Real World Economics
Real World Economics (RWE) is an organisation formed under the umbrella of Make A Difference with Economics (MADE). RWE seeks to help students to apply their economics knowledge in an environment which they would not normally have in conventional lectures. Though RWE is primarily for economics students, several students from various departments and faculties have been involved.
RWE is different from lecturers in the way that it allows students to locate a problem or issue in greater New Zealand and then attempt to solve this problem. Too often students are unsure of how to apply the predominantly theoretical ideas of economics. We have constructed a broad plan which is then tailored and adapted to the specifics of each different project. Students, after locating several related problems or issues are then asked to conduct some preliminary research over those areas identified in group meetings. Student research different areas of that problem from costs to benefits to international comparisons over the remainder of the semester. Students then begin to turn what they have found into a report detailing their findings, the report is completed with a conclusion and some form of recommendation to a relevant government body or interest group.
The report will be marked by several lecturers at an RWE presentation evening. This presentation will consist of a short presentation by each group. The presentation evening is a chance for groups to show off what they have achieved over the semester to each other as strong rivalries have developed between some of the groups. Each student will need to speak at some point during their groups’ presentation giving them a chance to hone public speaking skills.
These RWE projects are completely student driven. We feel however that some incentive is needed to push them through the sometimes challenging tasks of balancing papers, social life and co-curricular activities such as RWE. Completed projects received a participatory certificate, as well as 1st, 2nd and 3rd groups receiving a certificate stating their position in the RWE event. The winning group will receive a trophy which they hold for the semester until the next event where it will be passed on. A plaque displaying the winning team and runner up each semester will be housed in the trophy cabinet on level zero of the Business School.
RWE is different from lecturers in the way that it allows students to locate a problem or issue in greater New Zealand and then attempt to solve this problem. Too often students are unsure of how to apply the predominantly theoretical ideas of economics. We have constructed a broad plan which is then tailored and adapted to the specifics of each different project. Students, after locating several related problems or issues are then asked to conduct some preliminary research over those areas identified in group meetings. Student research different areas of that problem from costs to benefits to international comparisons over the remainder of the semester. Students then begin to turn what they have found into a report detailing their findings, the report is completed with a conclusion and some form of recommendation to a relevant government body or interest group.
The report will be marked by several lecturers at an RWE presentation evening. This presentation will consist of a short presentation by each group. The presentation evening is a chance for groups to show off what they have achieved over the semester to each other as strong rivalries have developed between some of the groups. Each student will need to speak at some point during their groups’ presentation giving them a chance to hone public speaking skills.
These RWE projects are completely student driven. We feel however that some incentive is needed to push them through the sometimes challenging tasks of balancing papers, social life and co-curricular activities such as RWE. Completed projects received a participatory certificate, as well as 1st, 2nd and 3rd groups receiving a certificate stating their position in the RWE event. The winning group will receive a trophy which they hold for the semester until the next event where it will be passed on. A plaque displaying the winning team and runner up each semester will be housed in the trophy cabinet on level zero of the Business School.