Faculty Role Models and Diversifying the Gender and Racial Mix of Undergraduate Economics Majors

The sex, race, and undergraduate composition of newly minted Ph.D.s in economics is analyzed. Liberal arts colleges are shown to yield a disproportionate number of female economists while economists of color tend to come from comprehensive universities.     

What made Economists so Politically Influential? Governance-related Ideas and Institutional Entrepreneurship in the Economic Liberalisation of Israel and beyond

Liberal economists are known to be one of the driving forces behind economic liberalisation in various countries, but how did they become so politically influential? Constructivists generally suggest that during economic crises liberal economists persuaded decision-makers to adopt pro-market policy ideas as solutions for economic turbulence. While this answer is true, it is also only partial because it disregards the role played by governance-related ideas and institutional entrepreneurship in the political actions of liberal economists. I argue that ideas regarding decision-making mechanisms provided liberal economists with the basis for creatively exploiting pre-liberalisation institutions, such as central banks and central budget offices, through which these economists enhanced their long-term political influence. An in-depth examination of a paradigmatic case of economic liberalisation driven by liberal economists – Israel's Stabilisation Plan – exemplifies that argument. The existence of like-minded economists and similar pre-liberalisation policy-making institutions in many other countries hints that the Israeli experience is not unique.     

Reviewers for Volume 41

The authors document the types of undergraduate colleges and universities attended by those who earned a doctorate in economics from an American university from 1966 through 2003. They examine relationships between type of undergraduate institution and attrition and time-to-degree in PhD programs. The total number of new economics PhDs awarded to U.S. citizens has declined precipitously over the past 30 years. Concurrently, the number of new economics doctorates who hold undergraduate degrees from U.S. universities has fallen by half, from a high of about 800 in 1972 to about 400 in 2003. Among those who have earned undergraduate degrees from American institutions, the mix of schools attended by the doctorates has remained relatively stable, with about 55 percent of those who earn a PhD in economics each year holding their bachelor's degree from a university that offers a PhD in economics and a bit more than 10 percent holding a bachelors degree from a selective liberal arts college. Currently, 18 of the 25 American undergraduate institutions that send the largest percentage of their graduating classes on to earn a PhD in economics are liberal arts colleges. Graduates of liberal arts colleges also have shorter time-to-degree and higher verbal Graduate Record Exam (GRE) scores than other economics PhD students.     

The Research Assessment Exercise, the state and the dominance of mainstream economics in British universities

In previous research on the impact of the Research AssessmentExercise on heterodox economics and heterodox economists inthe UK, the author concluded that reliance on Diamond List journalsto rank departments would drive economic departments to discriminatepositively in terms of their hiring, promotion and researchstrategies in favour of mainstream economists and their research,in order to maintain or improve their ranking. As a consequence,the author predicted there would be no or only a token presenceof heterodox economists in an increasing number of departments.Whether the conclusions still hold and the predictions materialiseis the subject of the paper.     

Econometrics as a Capstone Course in Economics

The author describes an econometrics capstone course design at a large public university that offers economics degrees in both business (BBA) and liberal arts (BS). The goal of the capstone is to provide a research experience similar to those in the honors college but on the smaller scale of a one-semester course. The revisions for converting an existing course to a capstone, the student activities adopted, and sample outcomes are addressed. The hurdles overcome within the respective colleges in order to create a capstone course are discussed. Summaries of several student projects as well as publication of faculty-mentored student research papers illustrate the viability of econometrics as a capstone course for institutions unable to establish a stand-alone research course for that purpose.     

The Structure of the Introductory Economics Course in United States Colleges

The authors examine class size, teaching methods, and the one-semester/two-semester organization of the first course in economics, where colleges and universities are classified into five broad categories, from liberal arts colleges to research institutions. Student satisfaction with respect to their institution is also reported.     

Citations of Most Often Cited Economists: Do Scholarly Books Matter More than Quality Journals?

This paper empirically investigates the determinants of citations based on the publication of the top 100 most often cited economists. The effects of publication age and author fame on subsequent citations are found to be positive and significant. Citations are also significantly affected by popular subfields in economics. However, journal quality measures, such as impact factors, download statistics and top‐4 elite journals, have insignificant effects on citations. In contrast, the citation effect of scholarly books is positive and significant, and its impact is even greater than those of journal quality measures.     

