A growing movement in European economic education seeks to reduce the overwhelming influence of a small group of top academic journals on how economics is taught and researched. Currently, the so-called “top five” journals hold disproportionate sway over career advancement, funding, and curriculum design, often at the expense of diverse methodologies and real-world relevance. This concentration risks narrowing the scope of economic thought and discouraging innovative or interdisciplinary approaches. Critics argue that reforming training programs to value a broader range of scholarly contributions could lead to more pluralistic and socially responsive economics. Institutions are being urged to reassess hiring and promotion criteria, incorporate policy-relevant teaching, and support research that addresses pressing societal challenges beyond the confines of traditional metrics. Such changes could help cultivate a new generation of economists equipped to tackle complex global issues with more flexible and inclusive analytical tools.
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Reforming the education of economists in Europe: Breaking the tyranny of the top five CEPR