A year ago Her Majesty’s Treasury hosted the launch of the Curriculum Open-access Resources in Economics (CORE) project, dedicated to changing the way that students learn economics. The project group proposed to introduce a free online introductory set of teaching and learning materials embodying the best of modern economics, including new thinking emerging since the 2008 financial crisis.
The project is a response to widespread dissatisfaction among students, professors, and employers that classroom economics has become increasingly out of touch with what an informed public needs to know about how contemporary economies work—and what might be done to make them work better.
One year on, economics undergraduates at University College London (UCL), as well as public policy masters students at Columbia University and the Central European University are part of the project’s beta testing process, learning introductory economics the CORE way.
They will soon be joined by more than 1,000 students at Sciences Po in Paris, and by students at the University of Sydney, University of Chile, University of Siena, and at the new Azim Premji University in Bangalore. Italian, French, and Spanish translations are underway.
Professor Antonio Cabrales (in our picture, he is teaching CORE to first year UCL students on 1 October 2014) is in charge of the autumn term in the CORE introductory economics course at UCL. He explains that students are taught, “what economists have learned over the past 20 to 30 years addressed to the important questions for humanity such as inequality, global warming, development, economic instability, and unemployment.”
Headed by UCL professor Wendy Carlin, the project is a global team of economists based at the Oxford Martin School with funding support from the Institute for New Economic Thinking.
Cabrales says: “I hope this is going to be a true revolution in the way economics is taught.”