The third episode of Freakonomics Radio, out in a few days, asks the question: What would the world look like if economists were in charge? In the meantime, a charter school organization in Arizona offers a glimpse at what the educational system would look like if economists were in charge. The BASIS Educational Group, run by two economists, requires every 8th-grade student to take a year’s worth of economics. Many BASIS students, who are all required to take at least six AP exams before graduation, go on to take AP Economics in 9th grade, and average a 4 (out of 5) on their AP exams. “Our students learn to love economics early on, and we hope that passion will continue long into life. Their interest in continuing economics study in high school (when it is no longer required, but rather offered as an elective) proves how fundamentally positive their early experience with the material is,” writes Paul Morrissey, the Upper School Director of BASIS Scottsdale. BASIS also offers incentive-heavy contracts to teachers; and all staff members are on one-year contracts.[%comments]
If Economists Ran the Schools
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Great idea. We don’t have enough people running around wedded to the hubris of their economic thinking. Why wait until these kids are in college to turn them into brainwashed free-market zombies? They could be ignoring empirical data and reality right now!
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Good idea! But why not start economics education sooner? Say, in kindergarten.
Actually if academic economists ran schools, they would not be accountable since they’ll demand tenure. However everyone would be forced to be “accountable.”
So simple… and yet the teachers unions will make sure it’s never implemented on any sort of meaningful scale. Very very sad.
I’ve often wondered what would happen if we just paid the students to learn, rather than paying teachers to teach them. It’s an interesting idea, anyway.
Newsflash: Schools focused on certain principles do better than aimless ones. News at eleven.
So if economists ran the schools….they would teach economics in 8th grade? Wow! What’s the big whoop dee doo?
I do like how this immediately brings out the anti-union and other political feelings/leanings. Enjoy your weekend! (brought to you by the unions)
@WF
Researchers have actually looked at this. Students that are paid to learn lose interest when the financial incentive goes away. In fact, giving them any kind of direct reward – even gold stars – has the same effect. What you really need to do to get kids to learn is give them a love of learning. In other words, make them nerds, like people who read this blog.