A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved]
The United Nations’ Principles of Responsible Management Education initiative aspires to transform the relationship between business and society by ensuring that the next generation of business leaders are shaped by management education that conceptualises businesses as generators of sustainable val...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2020-06-01
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| Series: | Emerald Open Research |
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| Online Access: | https://emeraldopenresearch.com/articles/2-38/v1 |
| _version_ | 1811226982263816192 |
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| author | C. Rashaad Shabab |
| author_facet | C. Rashaad Shabab |
| author_sort | C. Rashaad Shabab |
| collection | DOAJ |
| description | The United Nations’ Principles of Responsible Management Education initiative aspires to transform the relationship between business and society by ensuring that the next generation of business leaders are shaped by management education that conceptualises businesses as generators of sustainable value. Simplistic economic models overemphasize the role of narrow profit maximization on the part of firms in generating broader economic wellbeing. More nuanced views of the relationships between firms and the societies in which they operate, such as those that allow for market power in product and labour markets, for the presence of externalities in the production of goods and services, for a role of the state in the provision of public goods, and for the existence of market failures more generally, offer profoundly different advice to aspiring practitioners of responsible management. This article proposes an introductory economics curriculum for management students that gives due emphasis to these more nuanced perspectives and thus equips aspiring business leaders with the skills they will need to build profitable enterprises that also fulfil the objective of generating sustainable value as envisioned by the Principles of Responsible Management Education. |
| first_indexed | 2024-04-12T09:34:37Z |
| format | Article |
| id | doaj.art-ac91741965e04ec182b0563a70ac3441 |
| institution | Directory Open Access Journal |
| issn | 2631-3952 |
| language | English |
| last_indexed | 2024-04-12T09:34:37Z |
| publishDate | 2020-06-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Emerald Open Research |
| spelling | doaj.art-ac91741965e04ec182b0563a70ac34412022-12-22T03:38:16ZengEmerald PublishingEmerald Open Research2631-39522020-06-01214855A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved]C. Rashaad Shabab0https://orcid.org/0000-0002-0414-9166Department of Economics, University of Sussex, Falmer, East Sussex, BN1 9SL, United KingdomThe United Nations’ Principles of Responsible Management Education initiative aspires to transform the relationship between business and society by ensuring that the next generation of business leaders are shaped by management education that conceptualises businesses as generators of sustainable value. Simplistic economic models overemphasize the role of narrow profit maximization on the part of firms in generating broader economic wellbeing. More nuanced views of the relationships between firms and the societies in which they operate, such as those that allow for market power in product and labour markets, for the presence of externalities in the production of goods and services, for a role of the state in the provision of public goods, and for the existence of market failures more generally, offer profoundly different advice to aspiring practitioners of responsible management. This article proposes an introductory economics curriculum for management students that gives due emphasis to these more nuanced perspectives and thus equips aspiring business leaders with the skills they will need to build profitable enterprises that also fulfil the objective of generating sustainable value as envisioned by the Principles of Responsible Management Education.https://emeraldopenresearch.com/articles/2-38/v1Economics education introductory economics responsible management management training.eng |
| spellingShingle | C. Rashaad Shabab A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] Emerald Open Research Economics education introductory economics responsible management management training. eng |
| title | A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] |
| title_full | A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] |
| title_fullStr | A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] |
| title_full_unstemmed | A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] |
| title_short | A PRiME perspective on economics curriculum design [version 1; peer review: 3 approved] |
| title_sort | prime perspective on economics curriculum design version 1 peer review 3 approved |
| topic | Economics education introductory economics responsible management management training. eng |
| url | https://emeraldopenresearch.com/articles/2-38/v1 |
| work_keys_str_mv | AT crashaadshabab aprimeperspectiveoneconomicscurriculumdesignversion1peerreview3approved AT crashaadshabab primeperspectiveoneconomicscurriculumdesignversion1peerreview3approved |