociology Max Weber Emile Durkheim Karl Marx Marxism philosophers thinkers pluralism economics education. 2011-12-14T23:20:50-05:00 2 3 244 254 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44270 In this article, we discuss 'classical' sociology and 'new' economic sociology to show the interest of sociologists in economic issues and to examine the relationship between economics and sociology from a sociological perspective. We maintain that, besides empirical studies, sociologists have contributed to the analysis of economic systems, organisations, and action through the development of theoretical approaches to answer two basic questions: Why are the neoclassical assumptions about action problematic? And how are rational economic actions and systems produced? Sociologists have worked on three frontiers to answer these questions. First, by developing a more nuanced action theory. Second, by elaborating the concept of embeddedness to capture how economic action is influenced by cognitive, cultural, structural, and political contexts. Third, by understanding the historical differentiation and rationalisation of institutions and action contexts that produces instrumental rationality. Economic sociology old and new
Adel Daoud; Bengt Larsson
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 255 - 269
In this article, we discuss 'classical' sociology and 'new' economic sociology to show the interest of sociologists in economic issues and to examine the relationship between economics and sociology from a sociological perspective. We maintain that, besides empirical studies, sociologists have contributed to the analysis of economic systems, organisations, and action through the development of theoretical approaches to answer two basic questions: Why are the neoclassical assumptions about action problematic? And how are rational economic actions and systems produced? Sociologists have worked on three frontiers to answer these questions. First, by developing a more nuanced action theory. Second, by elaborating the concept of embeddedness to capture how economic action is influenced by cognitive, cultural, structural, and political contexts. Third, by understanding the historical differentiation and rationalisation of institutions and action contexts that produces instrumental rationality.

]]> 10.1504/IJPEE.2011.044270 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 255 - 269 Adel Daoud; Bengt Larsson Department of Sociology, University of Gothenburg, P.O. Box 720, 405 30 Göteborg, Sweden. ' Department of Sociology, University of Gothenburg, P.O. Box 720, 405 30 Göteborg, Sweden classical sociology new economic sociology action theory embeddedness sociologists economic issues sociological perspectives economic systems theoretical approaches neoclassical assumptions rational actions cognitive contexts cultural contexts structural contexts political contexts historical differentiation rationalisation institutions instrumental rationality pluralism economics education. 2011-12-14T23:20:50-05:00 2 3 255 269 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44271 A university education should enable and improve students' cognitive abilities. An effective curriculum can help achieve this objective. Teaching that economics is more than just neoclassicism, for example, could aid the transition to higher stages of cognition. That said, even erstwhile supporters are sometimes reluctant to take this step for fear that students may become confused. Also open to question is how much students really develop an ability to select among various paradigms, or if they simply exit a course with their professor's biases. To answer these questions, a survey was conducted among students enrolled in several sections of a Contending Perspectives in Economics course. The data suggest that, far from being disillusioned, they exit the course with great enthusiasm and increased confidence, although somewhat influenced by the instructor's school of thought. Student attitudes toward economic pluralism: survey-based evidence
John T. Harvey
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 270 - 290
A university education should enable and improve students' cognitive abilities. An effective curriculum can help achieve this objective. Teaching that economics is more than just neoclassicism, for example, could aid the transition to higher stages of cognition. That said, even erstwhile supporters are sometimes reluctant to take this step for fear that students may become confused. Also open to question is how much students really develop an ability to select among various paradigms, or if they simply exit a course with their professor's biases. To answer these questions, a survey was conducted among students enrolled in several sections of a Contending Perspectives in Economics course. The data suggest that, far from being disillusioned, they exit the course with great enthusiasm and increased confidence, although somewhat influenced by the instructor's school of thought.

]]> 10.1504/IJPEE.2011.044271 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 270 - 290 John T. Harvey Department of Economics, Texas Christian University, P.O. Box 298510, Fort Worth, Texas 76129, USA William Perry Perry's scheme student attitudes economic pluralism university education universities higher education cognitive abilities effective curriculum teaching contending perspectives neoclassicism cognition professorial biases professors student enthusiasm student confidence heterodox courses Texas Christian University USA United States economics education. 2011-12-14T23:20:50-05:00 2 3 270 290 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44272 This article investigates the difference in measurement methods between contemporary particle physics and economics. The book Measurement in Economics: A Handbook, (Boumans, 2007), is used to present the current state of measurement technique in economics. These views are compared with the measurement of the anomalous magnetic moment of the muon. Particle physics is realist in measurement while economics is not. The reality check on theory that measurement provides in particle physics is conspicuously absent in economics. However, the nature of the social world precludes the use of the same measurement approach. Science is measurement: muons, money and the Nobel Prize
Jeffrey David Turk
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 291 - 305
This article investigates the difference in measurement methods between contemporary particle physics and economics. The book Measurement in Economics: A Handbook, (Boumans, 2007), is used to present the current state of measurement technique in economics. These views are compared with the measurement of the anomalous magnetic moment of the muon. Particle physics is realist in measurement while economics is not. The reality check on theory that measurement provides in particle physics is conspicuously absent in economics. However, the nature of the social world precludes the use of the same measurement approach.

