You’re struggling to make sense of your economics continuing education. What’s the best way to approach it?

I return to the single most important (impactful) macro-economic variable of the 21st century - that's climate risk, and the associated need to transition to a low-carbon economy. The ways in which economists traditionally describe macro-trends no longer apply - attempts to do this via DICE/RICE (Dynamic/Regional Integrated model on Climate and Economy) fell flat. Meant as a meaningful way for economists to educated themselves, along traditional lines, about this macro-change they've achieved the opposite: enabled economists to continue to think of climate risk as a change to an existing worldview. It is not that (I've criticized it in Waking the Frog, Ch 4) and the need to bring bottoms up approach to risk on an asset level is required.

Understanding your goals is crucial in navigating economics education. Clear objectives provide direction, focus efforts, and motivate progress. They tailor learning experiences, foster accountability, and guide decision-making. Goals serve as a compass, ensuring purposeful learning and resilience in the face of challenges. In economics, clarity of purpose is key to success.

Reviewing the basics is essential when navigating challenges in economics education. It provides a solid foundation, reinforcing fundamental concepts and clarifying complex topics. Returning to basics offers clarity, builds confidence, and facilitates deeper understanding. By revisiting core principles, learners can identify gaps in knowledge, address misconceptions, and strengthen comprehension. Embracing the basics is not a step backward but a strategic move toward mastering economics.

Applying knowledge is pivotal in overcoming struggles in economics education. It allows learners to contextualise theories and concepts within real-world scenarios, enhancing comprehension and retention. For instance, analysing UK market dynamics, understanding the impact of interest rate fluctuations on consumer behavior, and observing trends in consumer spending patterns offer practical insights into economic theories. By actively engaging with economic principles in practical situations, students can bridge the gap between theory and practice, fostering a deeper understanding of economics.