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Fall 2016

ISSN 0890-913X

Volume 31, Number 3

Bridging the Gap between Entrepreneurship Teaching and Economics

Matthew McCaffrey, Manchester Business School

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TheJournalofPrivateEnterprise31(3),2016,77–91BridgingtheGapbetweenEntrepreneurshipTeachingandEconomicsMatthewMcCaffreyManchesterBusinessSchool�______________________________________________________AbstractAlthoughentrepreneurshipeducationisthriving,itoftenlacksasubstantialfoundationineconomictheoryandhistory,andthereforealsoanappreciationoftheoverarchingsocialsignificanceofentrepreneurship.Thispaperexploresonewayeconomicscanenhanceentrepreneurshipteaching:bydiscussingthesocialandinstitutionalbasisofentrepreneurship,aswellasitseconomicmeaningandimplications.Tothisend,Iprovidealistofeconomicreadingsthatcanbeusedinundergraduateentrepreneurshipcourses,alongwithbriefnarrativesexplainingsomeofthemostimportantideastheseworkscommunicate.Thereadingshighlightkeythemesfromtheeconomicsofenterprise,suchastheimportanceofinstitutions,therolesofriskanduncertainty,thecausesofprofit,theprocessofentrepreneurialdecisionmaking,thesovereigntyofconsumers,andtheeffectsofentrepreneurialcompetition.______________________________________________________JELCodes:A12,A22,L26Keywords:economicsofentrepreneurship,economiceducation,entrepreneurshipeducation,undergraduateeducationI.IntroductionItiswellknownthatentrepreneurshipisoneofthefastest-growingdisciplinesinmanagementandthesocialsciences.Entrepreneurshipcoursesarecurrentlyinhighdemandinbusinessschools,whichareincreasingtheirresearchandteachingemphasisonentrepreneurialbehaviorinordertomeetrisingcuriosityaboutnewventurecreation,smallbusinessmanagement,andinnovation(Kuratko2005;Prior2014).Unfortunately,therehasbeenlittleinteractionbetweenentrepreneurshipeducationandeconomics.Whileentrepreneurshipprogramsdoinvokeeconomicconcepts,fewseektoseriouslyexplain�IthankWilliamKline,GeoffreyLea,KevinCurrie-Knight,theparticipantsatthe2014AssociationofPrivateEnterpriseEducationAnnualMeetings,andtwoanonymousrefereesfortheirhelpfuldiscussionsandcommentsontheearlierdraftsofthispaper.

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Metadata [hide]

Title	Bridging the Gap between Entrepreneurship Teaching and Economics
Authors/Creators:	Matthew McCaffrey, Manchester Business School
Year:	2016
Volume:	31
Number:	3
Pages:	77 - 91
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	economics of entrepreneurship, economic education, entrepreneurship education, undergraduate education

Citation:
McCaffrey, Matthew / 2016. "Bridging the Gap between Entrepreneurship Teaching and Economics." The Journal of Private Enterprise, 31(3): 77-91.