2009 Quote by Steve Keen
““An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if it occurs at all, should come after students have at the very least completed course work in basic calculus, algebra and differential equations (the last being one about which most economists are woefully ignorant). This simultaneously explains why neoclassical economists obsess too much about proofs and why non-neoclassical economists, like those in the Circuit School, experience such difficulties in translating excellent verbal ideas about credit creation into coherent dynamic models of a monetary production economy.””
About This Quote
Source Book: Debunking Economic Myths by Steve Keen, 2018
Economic education should prioritize foundational math before advanced methods, exposing gaps in economists' quantitative skills and linking theory to real monetary dynamics.
In simple terms: Teach basic math first, then advanced economics.
Key Takeaway
Ensure solid math foundation before complex models.
Themes
education
economics
methodology
Mood
critical
analytical
Type
academic
instructional
When to use this quote
- undergraduate economics courses
- policy analysis
- research training
Key Concepts
quantitative literacy
modeling
interdisciplinary teaching
Questions to Reflect On
- How can curricula balance early math exposure with economic intuition?
- What barriers prevent economists from mastering differential equations?
A Different Perspective
May overlook the value of early exposure to mathematical thinking for some students.
