Episode 10 How accreditation could help create an economics fit for these times with Shloka Murarka
Shloka Murarka is an economics Masters student, former activist with Rethinking Economics and now board member of the new UK Association for Quality Economics, AQE, an initiative she helped to launch this year — and the focus of this episode. Keynes is quoted as having said that “practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” Well, if that’s true, then the youth protesting around the world are ultimately protesting the ideas put in place by those “practical men” (and let’s face it, they are still mostly men), in service to defunct economic ideas that area clearly no longer serving us. From the streets of Paris, Brussels, Mumbai — young people are demanding an education, and an economy that serves their futures. But how can we expect new economic ideas that can meet their needs if the subject itself cannot attract — and importantly, retain — the very people most in need of them? Keynes also said he one way hoped that economists would be thought of as, “humble, competent people — more like dentists.” Could requiring economics to meet certain standards - much like dentists and other “vocations” — be part of the solution? That’s the thinking behind the new AQE — a new accreditation for UK universities. Because, despite economics liking to frame itself as a”hard” science doing “positive” research with “neutral” tools, of the some 200 accreditation bodies that exist for various subjects in the UK, there is not, as yet, a single standard for economics. The AQE sets out to change that. Shloka joined me to discuss how it came about, and what she and her colleagues hope it will achieve. If you care about economics system change, as Shloka says, economics education is key to that, so especially, but not only, if you are in the UK — I highly recommend checking out the AQE and considering joining. See links in the show notes for more. And if you enjoy the episode, do please like and subscribe and share in your networks. Thank you to Shloka for the brilliant interview and everyone involved at AQE for this important work!
Invisible Handcuffs: Unchaining EconomicsKaty Shields

This episode I was delighted to be joined by Shloka Murarka, an economics Masters student, former activist with Rethinking Economics and now board member of the new UK Association for Quality Economics (AQE) a new and potentially pathbreaking initiative she helped to launch this year.

Keynes is quoted as having said that “practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

Well, if that’s true, then the youth protesting around the world are ultimately protesting the ideas put in place by those “practical men” (and let’s face it, they are still mostly men), in service to defunct economic ideas that area clearly no longer serving us.

From the streets of Paris, Brussels, Mumbai — young people are demanding an education, and an economy that serves their futures.

But how can we expect new economic ideas that can meet their needs if the subject itself cannot attract — and importantly, retain — the very people most in need of them?

Keynes also said he one way hoped that economists would be thought of as, “humble, competent people — more like dentists.”

Could requiring economics to meet certain standards - much like dentists and other “vocations” — be part of the solution?

That’s the thinking behind the new AQE — a new accreditation for UK universities.

Because, despite economics liking to frame itself as a”hard” science doing “positive” research with “neutral” tools, of the some 200 accreditation bodies that exist for various subjects in the UK, there is not, as yet, a single standard for economics.

The AQE sets out to change that.

Shloka joined me to discuss how it came about, and what she and her colleagues hope it will achieve.

If you care about economics system change — do give this a listen.

As Shloka says, economics education is key to systems change. Especially, but not only, if you are in the UK — I highly recommend checking out the AQE and considering joining.

See links below more. And if you enjoy the episode, do please like and subscribe and share in your networks.

Thank you to Shloka for the brilliant interview and everyone involved at AQE for this important work!


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Show notes

Reports cited:
Shifting the Dial on Economics Education - Association for Quality Economics (2026): https://associationforqualityeconomics.org/posts/new-report-published-on-accreditation-and-economics-education
Rethinking Economics UK National Report: Is Economics Education Fit for the 21st Century? (2025): https://rethinkeconomics.org/blog/reports/uk-national-report-is-economics-education-fit-for-the-21st-century/
Who Studies Economics? An Analysis of Diversity in the UK Economics Pipeline, Diversity Report by the Royal Economics Society (2023) https://res.org.uk/who-studies-economics-an-analysis-of-diversity-in-the-uk-economics-pipeline/

Links:
Association for Quality Economics: https://associationforqualityeconomics.org/
Rethinking Economics: https://rethinkeconomics.org/