If you were queen for a day and could require all students to read one book in the field of economics, what would it be and why?
Queen Elizabeth II has retained her position for so long by keeping her views to herself. But, in this hypothetical world, I would tell students to read Economics for the Common Good, by Jean Tirole. In contrast to Freakonomics, which popularizes economics by picking on "quirky" applications, Tirole tries to make the breadth of academic economics meaningful to people. It talks about the economics that I believe in--as a way of looking at the world to make it a better place. And it is very eloquently and elegantly written.
What’s the biggest difference between the way economics is taught in the U.K. and in other countries?
Unlike the US, UK school students not only have to apply to a particular college/ university, they also have to say in advance what they want to study. This means that they choose to study economics—or something else—when they are 16 or 17. At this stage most don't really know what economics is about/ think it's about money and finance (because I haven't been made queen to tell them to read Tirole's book). Many UK universities are embracing the core-econ (www.core-econ.org/) curriculum which introduces economics as a way of understanding the big issues of our time. But unless we reach out to school students, most of them won't really be aware of the breadth of economics. In the UK, economics is mainly studied by men—and also disproportionately attracts students from private schools. We are just beginning to wake up to the need to engage more with local schools.
