Peter Bayer

Not a meme this year but let's go.

Poster: THE NOBEL PRIZE IN ECOLOGY 2025 Kyrylo Budanov Vasyl Maluk Robert Brovdi "for reducing fossil fuel production in russia" THE NOBEL ASSEMBLY AT KAROLINSKA INSTITUTET

For your consideration:

Lund University Department of Economics is hiring in Microeconomic Theory! The department combines high academic standards with a very friendly atmosphere. Lund is a lovely university town with excellent links to the rest of the world. Six year tenture track: econjobmarket.org/positions/11...

My favorite conversations are when people invoke market failures and it turns out that it's true, except that the failure was created by government policy.

You only have set difference? No unions, intersections, or complements? Because if it's just the one set operation used consistently, A - B may be rationalizable (but those who sacrifice rigor for popularity deserve neither and shall lose both) but if you use the others, then for sure not.

The first Roman calendar started counting from March. Before Caesar and Augustus they even had Quintilis and Sextilis.

Which means if it wasn't for Augustus we'd have a whole month of Sex in the summer.

@safety.bsky.app
You have suspended a prominent Ukrainian account, one of the very few that is covering daily russian attacks, as a result of report bombing.

Please unban Mira of Kyiv @reshetz.bsky.social

Imagine if all that effort could go into bringing students quality education on the nature and cost of inequality? Or on effective policies to deal with the cost of living crisis? Or environmentally sustainable growth? Nothing would please us, students and teachers, more.

...allow professors to condense the theory without having to make too many comprises on quality. In fact, a lot of existing innovation effort is already directed to make economics education easier and lighter on math, something that a lot of professors are uncomfortable with.

To unpack (2), I note that economics, even the modern, much more empirically-minded science, is a highly mathematical field. Students who struggle in our classrooms tend to be the ones who hated math in high school. Focusing more on math background at the admission level would...

To speed up innovation, I'd call for two things. (1) start teaching economics in high schools. This would add slack to the tight university curriculum (incidentally, it might also solve many problems flowing from economic illiteracy, such as low-quality cricism). (2) changing admission requirements.

Anyone who feels economic education needs reform, especially along the lines mentioned are invited to look deeper. Also keep in mind that a personal dislike of results or rehashed arguments from the 80s on the limits of neoclassical economics is not a valuable contribution at this point.

This presents a difficulty. For the outside observer (good-faith or not) it's probably unclear whether and where the curriculum is evolving. But it is! And even 17 years ago I have been thought externalities, public goods, and the environmentally responsible management of (non-)renewable resources.

Both types of solutions have advantages and disadvantages. Which is great because we are producing more diverse economists and we can leverage the advantages of both while keeping each other honest. But innovate or not, the core subjects are (and should remain) still Micro, Macro, and Metrix.

Some departments simplify the material and condense the theory to make room for more content (especially for critical reviews of neoclassical results). Some departments stick to rigorous theory due to a combination of inertia, professional conservativism, or just a lack of resources to innovate.

The picture the op-ed is painting is difficult to reconcile with reality for people who study and teach economics. The field has changed a LOT in the last two decades. Economics professors have devoted a LOT of time to rethink how much theory students need and have come up with various solutions.

...or, if you just want more electives and add to the optional "softer" classes, you'll need to make arguments for economic departments to invest into these fields and employ professors focused on them. You can best do this by producing quality research on those topics (again, not attempted).

(b) is annoying because it leaves little wiggle room for curricula. If you want to add stuff, you'll have to remove stuff. You'd have to make a compelling argument why Micro, Macro, or Metrix shouldn't be taught to economics students... (most people don't attempt this)

Annoyingly, all three core subjects are (a) theory-heavy, (b) absolutely necessary for economists. (a) is annoying because there is a series of building blocks students have to go through in order to understand the material. You can't start most 18-year-olds on partial differential equations.

There will be other, "softer" classes. In Hungary, I've taken stuff like general philosophy, history of economic thought, economic history, economic law, EU integration (yawn), and accounting (pain). Based on what I've seen in Germany, the Netherlands, France, and Spain, this is run of the mill.

When you enter an economics program, these three will be the core subjects you'll take. There will be thematic classes with different names but they'll clearly belong on one of the three groups (e.g., international trade-> Macro, stochastic processes-> 'Metrix, environmental economics(!!!)-> Micro).

The majority of economics is three core subjects organized around two topics: (1) Micro, how economic decisions are made (by individuals, groups, or firms) and (2) Macro, how country-level economic phenomena evolve under various policies. The third thing is (3) Econometrics, the statistical toolkit.

I don't usually post but I'll make an exception for this. (Why) are economics curricula outdated?

Reflecting on this... writing.
www.ft.com/content/9aab...

Reciprocity evolves more readily in competitive than cooperative socio-ecologies | Proceedings of the Royal Society B: Biological Sciences Tracking what others did and matching other’s expected actions is seen across a range of biological systems. As reciprocal matching rewards and reinforces cooperators and punishes and discourages non-...

🚨New article in Proc B:
"Reciprocity evolves more readily in competitive than cooperative socio-ecologies"

Using agent-based evolutionary models, we show that reciprocity emerges more reliably in competitive environments with high exploitation risk.

🔗 royalsocietypublishing.org/doi/10.1098/...

I've made my masterpiece

I see a higher order mistake more often — attributing to economists a straw man version of economics that is not representative of the field.

Pretty sure it's the Nobel Foundation that established it, not "the economists". I for sure wasn't asked.

But if you think this makes economists worthy of mockery, by all means mock away. I find the salt very entertaining so I'll mock back relentlessly. I'll try to find a better meme for next year.

"Oh it's that time of the year again"

A nagy titkosszolgálati drogjátszma – amikor a magyar Chinoin látta el kábítószerrel Amerikát | Válasz Online

TIL that the People's Republic of Hungary was supplying the US with drugs for decades, sparked a methaqualone epidemic that killed tens of thousands, and my granddad helped put an end to it.