Evaluating The Research Output Of Australian Universities' Economics Departments

This paper presents measures of the research output of Australian economics departments. Our study covers the 640 academic staff at rank Lecturer and above in the 27 Australian universities with economics departments containing eight or more staff in April 2002. We construct publication measures based on journal articles, which can be compared with weighted publication measures, and citation measures, which can be compared with the publication measures. Our aim is to identify the robustness of rankings to the choice of method, as well as to highlight differences in focus of departments' research output. A striking feature of our measures is that the majority of economists in Australian university departments have done no research that has been published in a fairly long list of refereed journals over the last dozen years. They may publish in other outlets, but in any event their work is rarely cited. Thus, average research output is low because many academic economists in Australia do not view research as part of their job or, at least, suffer no penalty from failing to produce substantive evidence of research activity.     

The Status of Econometrics in the Economics Major: A Survey

In this article, the authors describe the place of econometrics in undergraduate economics curricula in all American colleges and universities that offer economics majors as listed in the U.S. News & World Report “Best Colleges 2010” guide (U.S. News & World Report 2009). Data come from online catalogs, departmental Web sites, and online course syllabi. About one-third of the schools require econometrics of all students majoring in economics, about half require it of none, and a sixth require it of some, but not all, economics majors. Among universities with economics PhD programs and liberal arts colleges, almost all those ranked in the top 10 require it. Below the top 10, there is little correlation between ranking and econometrics requirements. Liberal arts econometrics classes are much more likely to require research projects than their counterparts in universities.     

Perspectives for Post-Keynesian Economics

The paper reviews and assesses the negative and positive advice which has been offered by various fellow economists to heterodox economists in general, and Post-Keynesian economists in particular, in light of changes that have occurred within neoclassical economics and in light of the rising hegemony of mainstream economics in economics departments. Various strategies are considered, among which is more engagement with orthodox dissenters, but it is concluded that the majority of heterodox economists ought instead to engage more with other heterodox economists and possibly other social sciences, developing and expanding their own agenda around real-world problems.     

Doing Economics: Enhancing Skills through a Process-Oriented Senior Research Course

The author describes a senior-level course designed to promote student skills in "acting like economists." Although most departments offer senior-level courses, this one is unique in that it was developed on the basis of learning as opposed to content objectives, assignments are designed to reinforce and further develop research skills through a project of the student's choosing, and it more closely models what it means to "act like an economist" (W. L. Hansen 2006). The author discusses the development of this course and its unique features, the research process followed by students and the outcomes generated, and some of the advantages and disadvantages associated with this form of senior research course.     

Research Productivity in Business Economics: An Investigation of Austrian,German and Swiss Universities

Abstract. We draw on a new and comprehensive dataset that collects the research output of business economists employed by Austrian, German and Swiss universities. We compute research rankings of departments and identify the leading departments in selected subdisciplines. Moreover, we investigate how institutional design and individual characteristics affect research productivity and draw some conclusions for the training of junior scientists.     

ASSESSING THE RELATIVE IMPACTS OF ECONOMIC EDUCATION SCHOLARSHIP: AN APPLICATION OF THE HARZING DATABASE

Despite the rising prominence of economic education scholarship, little work has been done to document how economic education scholarship is faring in the academic world. Unlike prior research in this genre, this study assesses the relative impacts of economic education scholarship by examining published research in (strictly) economic education journals. In order to do so, we use the Harzing database of citations to articles published in (strictly) economic education journals from 1990 to the present. Supporting some of the measures found in prior research, we find that the Journal of Economic Education (JEE) is unambiguously the dominant source of influential scholarship in the field of economic education. Interestingly, the JEE's closest competitors among active economic education journals are the International Review of Economics Education and Computers in Higher Education Economics Research, both of which are published under the auspices of the Economics Network, which is located in the UK. Following these two journals in our ranking is the Journal of Economics and Finance Education, a relatively new journal launch.     

Getting past “rational man/emotional woman”: comments on research programs in happiness economics and interpersonal relations

Orthodox neoclassical economics portrays reason as far more important than emotion, autonomy as more characteristic of economic life than social connection, and, more generally, things culturally and cognitively associated with masculinity as more central than things associated with femininity. Research from contemporary neuroscience suggests that such biases are related to certain automatic processes in the brain, and feminist scholarship suggests ways of getting beyond them. The “happiness” and “interpersonal relations” economics research programs have made substantial progress in overcoming a number of these biases, bringing into consideration by economists a wide range of phenomena which were previously neglected. Analysis from a feminist economics perspective suggests several fronts on which research could most profitably continue.     

