The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in...

This paper provides insight into the skill development activities of graduate students at U.S. institutions providing graduate education in economics. It documents the extent of student participation in and preparation for research and teaching activities while in graduate school. Over fifty...