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Dropping some of the ridiculous assumptions and treating the firm in a way that is recognizable to anyone that has practical experience in business, especially if at least discussed in early economics courses, might start to make the discipline more relevant to other departments. So much of what makes it into blogs and media seems to show economists adopting an attitude of "look how ridiculous and off-putting we can be!" This is likely part of why so many business schools only require one intro economics course.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jan 22nd, 2014 at 05:40:36 PM EST
[ Parent ]
Dropping some of the ridiculous assumptions and treating the firm in a way that is recognizable to anyone that has practical experience in business, especially if at least discussed in early economics courses, might start to make the discipline more relevant to other departments.

You say that as if it were a good thing.

Economics departments need to learn from the real social sciences. Not the other way around.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jan 22nd, 2014 at 05:42:32 PM EST
[ Parent ]
You say that as if it were a good thing.

While having other academic curricula not require significant course work in economics might not, unfortunately, affect the baleful influence the current Mainstream version of Economics has on public policy it could lead to a collapse of the discipline in the academy. In comparison to the effect the entrenchment of current version of economics is having on societies the destruction of the discipline might well be an improvement.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jan 22nd, 2014 at 07:33:51 PM EST
[ Parent ]
But departments who become motivated to include economics course because they [treat] the firm in a way that is recognizable to anyone that has practical experience in business, are unlikely to recognize and point out that the entire treatment is a nonsense from the ground up which has merely been tortured long enough to form some pale reflection of the real thing.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jan 23rd, 2014 at 02:27:51 PM EST
[ Parent ]
The entire, US business school model is based on teaching versions of business and markets that have no basis in reality.  They're almost as bad as law schools.
by rifek on Thu Jan 30th, 2014 at 12:22:30 PM EST
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Or rather, "might start to make the discipline seem more relevant to other departments", since the change required to make the discipline actually more relevant to other departments is to convert to a scientific approach, in which the effort being made is to explain cause and effect relationships in the real world, as opposed to trying to simple emulate real world outcomes.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Tue Jan 28th, 2014 at 11:46:21 AM EST
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