An Alternative Pedagogy for Economic Modelling

There is an awareness amongst teachers of economic modelling that new teaching methodologies and pedagogies are needed. This paper examines the weaknesses of traditional teaching methods and suggests that System Dynamics would be a useful supplement to the learning process for typical economics undergraduates. A brief description is given of the key features of the System Dynamics methodology and an illustrative example has been chosen. This is the multiplier-accelerator model of Samuelson. The System Dynamics approach is compared with more traditional approaches and several pedagogical points are emphasised.