Beatrice Mbinya is an economist based in Kenya featured in the preface of CORE’s The Economy 2.0: Macroeconomics. We spoke with Beatrice to find out more about her journey in economics, her experience with CORE, and economics teaching in Africa.
Hi Beatrice, thanks for joining us! Could you start by telling us a little about your academic background and what got you interested in economics?
I studied economics and statistics at the University of Nairobi, then later public policy analysis.
At first, I didn’t know what economics was. From my high school days, I had an interest in business studies, history, politics, and the interaction between the three.
I eventually applied for economics at university and initially focussed on microeconomics. One day I overheard some senior students discussing macroeconomics, effects on GDP, and how the government was going to start spending on education. I started listening in and became interested. We got talking and they later asked me to write about STEM education, gender disparity, and how financial aid for education works in Kenya.
I was very new to this. When I started writing, my colleague asked me to include references. The only thing I knew about references was when someone recommends you for a job. He told me this was not what he meant. I had to learn as I went along.
My understanding of economics was mostly just memorising theory, until I attended a conference where I met Peter Doyle (former IMF Senior Economist). Peter asked me for comments on his paper, and we arranged to meet for coffee. He noticed some of the students were lacking in knowledge of macroeconomics. Peter told me if I wanted to learn economics, I needed to check out CORE.
That was my turning point. I evolved from being a microeconomist into a macroeconomist, and I’m now able to explain economic concepts much better.
Where are you working now?
Right now, I work with an organisation called AFRODAD (African Forum and Network on Debt and Development). As a policy assistant, I deal with debt and development within African countries. I look at debt sustainability and debt restructuring options. We work with trade unions, feminist organisations, and governments.
Thinking about economics education in Kenya, what challenges does the discipline face?
One of the key problems I’ve experienced is a disconnect between models, arguments, theories, and the practical side of economics. There’s also a disconnect between what you learn in class and real-world policy work. We learn concepts in isolation, but most of these things don’t work in practice the way you’re told they work. Maybe your lecturer is focused on putting the theory in your head, but not showing you how to integrate it with the real world.
In Kenya, we also struggle with data analytics skills. To be an economist you must know how to manage data and pinpoint an issue within broad datasets. This is a skill that we’re really missing out on.
You’ve been vocal in your support of CORE. What do you think sets CORE apart from other economics textbooks?
The thing that really pops out for me is the way the content is organised. It starts with the story, then you go over the basic concepts and models with some practical applications, and you build from there. Most of the economics books I’ve read miss that.
Before this course, I understood unemployment as simply a number of people without jobs. The Economy 2.0: Macroeconomics Unit 1 introduced me to the WS–PS (Wage-Setting and Price-Setting) model, a revelation that transformed this simple figure into the equilibrium outcome of conflicting claims on an economy’s output. The WS curve, representing the wage workers need to be paid for a given level of employment, and the PS curve, representing the real wage firms are willing to pay, provided a clear, graphical tool for analysing the forces that determine both wages and unemployment. The concept of disequilibrium in Section 1.8 was particularly insightful, as it allowed me to understand that economic states are not always stable and that shocks can lead to persistent unemployment.
The final chapters elevated my perspective from a national to a global scale, providing the advanced analytical skills necessary for my current work and academic research. Unit 7, “Macroeconomic policy in the global economy,” was particularly relevant. Prior to this, I had only a superficial grasp of international economics. The curriculum’s exploration of exchange rate regimes (fixed vs. flexible) and their implications for monetary policy revealed the profound constraints and opportunities that global capital mobility presents to national policymakers. The Uncovered Interest Rate Parity (UIP) condition (Extension 7.8), a concept that once seemed abstract, became a tangible tool for analysing global capital flows and interest rate dynamics.
Then there’s the focus on real-world problems. Unit 9 discusses how South Korea and Japan achieved rapid economic growth in the second half of the 21st century. Both countries grew successfully but used different approaches to saving and investment. By comparing the two approaches, students understand how policy, culture, and the state’s developmental strategy can influence saving and investment rates. This idea contrasts with some assumptions of growth models taught in standard introductory economics textbooks, specifically, that saving and investment rates are fixed or are purely rational choices by individual households.
CORE’s growth model teaches the reality that economic outcomes are an interaction between the factors captured in the models we learn and the human world of politics, history, and institutions. That’s what I find so cool; CORE takes an abstract model and uses it to explain real-world economic interactions. I also like the diversity of how CORE captures world events. It references Asia, the US, Africa, and Latin America, so you can relate to what’s really happening across the world. That’s so beautiful.
Finally, the textbook is free! It’s free knowledge for everyone, with links to the data sources. Getting data is not always easy, CORE’s use of it is really helpful.
What challenges do you see economics education facing in the future?
I see two primary and linked challenges looming for economics education.
The first challenge is the rise of Artificial Intelligence. The danger isn’t just about plagiarism; it’s about intellectual stagnation. AI is trained on historical data and existing paradigms. If students rely solely on it, they are processing information that already exists. Economics isn’t about rote learning; it’s about critical analysis, challenging assumptions, and solving new problems. We need students to develop the capacity to build models that don’t exist yet to address evolving challenges like climate change and debt. If we lose the human impulse to dig deeper, to question the model, and to look for original evidence, we lose the capacity for economic innovation. We must teach students how to prompt their own thoughts, not just a machine.
The second problem is fragmentation. For decades, economics has been taught as siloed subjects: micro, macro, and econometrics. This structure doesn’t reflect reality. The great crises of the 21st century including the 2008 financial crash, the COVID-19 shock, or the current inequality crisis, are not purely micro or purely macro. They are integrated problems. You can’t understand persistent unemployment (a macro issue) without understanding the lack of competition and bargaining power in labour markets (a micro issue). Future economists need to be able to jump between levels of analysis from the individual firm to the global financial system using a unified framework. The next generation needs to see the whole system, not just the parts.
Useful links
Beatrice on AFRODAD
Beatrice on ResearchGate
University of Nairobi
