Experiments versus Econometrics: Implications for Teaching Economics

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Experiments versus Econometrics: Implications for Teaching Economics Professor Kim Hawtrey Hope College MI The dominant empirical paradigm in economics and many other social sciences is econometrics, which involves the use of statistical methods to identify patterns in data. In turn, this can lead to a quantitative and mathematical approach to teaching and learning, which can have both positive and negative consequences for the educational process. An emerging alternative methodology is experimentation, which is more akin to the physical sciences and involves the use of laboratory techniques, one that opens up fresh possibilities for the teacher to develop students in new directions. This paper explores this frontier with particular emphasis on the role experimental economics can play in enhancing the teaching and learning of economics.

Keywords: Experimental, Economics, Teaching
Stream: Curriculum and Pedagogy; Student Learning, Learner Experiences, Learner Diversity
Presentation Type: Paper Presentation in English
Paper: Experiments versus Econometrics

Prof. Kim Hawtrey

Professor of Economics, Department of Economics, Management and Accounting, Hope College
Holland, MI, USA

Kim Hawtrey is Professor of Economics at Hope College Michigan. He came from Macquarie University Australia and publishes internationally on banking and finance. In 2007 he received a prestigious National Carrick Award for Teaching Excellence from the Australian Government, in 2006 an Outstanding Teaching Award from Macquarie University, and in 2005 was chosen as AFAANZ/Pearson Finance Lecturer of the Year, an international competitive teaching award. Experiential learning lies at the heart of Kim Hawtrey’s teaching philosophy, yet is still rare in his teaching context: the discipline of economics. The approach he has pioneered has taken ten years to evolve and aims to help students be better equipped to become lifelong learners by learn about learning itself, gaining self-awareness of their own learning style in the process. Prior to academia Kim Hawtrey was Chief Economist at Colonial State Bank and an Economic Advisor at the Reserve Bank of Australia. He holds a Bachelor of Economics with First Class Honours from the University of Sydney, a PhD from the University of New South Wales, and a Certificate in Monetary Economics from the Universidade Tecnica de Lisboa Portugal.

Ref: L08P0425