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Making sense of the crisis
The Washington Post reports that the University of Maryland's Robert H. Smith School of Business has created a new nine-month program designed to give students the knowledge of finance and banking necessary to understand the current crisis. This is great news indeed, but why stop there? If UM rightly thinks business students should understand the crisis, should it not also ensure that the general student population understands basic economics? UM could in fact set a national standard for economic literacy by instituting an economics requirement. As things stand, only one of the flagship public universities requires economics of its graduates (the University of Alaska at Fairbanks). Perhaps if our students learned the basics of supply and demand, we wouldn't have to worry about teaching them about collaterized debt.
Posted by David Azerrad on February 17, 2009 at February 17, 2009 03:37 PM
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