It’s time to change EC 5

For one of the most commonly taken classes, Principles of Economics (EC 5) is one of the least liked. As a senior majoring in economics with a strong appreciation for the discipline, this disconnect is frustrating. I came to Tufts thinking I may want to major in Math or French, but I saw something beautiful in the graphs we drew in EC 5 and decided to continue on the econ path. Since my freshman year when I took my first economics class, I have had the chance to reflect on my time studying economics, including my experience with EC 5. The class presents the basics of supply and demand, interest rates and elasticity, but it fails to convey economics as a discipline.

Let me back up a bit. Freshman year, I took Introduction to Sociology, a peer of economics in the social sciences, and we learned about sociological concepts in a topical way. One week we focused on the role of women in the home and at work, another week we took a deep dive into an inner-city gang. There’s no reason that EC 5, despite the fact that it involves some more math, should not introduce everyone to topics within economics.

I propose that in addition to reading the textbook and learning micro and macroeconomic models, the class include relevant economics articles in both journals and newspapers. These articles will allow students to see the applications of the models they are learning about, as well as gain exposure to the various fields within economics. After studying various types of competition, for example, students may read an article about a recent merger or acquisition and its impact on that particular industry and the economy, offering a view into the financial world. After studying supply and demand, it would be fitting to read an article about price theory in a developing country for a foray into development economics. And price discrimination offers a great opportunity to introduce the field of behavioral economics.

In addition to going over concepts learned in lecture, recitation should offer an opportunity for students to discuss the articles they read. Economics is often seen as a quantitative discipline where students listen to the professor, draw graphs and prove theories. As a social science, however, the discipline also lends itself to vibrant discussions on a host of topics. After taking EC 5, students may come away with the ability to draw supply and demand graphs to determine the equilibrium price, but they have no good sense of how an economist approaches answering a question. This unique approach is why I love economics. I love the tools more than the content, and EC 5 should include these tools. Economics, at its heart, is the study of resource allocation and how people respond to incentives: it is not the study of intersecting lines.