Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?

With the aim of improving modern methods for educating economists, the authors in this paper impose the following topics: What do we want to teach students, and do we teach them the right things? How transformative are our fundamental textbook bases to offer the new knowledge that the digital econom...

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Autores principales:	Vujica Lazovic, Biljana Rondovic, Danijela Lazovic, Tamara Djurickovic
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	digital economy economic theory economics textbooks principles of economics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/d9d62858a0b34a1dbe6e01b7e910a08c
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spelling	oai:doaj.org-article:d9d62858a0b34a1dbe6e01b7e910a08c2021-11-25T19:03:41ZIs Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?10.3390/su1322127052071-1050https://doaj.org/article/d9d62858a0b34a1dbe6e01b7e910a08c2021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12705https://doaj.org/toc/2071-1050With the aim of improving modern methods for educating economists, the authors in this paper impose the following topics: What do we want to teach students, and do we teach them the right things? How transformative are our fundamental textbook bases to offer the new knowledge that the digital economy imposes? Bearing in mind previous questions, the aim of this paper is to highlight the gap that exists between economic theory and economic practice in terms of insufficient theoretical scope of the digital economy (DE) and its study, and DE’s increasing participation in global practice as an economy based on innovation and new technologies. In the analysis, the authors concentrate on two levels: (1) they analyse the specifics of DE and in that context, they evaluate the applicability of traditional economic theory; (2) they review the representation of DE in university textbooks. Based on the results, the authors conclude that DE possesses specific attributes, and it is necessary to include these as mandatory lessons in university textbooks on the level of basic studies. They suggest some areas for which economic theory should be better explained and supplemented in future research (proposing appropriate guidelines for future efforts in theoretical work). Moreover, through a systematic literature review, the authors approach 90 basic university textbooks in economics and by analysing their content, they prove that DE is not sufficiently represented in them. The results of the paper suggest that economics textbooks, and thus the curricula of basic studies, should be supplemented with chapters on the digital economy, which will affect the modernization and adequacy of theory with practice.Vujica LazovicBiljana RondovicDanijela LazovicTamara DjurickovicMDPI AGarticledigital economyeconomic theoryeconomics textbooksprinciples of economicsEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12705, p 12705 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	digital economy economic theory economics textbooks principles of economics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	digital economy economic theory economics textbooks principles of economics Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Vujica Lazovic Biljana Rondovic Danijela Lazovic Tamara Djurickovic Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
description	With the aim of improving modern methods for educating economists, the authors in this paper impose the following topics: What do we want to teach students, and do we teach them the right things? How transformative are our fundamental textbook bases to offer the new knowledge that the digital economy imposes? Bearing in mind previous questions, the aim of this paper is to highlight the gap that exists between economic theory and economic practice in terms of insufficient theoretical scope of the digital economy (DE) and its study, and DE’s increasing participation in global practice as an economy based on innovation and new technologies. In the analysis, the authors concentrate on two levels: (1) they analyse the specifics of DE and in that context, they evaluate the applicability of traditional economic theory; (2) they review the representation of DE in university textbooks. Based on the results, the authors conclude that DE possesses specific attributes, and it is necessary to include these as mandatory lessons in university textbooks on the level of basic studies. They suggest some areas for which economic theory should be better explained and supplemented in future research (proposing appropriate guidelines for future efforts in theoretical work). Moreover, through a systematic literature review, the authors approach 90 basic university textbooks in economics and by analysing their content, they prove that DE is not sufficiently represented in them. The results of the paper suggest that economics textbooks, and thus the curricula of basic studies, should be supplemented with chapters on the digital economy, which will affect the modernization and adequacy of theory with practice.
format	article
author	Vujica Lazovic Biljana Rondovic Danijela Lazovic Tamara Djurickovic
author_facet	Vujica Lazovic Biljana Rondovic Danijela Lazovic Tamara Djurickovic
author_sort	Vujica Lazovic
title	Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
title_short	Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
title_full	Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
title_fullStr	Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
title_full_unstemmed	Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?
title_sort	is economic theory, presented in basic academic textbooks, applicable to the digital economy?
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/d9d62858a0b34a1dbe6e01b7e910a08c
work_keys_str_mv	AT vujicalazovic iseconomictheorypresentedinbasicacademictextbooksapplicabletothedigitaleconomy AT biljanarondovic iseconomictheorypresentedinbasicacademictextbooksapplicabletothedigitaleconomy AT danijelalazovic iseconomictheorypresentedinbasicacademictextbooksapplicabletothedigitaleconomy AT tamaradjurickovic iseconomictheorypresentedinbasicacademictextbooksapplicabletothedigitaleconomy
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Is Economic Theory, Presented in Basic Academic Textbooks, Applicable to the Digital Economy?

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