So, a walk out from Greg Mankiw’s class at Harvard. One point made is that:
A legitimate academic study of economics must include a critical discussion of both the benefits and flaws of different economic simplifying models. As your class does not include primary sources and rarely features articles from academic journals, we have very little access to alternative approaches to economics. There is no justification for presenting Adam Smith’s economic theories as more fundamental or basic than, for example, Keynesian theory.
Dear God these people are stupid.
Here’s an outline of Econ 10 at Harvard:
N. Gregory Mankiw, and members of the Economics Department
Full course. M., W., F., at 12. Sections also meet at 9, 10, 11, 12, 1, or 2. EXAM GROUP: 5
Introduction to economic issues and basic principles and methods of economics. Fall term focuses on microeconomics: how markets work, market efficiency and market failure, firm and consumer behavior, and policy issues such as taxation, international trade, the environment, and the distribution of income. Spring term focuses on macroeconomics: economic growth, inflation, unemployment, the business cycle, the financial system, international capital flows and trade imbalances, and the impact of monetary and fiscal policy.
Note: Microeconomics (taught in the fall term) is a prerequisite for macroeconomics (taught in the spring term). Students may elect to take only the fall microeconomics course and receive a half-course credit. Taught in a mixture of lectures and small sections. No calculus is used, and there is no mathematics background requirement. Designed for both potential Economics concentrators and those who plan no further work in the field. The Department of Economics strongly encourages students considering concentration to take the full-year course in their freshman year. This is a required course for all economics concentrators and a prerequisite for higher level courses in economics.
For those who don’t get it, Keynes is studied in macroeconomics, not microeconomics. That is, Keynes is studied next semester, not this semester.
I think we’re getting our proof that Harvard is for the rich thickos, aren’t we?