When I met recently with James Gwartney, the highly-esteemed Florida State University economist, I expected Dr. Gwartney to be pleased to learn that my high school son Richard was following up a required semester of AP Macroeconomics by taking an AP Microeconomics course as an elective.
After all, Dr. Gwartney had inspired Richard to study economics at a Milton Friedman Day luncheon last July. And Dr. Gwartney has a passion for helping students share his passion for economic reasoning.
But Dr. Gwartney’s response to my enthusiastic report was rather chilly to say the least. In fact, it felt like a cold shower. And with good reason, I would come to learn.
Dr. Gwartney and two of his colleagues recently published a scholarly article in the Econ Journal Watch which takes aim at the content in both Advanced Placement economics courses. Gwartney & Co. say these courses tend to play down the most interesting and important aspects of economics courses – introducing students to economic reasoning – while overemphasizing the more mechanistic aspects of the discipline.
In addition, Gwartney and his colleagues say AP economics courses need to give greater emphasis to “the integration of property rights, entrepreneurship, and dynamic competition.” And they say that AP economics courses need to correct a serious imbalance in the way that markets and governments are presented.
“‘Market failure’ is a component of the courses,” they note, “but there is no parallel treatment of ‘government failure.'”
Lest there be any doubt, Gwartney and his colleagues aren’t dismissive of all content in AP economics courses. Their article devotes appropriate attention to “the good” in these courses, while exposing “the bad and the ugly.”
But Gwartney & Co. think some major course corrections are needed, especially since AP economics courses tend to attract many of our nation’s brightest high school students. They say, “It is important that these students are equipped with the tools of economic reasoning and an accurate view of the current state of scholarship in the field.”
To see their full article, go to: http://econjwatch.org/articles/advanced-placement-economics-the-good-the-bad-and-the-ugly
William Mattox is a resident fellow at The James Madison Institute, a public policy research organization in Tallahassee, Florida.
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