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Entrepreneurship and robotics have changed the world around us, with both positive and negative effects on the environment. Despite the spread of globalization, the economic divisions at universities have been unable to adapt. Present curricula do not offer students the opportunity to analyze current economic conditions in enthralling ways, such as by the application of game theory and power relations within businesses. Students enrolled in specialized classes are only taught concepts such as economic analysis and cost curves. In several universities, the economic module prioritizes model activity over individual judgment when assessing exams. However, there are changes being made to revise the curriculum in an effort to acclimatize it to the education being offered in classes.
Widespread student protests have in the past demonstrated the need for pluralistic teaching and miscellany in content. Overhauling the curriculum will produce students who can efficiently integrate the novelties from their coursework with the economics of the modern world (Yalcintas, 2016 pg. 12). Economics shows that the attempts made at resolving social issues like poverty and unequal distribution of wealth can have unpremeditated consequences (Yalcintas, 2016 pg. 12). Introductory courses should be aimed at showing the importance of concepts such as trade-offs and incentives and how they affect economics in the real world.
Issues concerning changes in undergraduate syllabi have been propagated by the French students who started protesting against the monopoly of conformist theory back in 2001 (Yalcintas, 2016 pg. 13). Since then, more students have joined the protests and signed petitions pushing for the reforms that are long overdue. Teaching is the only way through which professionals can be produced and economic ideas promulgated. Mainstream economists are concerned that the crisis in teaching curricula has tainted the authority that economics has in the society (Yalcintas, 2016 pg. 30). Academics who show concern over the nature and grounds of financial collapse are shunted to universities in less powerful states and liberal colleges where they can be ignored.
There exists a limited number of literature sources concerning current issues with most students having to rely on journals and blog posts for information (Yalcintas, 2016 pg. 32). Technological innovations such as CrossRef have been introduced into school websites in an effort to combat the problem of integrity in published articles (Yalcintas, 2016 pg. 32). Intellectual welfare can be increased only if the students become more aware of the effects of their decisions. Hence several students have become moral activists in an effort to eliminate questionable research practices (QRPs) and safeguard their moral rights to transparency in knowledge of economics.
In conclusion, economics is the most fundamental of all social sciences. Economic and financial theories are employed by governments, banks and private firms in the formation of policies and strategy (Yalcintas, 2016 pg. 27). Therefore economics module in universities should be structured in a way that encourages students to be innovative. With the changes in business trends professionals in economics ought to be equipped with the unique skillset that affirms their relevance in the society.
Yalcintas, A. (2016). Intellectual Path Dependence in Economics: Why Economists Do Not Reject Refuted Theories. Routledge.
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