Integration of Accounting and Economics in the Elementary Accounting Course.

Abstract Almost all standard textbooks in accounting, as teachers well know, open with a chapter devoted to the field of accounting and its relationship to law, engineering, economics and the social order in general. Unfortunately in their haste to get to the condition statement, the operating report and the mechanics of debit and credit many teachers devote a small part of the organizational period to such broad relationships and thereafter uniformly neglect the material of formal economics. It is probably not unfair to add that many instructors who later refer to economics do so in a manner that is unenlightening if not downright objectionable. The lack of agreement among economists leads to such diverse positions that the problem of rapid integration becomes almost impossible. The two comparatively recent revolutions in economics have added to the difficulty of integration. The Keynesian revolution of the late nineteen-thirties placed emphasis on the problem of employment and its determinants.