Title: Empowering students to compare ways economists think: the case of the housing bubble

Authors: I. David Wheat

Addresses: Fosswinckelsgate 6, N-5007 Bergen, Norway

Abstract: Students are expected to think critically about economic processes but not about the way economists explain those processes. They are generally powerless to do the latter. This paper illustrates a causal mapping technique to enable students to translate narrative accounts of various economists| models into a common framework that facilitates comparison and promotes informed discussion. Called the feedback method, it is demonstrated with a comparison of three accounts of the recent US housing price bubble.

Keywords: housing bubble; critical thinking; economic thought; feedback; mental models; theory; causal mapping; economics education; economic models; house prices.

DOI: 10.1504/IJPEE.2009.028966

International Journal of Pluralism and Economics Education, 2009 Vol.1 No.1/2, pp.65 - 86

Published online: 16 Oct 2009 *

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