Research projects generate distinctive insights and evidence. MBA students appreciate the lecturer who can make 'off the cuff' reference to these, especially in response to student questions in class. It helps when projects are commissioned by international organisations, government departments or companies, because this persuades students that economic principles can be put to very practical use. Moreover, active researchers will have research associates who are a very useful resource for students. This is most obvious in project work, where these researchers provide additional expertise.

To complete the virtuous circle, it is actually quite important that some teaching experiences feed into research. It matters to MBA students that this should happen. In a session on perfect competition a couple of years ago, one of the MBA students argued that, "the Internet will lead to perfect competition." This struck me as a very interesting observation, though possibly wrong, and it is a theme on which I have subsequently written.

On balance, therefore, I suspect that the plusses from research at least balance the minuses. (note 4)

Being an Economist within a Business School
I conclude with two observations about being an economist in a business school. First, some have suggested that a non-orthodox economist will fit more comfortably into a business school than a mainstream economist. There may be something in this. To take one example, I said above that a good strategy for teaching economics to MBA students is to show how it underpins other fields such as strategy and marketing. Many business school economists see an incentive to spend time developing linkages to these adjacent fields, while those in the mainstream do this less often.

Second, some have suggested that teaching MBA students compromises your thinking as an economist. I suppose it is formally impossible for a business school economist to answer this assertion. I am reminded of the well-known philosophical puzzle about the tribe whose members are all thought to be liars. The puzzle notes that if you ask a member of the tribe, "are you a liar?", you will get the answer, "no", but that neither refutes nor confirms the conjecture.

Nevertheless, my view is, "no", teaching MBA students need not compromise one's thinking as an economist, though it probably does alter one's research and teaching priorities. One leading UK business school academic argued in a recent lecture that when economists join business schools they no longer preach against monopoly, but instead teach strategies for achieving monopoly. I do not recognise that in my experience of business schools. And moreover, such an argument underestimates the MBA student. I have heard too many of them complain about the ravages of monopoly to sustain any impression that they simply want to learn the necessary tools to turn themselves into monopolists.

Notes
1. Peter Swann (pswann@man.mbs.ac.uk) is Professor of Economics and Management of Innovation at Manchester Business School. He was awarded a commendation in the 2001 Economics LTSN Annual Teaching and Learning Awards. Earlier in 2001, he won the first