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The value in ‘value’: An exercise for pluralising economics instruction
International Review of Economics Education, Volume: 30
Swansea University Author:
Ashley Frawley
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DOI (Published version): 10.1016/j.iree.2018.07.001
Abstract
This paper suggests the concept of 'value' is a useful means of pluralising economics instruction. It proposes the labour theory of value (LTV) and subjective value theory (STV) as contrasting concepts through which to impart an appreciation of economic pluralism at the introductory level...
| Published in: | International Review of Economics Education |
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| ISSN: | 14773880 |
| Published: |
Elsevier
2019
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| Online Access: |
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa41179 |
| Abstract: |
This paper suggests the concept of 'value' is a useful means of pluralising economics instruction. It proposes the labour theory of value (LTV) and subjective value theory (STV) as contrasting concepts through which to impart an appreciation of economic pluralism at the introductory level of social sciences degree programmes. We argue that these contending perspectives on value offer students fundamentally different understandings of social justice and a deeper understanding of the political spectrum. We present a series of active learning exercises designed to introduce students to differences between LTV and STV. The paper presents a qualitative case based report on the difficulties and successes of implementing and modifying the exercises over three years as part of economics instruction for sociology and social policy students. The report finds the intervention to have been broadly successful in encouraging students to engage with economic ideas and draw connections between personal experience, society, economics and politics. |
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| Keywords: |
Value theory, pluralism, economic sociology, social policy, inequality |
| College: |
Faculty of Medicine, Health and Life Sciences |