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An Engine, Not a CameraHow Financial Models Shape Markets$
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Donald Mackenzie

Print publication date: 2006

Print ISBN-13: 9780262134606

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262134606.001.0001

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Theory and Practice

Theory and Practice

Chapter:
(p.68) (p.69) 3 Theory and Practice
Source:
An Engine, Not a Camera
Author(s):

Donald MacKenzie

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262134606.003.0003

This chapter highlights the distinctive approaches adopted by earlier and younger economists in studying and teaching financial economics as an academic discipline in universities across the United States. It finds that earlier economists adopted a more theoretical and institutional approach to studying and teaching financial economics while the younger economists relied on a more analytical and practical approach to studying this academic discipline. An increasing number of research universities started focusing on adopting an analytical and practical approach to teaching financial economics in the United States from the 1970s with the availability of the required study materials and books.

Keywords:   economists, financial economics, United States, academic discipline, research universities

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