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The global financial crisis led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background, the purpose of this paper is to conduct a study with undergraduate students of economics in order to capture their view of economic education.

The paper is based on the documentary method, a qualitative empirical method, which combines maximum openness with regard to the collection of empirical material coupled with maximum rigor in analysis.

The empirical findings show that students enter economics curricula with epistemic, practical or moral/political motivations for understanding and dealing with real-world problems but end up remarkably disappointed after going through the mathematical and methods-orientated introductory courses. The findings further indicate that students develop strategies to cope with their disappointment – all of them relating to their original motivation. The theoretical contextualization of the empirical findings is based on the psychological concept of cognitive dissonance.

A socially and politically responsible economic education, however, should provide students guidance in understanding current and prospective economic challenges, thereby enabling them to become informed and engaged citizens. Therefore, it is essential that the students’ criticism of the current state of economic education be taken seriously and BA programs reformed accordingly.

The originality of this paper lies in the application of a qualitative methodology and explicit focus on the student perspective on economics education. The study provides empirical evidence for a lack of real-world orientation in economics education.

The purpose of this paper is to offer an explanation of the predominance of austerity policies in Europe based on distinct crisis narratives and their underlying market metaphors in public speeches and addresses of German Chancellor Angela Merkel to a broader audience of economic decision-makers.

The author uses discourse and metaphor analysis of speeches and addresses of Angela Merkel in the aftermath of the crisis applying cognitive metaphor theory in combination with a corpus linguistic approach.

Dominant conceptual metaphors in Merkel’s crisis narrative subordinate policy-making to superior “market mechanisms”, which are attributed with human and natural characteristics. Moral focus of crisis narrative of “living-beyond-ones-means” forces austerity policies.

The analysis is restricted to public speeches of Merkel, whereas the impact on public discourses was not analyzed.

The paper offers an explanation for the prevalence of neoliberal policies in the Eurozone and the uneven balances of political power in public economic discourses.

Study of the role of “market metaphors” in crisis narratives of influential political leaders as well as an analysis of the impact of discursive manifestations and conceptual market metaphors for economic crisis policies.