Sunday, October 14, 2007

Robert Frank on the difficulty of intro economics education

It’s not that we’re stupid, but we use heuristics, we use rules of thumb, and the heuristics work well enough on average across a broad range of circumstances, but unless you really understand the logic of weighing costs and benefits, it’s very easy to be fooled into making the wrong decision.
So,
You can get information into the student’s brain in the form of equations and graphs, yes, but it’s a lot of work to do that. If you can wrap the same ideas around stories, around narratives, they seem to slide into the brain without any effort at all. After all, we evolved as storytellers; that’s what we’re good at.

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