Taxation in the Liberal Tradition

The Review of Austrian Economics - In this essay, we argue that liberal economists should take more seriously the problems of public goods and externalities as well as the capacity of taxation and...     

The life cycle of scholars and papers in economics – the ‘citation death tax’

The information content of academic citations is a subject to debate. This article views premature death as a tragic ‘natural experiment’, outlining a methodology identifying the ‘citation death tax’ – the impact of the death of productive economists on the patterns of their citations. We rely on a sample of 428 papers written by 16 well-known economists who died well before retirement, during the period 1975 to 1997. The news is mixed: for half of the sample, we identify a large and significant ‘citation death tax’ for the average paper written by these scholars. For these authors, the estimated average missing citations per paper attributed to premature death ranges from 40% to 140% (the overall average is about 90%), and the annual costs of lost citations per paper are in the range 3–14%. Hence, a paper written 10 years before the author's death avoids a citation cost that varies between 30% and 140%. For the other half of the sample, there is no citation death tax; and for two Nobel Prize-calibre scholars in this second group, Black and Tversky, citations took off over time, reflecting the growing recognitions of their seminal works.     

International impact of Austrian economists

This paper attempts to document the contributions of Austrian economists to the development of economics. To this purpose we investigated the publications in international economics journals as well as citations of Austrian economists in the period from 1980 to 1989. Our results show only a very limited presence of Austrian economists in the ongoing scientific discussions, with marked differences between university departments.

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Zusammenfassung Die vorliegende Arbeit versucht, den Beitrag österreichischer Universitäts- und Forschungsinstitute zur internationalen Forschung in den Wirtschaftswissenschaften anhand von Publikationen und Zitationen für den Zeitraum 1980 bis 1989 quantitativ zu erfassen. Die Ergebnisse zeigen, daß österreichische Ökonomen in internationalen, besonders in anglo-amerikanischen Zeitschriften wenig präsent sind, wobei erhebliche Unterschiede zwischen den einzelnen Universitätsinstituten bestehen.

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We are greatly indebted to R. Niegl (Universitätsbibliothek Wien), D. Spenger (University of Regensburg), and H. Wurm (University of Vienna) for compiling and processing the data.The circulation of earlier drafts as well as the presentation of our study at WIFO and IHS has aroused various responses, comments, and suggestions, most of them very interesting and stimulating, but too numerous to thank each of our colleagues individually. We feel, however, especially indebted to Gunther Tichy and Alexander Van der Bellen for their extensive written comments. Finally, we would like to thank three anonymous referees and the editor for valuable suggestions.     

The neglect of the French liberal school in Anglo-American economics: A critique of received explanations

Conclusion My purpose in this article has been to demonstrate that the contributions of the French liberal school to economic theory were recognized and utilized by some economists who are generally considered to have played prominent roles in the initial development of modern marginalist economic theory or who have anticipated and influenced such development. If this much is accepted, then the attempt of Schumpeter and other scholars to explain the Anglo-American neglect of the liberal school in terms of the latter's analytical sterility or indifference immediately founders. While an alternative explanation has not been provided, considerable progress has been made by radically shifting the focus of research from alleged analytical shortcomings of the liberal school to the identification of the institutional factors that have impeded recognition by (most) English-speaking economists of the substantive theoretical content of liberal economics.     

Publication Performance of Economists and Economics Departments in Turkey (1999–2003)

This is the first study evaluating the publication performances of economists and economics departments in Turkey. The international (article) publication performance of Turkish economic departments in general is found to be rather poor. There is a wide gap in particular between the top five universities and the economists affiliated to them and those outside the top five. The paper also provides evidence in favour of private higher education. The publication patterns of economists in Turkey are shown to be similar to those of their counterparts in the rest of the world.     

The Handelsblatt Rankings 2.0: Research Rankings for the Economics Profession in Austria,Germany, and Switzerland

The distinguishing feature of all Handelsblatt rankings published over the last ten years is that they could draw on premium quality bibliometric data. We present here the new method used by KOF and DICE to compile the 2017 Handelsblatt Rankings of university departments and individual economists. As in previous years, the rankings are based on quality weighted journal publications. We show that the benchmark results are robust to various changes in the employed method, in particular to changes in the convexity of the journal quality weighting scheme. In conclusion, we show how the collected data can be used to provide customized evaluations of entire academic careers of individual economists.