]]> 10.1504/IJPEE.2011.044272 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 291 - 305 Jeffrey David Turk Scientific Research Centre of the Slovenian Academy of Sciences and Arts, Chemin des Deux Maisons 67/28, 1200 Brussels, Belgium realism measurement methods systematic uncertainty particle physics economic methodology muons anomalous magnetic moment Marcel Boumans Nobel Prize science money pluralism economics. 2011-12-14T23:20:50-05:00 2 3 291 305 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44273 This paper highlights a number of flaws within macro and financial economics that originated the 2007-2011 global economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism within the economics profession makes it impossible for orthodox economists to understand how research and teaching activities in their discipline have given rise to a whole generation of economists who defined away the most urgent problems of real-world economies and failed to communicate the assumptions and limitations of their models. A quantum leap is required to overcome these flaws. Macro and financial economics need a quantum leap
Sergio Rossi
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 306 - 317
This paper highlights a number of flaws within macro and financial economics that originated the 2007-2011 global economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism within the economics profession makes it impossible for orthodox economists to understand how research and teaching activities in their discipline have given rise to a whole generation of economists who defined away the most urgent problems of real-world economies and failed to communicate the assumptions and limitations of their models. A quantum leap is required to overcome these flaws.

]]> 10.1504/IJPEE.2011.044273 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 306 - 317 Sergio Rossi Department of Economics, Macroeconomics and Monetary Economics, University of Fribourg, Boulevard de Pérolles 90, CH-1700 Fribourg, Switzerland economic theories finance macroeconomics money banking banks financial economics quantum leaps global crises economic crises financial crises neoclassical economics orthodox economists real-world economies assumptions limitations pluralism economics education. 2011-12-14T23:20:50-05:00 2 3 306 317 2011-12-14T23:20:50-05:00 http://www.inderscience.com/link.php?id=44274 The global financial crisis of 2008 surprised most people, especially economists. Indeed, the financial crisis had a more devastating effect than simply creating the most significant global economic crisis since the Great Depression of the 1930s: It rocked the epicentre of the economics profession. More specifically it revealed the fault lines in the training and pedagogy of contemporary economists, exposing significant deficiencies in contemporary preparation and training for future economists. This article will describe and analyse the errors and omissions in the academic training of economists and propose specific remedies and solutions towards enhancing the efficacy of the economics curriculum. There is need for a new and more comprehensive curriculum for economics training that is congruent with the new global economy of the 21st century. The 2008 financial crisis and economic pedagogy
Constantine Passaris
International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 318 - 324
The global financial crisis of 2008 surprised most people, especially economists. Indeed, the financial crisis had a more devastating effect than simply creating the most significant global economic crisis since the Great Depression of the 1930s: It rocked the epicentre of the economics profession. More specifically it revealed the fault lines in the training and pedagogy of contemporary economists, exposing significant deficiencies in contemporary preparation and training for future economists. This article will describe and analyse the errors and omissions in the academic training of economists and propose specific remedies and solutions towards enhancing the efficacy of the economics curriculum. There is need for a new and more comprehensive curriculum for economics training that is congruent with the new global economy of the 21st century.

]]> 10.1504/IJPEE.2011.044274 International Journal of Pluralism and Economics Education, Vol. 2, No. 3 (2011) pp. 318 - 324 Constantine Passaris Department of Economics, University of New Brunswick, Fredericton, New Brunswick, E3B 5A3, Canada economic pedagogy economics curriculum financial crises globalisation economic history institutional economics global crises economic depressions economics profession fault lines training deficiencies contemporary economists future economists academic training remedies solutions efficacy enhancement global economy pluralism economics education. 2011-12-14T23:20:50-05:00 2 3 318 324 2011-12-14T23:20:50-05:00