The best thing a human being can do is to help another human being know more.
— Charles Munger
According to Elon Musk, America’s greatness is based on two principles: meritocracy and personal freedom. In teaching, these two principles sometimes collide! I am trying to reconcile them. How? By setting clear rules and standards at the outset of each course and sticking to them as if my life depended on it!
Students who use their personal freedom to skip classes, assignments, and exam preparation often suffer a head-on collision with the principle of meritocracy when they eventually get the grades they have earned. To avoid nasty surprises I am giving the students in my courses tests every week (in addition to midterm and final exams). This way, students can see their progress and adjust their efforts accordingly if they are headed for failure. Many students find such treatment too harsh! I find it fair! After all, the freedom to take the consequences is the freedom upon which all other freedoms are based…
The biggest challenge I face? Тhe fallout from the screen addiction calamity!
Over time, I have been developing the following courses:
- Microeconomics: how people respond to incentives and gain from cooperation through markets.
- Macroeconomics: how individual optimization and interaction result in aggregate outcomes in the short-run; how institutions, technology and historical processes shape long-term economic performance.
- Financial Economics: how resources are allocated over time in an uncertain world.